Silent streets, inconspicuous tourists, activities at a standstill, has the global pandemic hurt Bali that much on this Sunday 14 March 2021 ?
No, Bali has not stopped living since Covid19 hit the island of the Gods. This day is Nyepi, the Balinese New Year. And one of the particularities of this sacred day is the observation of silence by the inhabitants.
Nyepi is a time of purification prior to the New Year where fasting, meditation and introspection are encouraged; to evaluate personal values such as love, truth, patience, kindness, and generosity. The day after Nyepi, families and friends gather to ask forgiveness from one another before starting the new year.
Since the pandemic started, we all have been wondering if and when Bali will be able to open again and will the Island of the Gods be as attractive as before.
At Tropic Invest, we strongly believe Bali will continue to lead Indonesian tourism in the years to come.
Most popular destination
Trip Advisor has just voted Bali the number one holiday destination in its 2021 ranking.
Well known for its amazing diversity of landscapes and sightseeings, beautiful panoramas, colourful ceremonies, white and black sand beaches and one of the most exciting nightlife in the world, Bali has something to offer to everyone.
Over the last 5 years before covid, the number of visitors increased by 11% a year, reaching 17 million people in 2019. No doubt that, as soon as the situation improves, tourism will once again become the island’s number one economic force.
Indonesia and Bali at the heart of a constantly growing market
Indonesia is seen as a future economic giant. It is the largest economy in Southeast Asia and the seventh largest in the world by purchasing power parity.
One of the main drivers of the economy is the private domestic consumption, with a growing middle class of nearly 70 million people (55% of GDP).
According to the IMF’s October 2020 forecast, growth was expected to return strongly to 6.1% in 2021 before stabilising at 5.3% in 2022, subject to the post-pandemic recovery of the global economy.
In its latest January 2021 update of the World Economic Outlook, the IMF has revised its GDP growth projections for Indonesia to 4.8% in 2021 and 6% in 2022.
It seems clear that even current events will not halt Indonesia’s irreversible rise in the global economy.
Large cities in less than 5 hours flight
Jakarta, Singapore, Kuala Lumpur, Hong Kong, Perth, Taiwan… are all within a 5 hours flight. Bali is a central point for all these holidaymakers as well as for meetings and corporate events. Populations with high purchasing power make Bali an exceptional place to invest and live a dream life.
It is no coincidence that in 2019, 17 million tourists have landed in Bali.
Workers from around the world
Bali is also very well known amongst the international digital nomad community, attracted by the exceptional living conditions the Island of the Gods offers. Remote workers from all over the globe are expected to flock to Bali once the pandemic is over.
According to the Worldpackers website “CANGGU is the best place in the world for digital nomads in 2019” and according to Forbes magazine “CANGGU is the 4th best place in the world to live and invest in 2019”.
And you, will you come back to Bali?