Latest News- Tourism And Hotel Market in Indonesia: Domestic is expected to lead the Type segment during 2024-2028
The Tourism And Hotel Market in Indonesia is being driven by Increasing preference for local and authentic experiences
The Tourism And Hotel Market in Indonesia is expected to grow at a CAGR of 6.2% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 10345.3 million. In the dynamic tourism and hotel market of Indonesia, technological advancements have significantly disrupted traditional travel planning methods. The Internet and smartphones have become essential tools for travelers, offering convenient access to vital travel information and customer-generated reviews. This digital transformation enables travelers to meticulously plan their vacations, utilizing resources such as destination images and videos, weather reports, maps, and travel guides. Prominent booking portals, like Booking.com, provide customized booking options based on trip type, further streamlining the travel planning process.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Type (Domestic, International) Class Type (Chain hotels, Independent hotels) Geography (APAC).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Tourism And Hotel Market in Indonesia Research Report
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The tourism industry in Indonesia is witnessing significant growth with the development of tourism infrastructure and the establishment of various hotel facilities. Eco-tourism, family travel, luxury travel, and budget travel are popular sectors, showcasing Cuban music, art, cuisine, and history. Post-pandemic travel trends include increased demand for travel insurance, solo travel, and sustainable tourism. Recovery of the travel industry is expected with easing travel restrictions, business travel trends, and air travel recovery. Hotel occupancy rates are crucial indicators of this rebound. Travelers seek safety, confidence, and unique experiences at travel destinations, including Cuba's beaches, boutique hotels, and adventure opportunities. Corporate travel and multi-billion dollar travel bookings are also essential components of the industry outlook.
The global hotels, resorts, and cruise lines industry, encompassing companies operating in casinos and gaming, hotels, resorts and cruise lines, leisure facilities, and restaurants, is experiencing growth due to the expanding travel and tourism sector. Indonesia, specifically, presents significant opportunities with its iconic landmarks, tourist attractions, and improving sewage treatment and water desalination facilities. Technavio projects this growth will be fueled by increasing international tourist arrivals, collaboration with international airlines, and the entry of foreign hotel chains. Diplomatic relations and visitor safety are also crucial factors. Despite potential crises, such as sanctions, the industry's technological advancements and diverse landscapes ensure continued growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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