Exploring Indonesia's "Bleisure" Trend: Golden Opportunities in Investment and Tourism
In 2024, CrossBond had the privilege of co-hosting an engaging exchange forum organized by the Indonesian Economic and Trade Office in Taipei, focusing on the emerging trend of "Bleisure"—the combination of business and leisure. The event delved into Indonesia's investment policies and future opportunities, offering valuable insights to professionals and businesses from various sectors while showcasing Indonesia’s limitless potential as a Southeast Asian investment hotspot.
Why Choose Indonesia?
Indonesia offers competitive and transparent investment incentives that can be processed through a one-stop service at the Indonesia Investment Coordinating Board (BKPM), significantly enhancing ease of investment for foreign enterprises. The government’s commitment to sustainable economic development has solidified Indonesia as a top choice for global investors.
Beyond business opportunities, "Bleisure" is an emerging trend in Indonesia. With the flourishing tourism industry, many expatriates combine business activities with enjoying Indonesia's unique tourism assets. This trend creates additional business opportunities for investors. Whether exploring tropical islands, experiencing local culture, or enjoying modern urban amenities, Indonesia caters to diverse traveler needs. Furthermore, the Indonesian government continues to improve tourism infrastructure, providing convenient transportation, accommodations, and dining services to attract high-spending business travelers.
Event Highlights
The forum, held grandly in Taipei, garnered attention and participation from various sectors. Mr. Arif Sulistiyo, a representative of the Indonesian Economic and Trade Office to Taipei, opened the event, emphasizing Indonesia's global competitiveness and growth potential. Experts from the Indonesian Office followed with in-depth analyses and insights on Indonesia's investment policies and future opportunities.
1. Investment Policies and Incentives
Mr. Eko Wijanarko, Investment Division Director of the Indonesian Economic and Trade Office, provided a detailed overview of Indonesia's supportive and transparent policies for foreign investors, instilling confidence in participants about the Indonesian market. Mr. Wijanarko highlighted Indonesia's rich natural resources, including the world's largest nickel reserves (22% of global supply) and the second-largest tin reserves (16% of global supply). These resources provide a solid foundation for the electric vehicle industry, positioning Indonesia as a burgeoning hub in this sector.
2. Tourism Investment Opportunities
Mr. Ichwan Joesoef, Tourism Division Director, presented the vast potential of Indonesia's tourism sector, emphasizing its cultural and natural attractions. He noted the global shift towards unique travel experiences, which Indonesia's traditional festivals, natural landscapes, and diverse cultures perfectly cater to.
Events like Bali’s International Kite Festival in July, the Ubud Writers Festival in October, and the traditional celebrations in Panglipuran Village in November attract global visitors, enhancing Indonesia's tourism appeal. These festivals not only enrich Indonesia's tourism resources but also provide numerous business opportunities. Investors can develop tourism facilities, offer related services, or sponsor these events to boost brand visibility.
3. Golden Visa and Second Home Program
Mr. Wahyu Wibisono, Immigration Division Director, introduced Indonesia’s Golden Visa and Second Home Visa programs, which offer long-term and convenient residency options for expatriates, further enhancing Indonesia's appeal as a global destination for talent and investment.
Golden Visa holders enjoy flexible residency periods of 5 to 10 years, a simplified online application process, fast-track airport and seaport clearance, the ability to open bank accounts in Indonesia, and other conveniences. Additionally, eligible individuals can stay in Indonesia long-term by depositing at least USD 130,000 or equivalent in an Indonesian state-owned bank.
The "Second Home" visa allows qualified expatriates to reside long-term in this tropical paradise. These attractive visa policies not only provide an excellent living environment but also create favorable business conditions, encouraging foreign investors to invest, start businesses, and share in Indonesia’s economic growth.
4. Financial Services from Bank Rakyat Indonesia (BRI)
Mr. Andik Kurniawan, Deputy General Manager of BRI Taipei Branch, elaborated on Indonesia’s financial system and cross-border financial opportunities, helping participants better understand how to conduct business and manage finances in Indonesia. As the only Indonesian bank in Taiwan, BRI is dedicated to supporting the Indonesian diaspora, facilitating business exchanges between Indonesia and Taiwan, and encouraging investments in Indonesia. Mr. Kurniawan emphasized Indonesia's ranking as the 4th friendliest country globally, making it an attractive environment for foreign investors.
Indonesia’s Economic and Investment Potential
Indonesia’s strong economic growth has drawn international investor attention. According to the forum’s latest data, Indonesia’s GDP growth in 2023 reached 5.05%, with investments contributing 29%. As Southeast Asia's largest market, Indonesia serves as a gateway to the regional market and is a significant global destination for foreign direct investment (FDI), ranking 18th worldwide and 2nd in Southeast Asia.
The Indonesian government’s reforms and policies, especially in ensuring fair treatment and protection for foreign investors, further enhance the country's investment appeal. Climbing to 27th place in global competitiveness rankings, Indonesia demonstrates consistent improvement in its economic strength and investment environment.
Looking Ahead
