As of June 2025, around *** million international tourists visited Bali, increasing from about *** million in 2024. The number of foreign tourist arrivals dropped in 2021 due to the coronavirus (COVID-19) pandemic, which had essentially paralyzed the tourism sector in Bali. Tourism as the main economic driver in Bali Tourism is Bali’s main economic driver, and Bali is the center of Indonesia’s tourism industry. Its economy is predominantly service-based, especially those geared towards tourism and hospitality. In 2022, Bali accounted for over *** percent of Indonesia's accommodation rooms in the entire country. The island notrelies heavily on international visitors, with foreign tourist arrivals to Bali showing steady growth over the years, aside from the sharp downturn during the COVID-19 pandemic. Impact of COVID-19 on tourism in Bali Global travel restrictions due to the pandemic meant that the number of foreign arrivals to Bali all but stopped. Bali's biggest foreign tourism feeder market, Australia, had imposed a ban on overseas travel. In March 2020, Bali closed itself to both domestic and foreign visitors. Since January 2022, Indonesia finally opened its doors again to international tourists, and Bali's economy has gradually recovered since then.

The Indonesian real estate market, valued at $64.78 million in 2025, is projected to experience robust growth, exhibiting a Compound Annual Growth Rate (CAGR) of 5.82% from 2025 to 2033. This expansion is driven by several key factors. A burgeoning population, particularly in rapidly urbanizing areas like Jakarta and Bali, fuels significant demand for residential properties. Furthermore, increasing foreign investment, coupled with government initiatives promoting infrastructure development and affordable housing schemes, is stimulating the market. The rise of e-commerce and a growing middle class are bolstering the retail and office segments. However, challenges exist, including potential interest rate fluctuations impacting borrowing costs and navigating regulatory complexities associated with land acquisition and construction permits. The market's segmentation by property type (residential, office, retail, hospitality, industrial) and city (Jakarta, Bali, Rest of Indonesia) allows for a nuanced understanding of growth patterns within specific niches. Major players like PT Intiland Development Tbk, Tokyu Land Indonesia, and Agung Podomoro Land are actively shaping the market landscape, competing for dominance in diverse segments and locations. The continued expansion of Indonesia's economy and its growing reputation as a Southeast Asian investment hub are expected to contribute to the long-term positive trajectory of this dynamic real estate sector. The diverse nature of the Indonesian real estate market presents both opportunities and risks. While the residential sector consistently dominates, the growth of the office and retail sectors reflects Indonesia's economic diversification. Strategic investments in logistics and manufacturing are bolstering the industrial segment, creating a need for specialized warehouse and factory spaces. Bali’s tourism sector contributes to the significant demand for hospitality properties, while Jakarta remains the center of commercial activity, driving office and retail market growth. Effective risk management strategies, including thorough due diligence regarding land titles and regulatory compliance, are crucial for navigating potential challenges. Future market performance will depend on maintaining economic stability, prudent government policies supporting sustainable development, and investor confidence in Indonesia's long-term growth prospects. Careful consideration of these factors will allow stakeholders to effectively participate in and capitalize on the potential of the Indonesian real estate market. Recent developments include: November 2023: Ciputra Group successfully launched its newest CitraLand City Sampali Kota Deli Megapolitan project in Medan. CitraLand City Sampali City Deli Megapolitan was developed by Ciputra Group together with KPN Group, in collaboration with PT Perkebunan Nusantara 2., September 2023: Tokyu Land Indonesia conducted the Topping Off ceremony for BRANZ Mega Kuningan. BRANZ Mega Kuningan Project is the third premium condominium development after BRANZ Simatupang and BRANZ BSD. The Topping Off ceremony, a significant milestone for TLID, was successfully held. During its introduction to the public, this project has already garnered attention from consumers interested in condominiums in Jakarta.. Key drivers for this market are: Growing Population, Increase in Demand for Residential Real Estate. Potential restraints include: Growing Population, Increase in Demand for Residential Real Estate. Notable trends are: Jakarta Emerging as a Prime Rental Market.

In 2024, there were about ** million international visitor arrivals in Indonesia. This was an increase in comparison to the previous year. The visitor arrivals were distributed amongst the various port of entries in Indonesia. International tourism to Indonesia has been increasing over the years, and Indonesia has become a popular holiday destination. Features and attraction Home to more than ****** islands and *** living languages, Indonesia’s natural attractions are complemented by a rich cultural heritage that reflects its dynamic history and ethnic diversity. The ancient Prambanan and Borobudur temples, Toraja, Yogyakarta, Minangkabau, and of course Bali, with its many Hindu festivities, are some of the popular destinations for cultural tourism There are ** national parks in Indonesia, out of which **** are classified as world heritage sites. Currently, ecotourism contributes around ** percent of Indonesia’s entire income from the tourism sector. In 2018, *** million tourists visited Indonesia’s conservation sites. COVID-19 and tourism COVID-19 has far-reaching effects in a country where a number of provinces are largely dependent on tourism. At the beginning of 2020, Indonesia saw a decrease of **** percent in terms of its tourist arrivals. Indonesia’s borders have been closed to international tourists since April, and many attractions from museums to hiking trails have since been shut. With the pandemic still not brought under control, it was unlikely that the country would be open to international tourists before middle of 2021.

In 2023, the average room occupancy rate of classified hotels in Bali, Indonesia, was around ***** percent. This was an increase from the previous year, indicating a strong recovery in the tourism industry from the impact of the pandemic.

In 2024, the total international visitor arrivals to Singapore was approximately ***** million. The number of international visitors to Singapore had significantly increased, indicating a recovery from the impact of the Covid-19 pandemic. From transit point to tourist destination Singapore is one of Asia’s leading transport hubs for international air passenger traffic, and serves as a transit point between Asia and the rest of the world. It is surrounded by several popular destinations among international tourists, such as Thailand, Bali in Indonesia, and Malaysia. Even so, Singapore had managed to market itself as a must-visit tourist destination in its own right, attracting repeat visitors by offering unique city experiences such as the Gardens by the Bay, and integrated resorts boasting casinos and amusement parks. Profile of the international visitor to Singapore ********* was Singapore’s largest feeder market for international visitors in 2023, followed by ******************. The majority of international visitors to Singapore were there for holiday purposes, and stayed for an average of **** nights. The relatively expensive cost of accommodation in Singapore and the relatively compact location of the major attractions make it easier for tourists to see the sights in a short period of time.