ECONOMIC FEEDING FRENZY All About Indonesia
My plane is about to touch down in Jakarta and this looks to be a busy week.
Indonesia's hotel industry is being dragged into the slipstream of the country's economic boom.
While political concerns remain over this year's Presidential elections, analysts are forecasting growth in 2013 in excess of 6.5%.
Reading an article in The Nation on the plane, one point that sticks out is the enormity of the domestic segment, with internal demand accounting for 65% of GDP. Much of this can be attributed to a growing middle class.
As I set up appointments this week, I soon realized that Jakarta is now swarming with hotel development types from the international chains. At least four people I know from Hong Kong and Singapore are out looking for deals.
Another key indicator is the rise in hospitality conferences. Terrapinn will be hosting a Jakarta event in March, HVS in May and come February Bali's first hotel investment event will be held.