Bali's Economy Strengthens in the Second Quarter of 2022

Economics & Macro

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Dzulfiqar Fathur Rahman 08/08/2022 17:30 WIB

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After experiencing the impact of the pandemic, Bali's economy strengthened in the second quarter of 2022, driven by the revival of the tourism industry.

Bali's Annual Economic Growth (Quarter I 2019–Quarter II 2022)

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Bali's Economy Strengthens in the Second Quarter of 2022

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Bali's Annual Economic Growth (Quarter I 2019–Quarter II 2022)

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After being hampered by the pandemic, Bali's economy strengthened in the second quarter of 2022, driven by the revival of the tourism industry.

The Central Statistics Agency (BPS) recorded that Bali's Gross Regional Domestic Product (GRDP) in the second quarter of 2022 grew by 3.04% (year-on-year/yoy), continuing the recovery trend seen since the end of 2021.

According to BPS, Bali's economy further rebounded from the pandemic following the reopening of Ngurah Rai International Airport in February 2022.

BPS added that Idul Fitri, Galungan and Kuningan holidays, the Bali Arts Festival, and school holidays also contributed to Bali's economic recovery during that period.

Five main sectors served as the engines of economic growth in this global tourism destination:

1. Accommodation and food and beverage services;
2. Agriculture, forestry, and fisheries;
3. Construction;
4. Wholesale and retail trade; and
5. Manufacturing.

The accommodation and food and beverage services sector grew by 8.36% (yoy) in the second quarter of 2022.

However, not all sectors recorded positive annual growth. The education services sector, for example, contracted by 3.89% (yoy) in the same period.

BPS also reported that the harvest season for several commodities such as rice, cocoa, coffee, aren palm, and nutmeg also contributed to Bali's economic growth in the second quarter of 2022.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."