Q1 2018, Travel Services Balance of Payments Surplus Increases by 65%

The increase in foreign tourist visits to Indonesia boosted Indonesia's balance of payments surplus in the travel services sector during the first quarter of 2018. Data from Bank Indonesia shows that the surplus in the travel services balance of payments in the first quarter of this year grew by 64.6% to US$1.67 billion from the fourth quarter of 2017 and also increased by 18.7% from the same quarter of the previous year.

The increased surplus in the travel services balance of payments in the first quarter of this year was driven by a 13.45% increase in travel service exports to US$3.49 billion compared to the previous quarter. Meanwhile, imports of travel services only grew by 11.64% to US$1.82 billion.

Based on data from the Central Bureau of Statistics (BPS), foreign tourists visiting Indonesia throughout the first quarter of 2018 grew by 14.87% to 3.67 million people compared to the first quarter of 2017. Foreign tourists from China, Malaysia, Timor Leste, and Singapore dominated foreign tourist arrivals in Indonesia. The occupancy rate of star-rated hotels in March 2018 reached 57.1%, up from 56.21% the previous month, while the average length of stay for foreign tourists decreased to 2.83 days from 2.96 days previously.