• Mounting Losses

    Tourism Minister Blames Mount Agung for Rp. 9 trillion in Foreign Exchange Losses

    (12/10/2017)

    The State News Agency Antara quotes Indonesia’s Minister for Tourism Arief Yahya who has calculated that Indonesia lost around Rp. 9 trillion in foreign exchange earnings because of lost business caused by the Mount Agung volcano in Bali.

    Speaking at the launch of a new metropolitan helicopter service in Jakarta, Yahya extrapolated that the 15,000 tourists he estimates cancelled their holidays in Bali would have spent a total Rp. 250 billion per day. Adding: “Hence, count for yourself how many days since the incident occurred (late November) until Dec 31, it is about 36 days and when multiplied by Rp250 billion, the figure reaches about Rp9 trillion that we will lose in foreign exchange.”

    The Minister also lamented that the national target of 15 million foreign tourists for 2017 would not be achieved because of the volcano. The final total is expected to be closer to 14 million by the end of the year.

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