Rumbling volcano could cause USD1 billion hit to Bali tourism
With erupting volcano Mt Agung still quietly rumbling with no end in sight, the Bali economy will likely take a hit of nearly $1 billion by the end of the year.
With the busy festive period still to come, Indonesia’s tourism minister Arief Yahya estimates the island will lose one million tourists this year.
That means Indonesia will almost certainly fall short of the government’s target of 15 million foreign tourists this year.
Arrivals fell 16% in October after the first signs of a potential eruption on Mt Agung were noticed.
Since then flight and hotel booking cancelations have surged.
The occupancy rate dropped 6.7% in October, according to government data.
For the first nine months of 2017 tourists arrivals were up 25%.
Tourism operators are reporting a huge drop in business even in hotspots like Kuta and Seminyak which are located a long way from the volcano.
The uncertainty over whether it will finally calm down or still blow its top is adding to the frustration for many tourism businesses.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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