We continue to work on our in-house analysis and today we are proud to present a new in-depth study of the foreign market, “Indonesia’s Residential Real Estate Market Research. Manual for Developers: Market Analysis, Project Economics, Growth Outlook”.
Our in-depth market analysis is a valuable tool for construction company owners looking to expand their operations in Bali and Indonesia in general. The study will help you understand your customers' needs, assess the competition, identify new opportunities and mitigate risks.
Indonesia is the 4th most populated country with the largest economy in Southeast Asia. Indonesia ranks 16th in the world in terms of GDP. The country is rapidly developing its tourist destinations, and international organizations predict that Indonesia will have the highest economic growth rate in the world in 2024-2025.
Indonesia’s tourism sector has been growing steadily over the past decade. Tourism has generated foreign exchange earnings from international travelers and raised investment and capital to tourism-related businesses. So the tourism industries together bring in $70-80 billion annually to the country’s economy, accounting for about 7% of GDP.
According to the study, the island of Bali is the absolute leader in terms of the number of guest rooms sold in Indonesia. Ukrainian development companies are now rapidly expanding their hotel business in Bali. Some of them have already involved Ribas Hotels Group in their projects as a hotel operator.
“The island of Bali is one of the most sought after tourist destinations worldwide with an average of 10.37 million tourists per year. The region has traditionally been one of the country's leaders in terms of average annual occupancy both in star-rated (>60%) and unrated hotels (>35%). We are convinced that the hotel real estate market in Bali can double in the next 5 years, so we have opened an office on the island and plan to involve 20 hotels under our brand”, noted Artur Lupashko, founder of Ribas Hotels Group.
You can find more details in the study by following the link.
For Ukrainian developers, Ribas Hotels Group is ready to provide comprehensive support for entering the Indonesian and Bali market, from choosing the right perfect site to fully selling apartments and launching a hotel. You can get a step-by-step manual and a roadmap for implementing a development project by emailing us at hello@ribashotels.com
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