REPUBLIKA.CO.ID, SOLO -- Bank Indonesia said the government needs instant foreign exchange source to shore up the country's economic development. It was needed to cover the current account deficit.
"Indeed, it is necessary to look for instant foreign exchange sources in order to cope with the current account deficit," a deputy at the representative office of the Central Bank for Surakarta Taufik Amrozy said here on Friday.
Taufik said one of the potential instant foreign exchange sources is the tourism sector. He said there are many countries successful in relying on the tourism sector to improve economic condition such as Malaysia and Thailand.
He said the Indonesian government also has been quite successful in developing its tourism sector as shown in the success of Bali in topping the "World Top 25 Destinations" in 2017, when Bali was ranked first. That time, Bali could put behind world's major tourist destinations, New York, Paris, and London, which have long been the favorite tourist destinations.
"That means, Indonesia succeeded in branding' Bali as a destination that foreign tourists should visit," he said.
Currently the government is developing 10 other potential destinations as new Bali including Lake Toba, Belitung, Tanjung Lesung, the Thousand Islands, the Buddhist Borobudur temple, Mount Bromo, Mandalika, the Komodo Islands, Wakatobi National Park, and Morotai.
Meanwhile, head of the representative office of the central bank Bandoe Widiarto said the tourism sector has continued to be developed to become one of the country's foreign exchange earners to finance the country's economic development.
"However, there are still home works to be finished including accessibility, amenity, attractions and promotion," Bandoe said.
Bank Indonesia predicted that the country's economy would grow 5.3-5.7 percent this year.