According to recently published data from Indonesia’s Central Statistics Agency (Badan Pusat Statistik, BPS), the province of Bali recorded an economic growth rate of 5.19% in 2024. This figure places the island 10th among Indonesia’s 38 provinces, highlighting its resilience and ability to rebound after the economic challenges brought on by the pandemic.
A Strong Performance Driven by International Tourism Recovery
This notable performance is largely attributed to the exceptional recovery of international tourism, which reached record levels last year. This resurgence has positively impacted several related sectors, resulting in multisectoral growth that exceeds the national average.
Tourism, the main engine of sustained growth
The hospitality and food services sector stood out with an impressive growth rate of 10.24%. This progress reflects not only an increase in the number of foreign visitors, but also the efforts of local stakeholders to improve tourism infrastructure, diversify cultural experiences, and enhance service quality.
The tourism comeback also helped boost household consumption, which grew by 4.2%, reflecting renewed confidence among Balinese people in the local economy. In addition, investments and exports rose by 4.3%, driven by improved regional connectivity and government incentives aimed at promoting economic development.
Gradual Diversification into New Sectors
Beyond tourism, Bali is showing promising signs of economic diversification. The energy sector grew by 9.4%, illustrating a strategic shift toward more sustainable solutions and a transition to renewable energy sources. The island benefits from abundant sunshine and significant geothermal potential, paving the way for future investments in green infrastructure.
At the national level, Indonesian government initiatives to strengthen interprovincial connectivity and support local entrepreneurship are also helping to energize regions like Bali. At the same time, the growing use of digital tools and online platforms is enabling many Balinese SMEs to better position themselves in the global market, particularly in the fields of handicrafts, services, and e-commerce.
The 5.19% economic growth recorded in 2024 is a testament to Bali’s renewed vitality and its ability to leverage its cultural and natural assets. While tourism remains the cornerstone of the local economy, the rise of other sectors points to a more resilient and diversified future for the Island of the Gods.
Invest with us
Phone: +62 812 3782 4915
Email: [email protected]
Address: JL. Dukuh Indah no 51, Umalas, Badung, Bali
