In the end of the third quarter of 2018, the growth rate in the hospitality sector has been adequate, the first quarter reaching 5.45%, the 2nd quarter reached 5.75% and the most impressive rate was in the 3rd quarter, sitting at 5.90%. An upsurge is occurring concomitantly with the continuous rise in demands in the hospitality and culinary sector. This is predicted to consistently escalate in the years coming ahead.
Based on research, PT. Visi Globalindo Data Utama has predicted that the hospitality sector in the 1st quarter of 2019 will experience a growth rate up to 0.69 points, therefore, it will become 8.06% compared to the same period of 2018. This is caused by the lifestyle development of Indonesian citizens and tourism sector as its greatest contributors. In the past couple of years, a large portion of Indonesian citizens has spent a majority of their time dining in restaurants and hunting for unique culinary experiences rather than having home-cooked meals. This particular phenomenon has risen potential business opportunities for Indonesian cuisine businesses. Moreover, there are many holiday destinations in Indonesia that have attracted tourists at an international scale, therefore, causing a rise in potential hospitality business opportunities.
The Ministry of Tourism (Kemenpar) has stated that in the year 2019 the tourism industry needs investment and financing up to IDR 500 Trillion to reach the governmental target by the coming year of 2019. By 2019, the government has targeted the tourism sector to reach up to 20 million foreign tourists, 275 local tourists and foreign exchange earning of the country up to 20 Million USD. The target mentioned as chosen to stabilize the balance sheet deficit of trade in Indonesia.
Based on the mentioned tourism target sector, the period of 2019 to 2024 is estimated a need for an investment in the hospitality and tourism sector of at least 120,000 hotel rooms, 15,000 restaurants, 100 international recreational parks, 100 diving operators, 100 marinas, and 100 KFK with involving a part with the business world, alongside programs building 100 thousand homestays with involvement of UKM Tourism.