Speaking at the Presidential Palace Complex on Wednesday (04/10/23), Indonesia’s Minister of Tourism and Creative Economy Sandiaga Uno, announced that President Jokowi has instructed relevant ministers to establish a tourism fund to support world-class tourism in Indonesia, according to reporting from Antara News.
“We received direction in a meeting with President Jokowi regarding the Tourism Fund to support quality and sustainable tourism in Indonesia,” Sandiaga said.
He said that several other countries that prioritize the tourism sector, such as Singapore and Saudi Arabia, have also established tourism funds.
Antara News say that the Tourism Fund in Indonesia will be started with good governance and prioritizing sustainable and quality tourism by highlighting domestic cultural excellence.
“Tourists visiting Indonesia will not only be measured by their quantity but also by the quality of their stay,” Sandiaga said, adding that quality tourists will bring economic effects to the country, such as an impact on job creation.
He noted that the government will form a special team to determine the Tourism Fund mechanism. One of the options is through an endowment fund supported by foreign exchange from tourism that could generate USD 20 to 25-billion annually before the pandemic, report Antara News.
“We will form a special team to study this matter. We want to provide sustainable funding for the Tourism Fund,” the minister stated.
He highlighted that the government had looked at the progress of other countries that can hold international-quality events with their tourism funds.
“We will find ways to cover the Tourism Fund without a burden to our state budget. It has to be sustainable,” he said.
Antara News report that Sandiaga also revealed that the government will propose a revision of Law Number 10 of 2009 on Tourism. The funding aspect of the Tourism Fund will be part of the revised Tourism Law.
The determination of the institution that will manage the Tourism Fund is still being studied, he stated.
“We already have some options, such as a fund management institution from the Finance Ministry or state-run tourism holding, InJourney,” Uno explained.
Antara News report that the formation of the Tourism Fund is targeted to start in 2024, so the new cabinet resulting from the 2024 election can run the fund.
Source: Antara News