Voyage Vistas

Tourism serves as a powerful economic driver that significantly affects property values in popular destinations around the globe. As tourism grows, it brings with it a mix of opportunities and challenges for local real estate markets. This article explores the impact of tourism on property values from a global perspective, focusing on the benefits, challenges, and diverse effects across different regions. Positive Impacts of Tourism on Property Values Increased Demand for Real Estate Tourism often triggers a rise in demand for both residential and commercial real estate. Popular tourist destinations attract investors eager to profit from short-term rental opportunities, including vacation homes, Airbnb properties, and boutique hotels. This surge in demand can elevate property values, particularly in areas near major attractions or scenic locations. Economic Growth and Infrastructure Enhancement The influx of tourists can stimulate local economies, leading to improved infrastructure and

Indonesian officials are in the process of drafting new regulations to better manage the growing tourism industry in Bali . Local businesses in the tourism sector are also looking into international approaches to mitigate the risks associated with overtourism . South Bali is approaching a critical point with rising visitor numbers, similar to other popular destinations around the world . These destinations provide valuable insights for Bali’s situation. In Belgium, the city of Bruges has recently introduced measures to control short-term vacation rentals within its historic district . Furthermore, the city has put a halt to new hotel projects. These steps are intended to manage the increasing influx of tourists and prevent future complications. In 2023, Bruges attracted over 8.2 million tourists, even though its population is only 120,000. Bali is facing a comparable situation with a steady increase in tourist numbers. Addressing Common Concerns Bruges’ Mayor, Dirk De Fauw, exp

At least 13 international airlines have expressed interest in launching direct flights to Bali. These planned routes include connections from major countries such as China, Russia, Japan, India, and the United States. However, the proposals are still under consideration . Handy Heryudhitiawan, General Manager of I Gusti Ngurah Rai Bali Airport, mentioned that airlines have requested time slots for regular flights. While some have made submissions, they have yet to initiate services. For the 2023 dry season, several airlines that secured slots last year are still absent from the market. “T hey must reapply for approval, including schedules and aircraft type, ” Handy said. The airport is waiting for further confirmation of their plans. Tjok Bagus Pemayun, Head of Bali’s Provincial Tourism Office, noted that out of the 13 proposed airlines , three or four are from China. Before the pandemic, Bali had direct flights from 15 Chinese cities, but none are operational at present . Pemay