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

The 2024 Africa-Indonesia Forum concluded in Bali, bringing together key officials and experts. They exchanged ideas on tourism, agriculture, trade, and industry. A central focus for Bali's tourism industry was Africa's successful conservation tourism models . Indonesia's Minister of Tourism and Creative Economy, Sandiaga Uno, emphasized the significance of these African initiatives. He explained how African countries turned cultural heritage into both tourist attractions and conservation projects. For example, Algeria has more Roman ruins than Italy. Meanwhile, 30% of Tanzania’s economy comes from wildlife tourism. Throughout the forum, participants often compared Zanzibar, a Tanzanian island, to Bali. Although some mistakenly called Zanzibar a country, it shares several similarities with Bali. Both face the challenge of balancing tourism growth with environmental and cultural preservation. Luhut Binsar Pandjaitan, Indonesia's Minister for Maritime Affairs and Investme

  AirAsia has introduced direct flights connecting Kuala Lumpur International Airport (KUL) with Komodo International Airport (LBJ) in Labuan Bajo, Indonesia. This makes AirAsia the first international airline to offer a direct route to this destination, known for its unique Komodo dragons, a species found only on this island. The inaugural flight landed in Labuan Bajo on September 3, 2024. This marks the start of a three-times-a-week service between the two locations. The route provides over 4,000 seats weekly, with expectations of boosting tourism and benefiting local economies in both Indonesia and Malaysia. AirAsia emphasized that the new route is likely to significantly increase tourist numbers, which will positively impact local businesses. The airline’s Fly-Thru service also enhances accessibility, making it easier for travelers from Asia and Australia to visit Komodo National Park and Flores island with a single stop in Kuala Lumpur. Dato’ Captain Fareh Mazputra, AirA