Indonesia’s Investment Coordinating Board (BKPM) has offered 17 tourism projects to investors to support the development of three main tourist destinations, namely Lake Toba in North Sumatra, Borobudur Temple in Central Java and Tanjung Kelayang in Bangka Belitung.
The projects are worth a total of US$2.9 billion, which includes the construction of hotels, golf courses and basic infrastructure, BKPM chairman Thomas Lembong said at the Regional Investment Forum in Padang, West Sumatra, on Monday.
He added that $2.3 billion was needed for five projects to support the Lake Toba destination, $562 million for 10 projects to support the Borobudur destination and the remaining funds to construct two hotels to support the Tanjung Kelayang destination.
Investors would only need to disburse their money because the land, supporting regulations and licenses have already been prepared, he said.
Indonesian tourism has an annual growth of 35 to 40 percent, compared to an average national investment growth of between 12 and 14 percent.
According BKPM data, 2013 investment in tourism contributed 1.45 percent to the total national investment, but in the first half of 2017, it reached 3.67 percent of total investment, or $929 million in value.