The Circulation Of Money During The Nataru Holiday Could Reach Rp 100 Trillion, And Kadin Is Optimistic That Indonesia's Economy Will Grow Above 5 Percent

The Indonesian Chamber of Commerce and Industry (Kadin) estimates that the money circulation during the Christmas 2024 and New Year 2025 holiday period will reach between Rp 91.30 trillion and Rp 100 trillion. Sarman Simanjorang, the Deputy Chairperson of Kadin Indonesia for Regional Autonomy Development, stated that this estimate is based on the Ministry of Transportation's prediction of 110.67 million travelers. If we assume an average of 4 people per family, this means there are about 27,667,500 families traveling. If each family is expected to carry around Rp 3.3 million, the potential money circulation could reach Rp 91.3 trillion. "This amount could likely be closer to Rp 100 trillion. We are using a very moderate figure, increasing by 10 percent from last year's average of Rp 3 million per family," he mentioned in a written statement on Tuesday (December 24, 2024).

This money circulation will be spread across various travel and tourism destinations in Indonesia. He revealed that 45.28 percent or 50.12 million people plan to travel for New Year’s celebrations, 11.66 percent or 12.90 million for Christmas, and 40.06 percent or 47.65 million for both holidays. The movement during this holiday period is expected to include 55.86 million inter-provincial trips and 54.81 million people choosing to vacation within their own provinces. Popular destinations for travelers during the 2024/2025 holiday season include East Java, Central Java, West Java, Yogyakarta, North Sumatra, Jabodetabek, North Sulawesi, South Sulawesi, West Kalimantan, East Kalimantan, Bali, West Sumatra, Lampung, NTT, Maluku, and Papua. "This money circulation will boost productivity across various sectors, including air transport, trains, buses, rentals, logistics, delivery services, travel, ride-hailing, sea transport, and ferry services," he added.

The tourism sector and its supporting industries will see a significant flow of money, including shopping centers, malls, wholesale stores, Christmas gift services, bakeries, hotels, motels, villas, apartments, restaurants, cafes, food courts, local souvenir artisans, various MSME products, mini markets, and small vendors located at tourist attractions. The industry will experience a notable increase in sales for the holiday season, especially for producers of fashion, food, and beverages like cakes, bread, snacks, meats, sausages, and drinks such as syrups, soft drinks, and alcoholic beverages. The money circulation during the 2024/2025 holiday season will boost household consumption, contributing to an economic growth of over 5 percent in the fourth quarter of 2024. Therefore, Indonesia's economic growth throughout 2024 is expected to remain around 5 percent, especially after a slowdown in the third quarter of 2024, which only grew by 4.95 percent.

Tag: Kadin Money Circulation Nataru Holiday