Indonesia Impressive Economic Progress
Indonesia’s economy has made impressive progress in 2024 despite global challenges. The country has climbed in the World Competitiveness Ranking (WCR) from 34th to 21st place, surpassing regional competitors like Malaysia and Japan. This progress is driven by improved economic performance, increased capital attraction, and strong GDP growth.
According to Arturo Bris, head of the World Competitiveness Center, Indonesia’s significant improvement in government efficiency, regulatory effectiveness, and economic performance played a critical role. Business efficiency moved from 22nd to 14th place, while government efficiency improved from 31st to 23rd place, and overall economic performance improved from 28th to 24th place. Despite these advances, further infrastructure improvements are needed to sustain this positive development.
Indonesia’s ability to attract foreign direct investment (FDI) and its strong domestic market demand help mitigate the effects of a strong dollar and global economic uncertainties. A robust domestic market, driven by a growing middle class, helps the economy withstand external shocks from a stronger dollar. Foreign direct investments play a crucial role in Indonesia’s economic competitiveness, supporting economic growth, creating jobs, and fostering innovation. These positive indicators highlight Indonesia’s strong economic fundamentals and its attractiveness as an investment destination.
Media in Indonesia
The rise of digital media has led to increased diversity in regional and editorial content.
The rapid growth of digital media alongside traditional media underscores an important trend in the Indonesian media landscape. With more than 85% of Indonesians now accessing the internet, the popularity of online news, particularly via smartphones, continues to rise. This shift has made it easier for people to access news, significantly reducing the cost and increasing the reach of information dissemination.
The Value of Indonesia as a Market for International Companies
Indonesia, as the largest economy in Southeast Asia, offers a dynamic and growing market for international companies. The country’s significant population, with a large and young demographic, provides a substantial consumer base. The expanding middle class has increased purchasing power, driving demand for a variety of goods and services.
Indonesia’s strategic location also makes it a key player in regional trade. With its membership in ASEAN, businesses operating in Indonesia can leverage free trade agreements to access other Southeast Asian markets. Additionally, ongoing infrastructure projects aimed at improving logistics and transportation networks are set to enhance the ease of doing business.
Investing in Indonesia also provides access to a diverse talent pool. The government’s focus on improving education and skills development ensures a workforce that is increasingly capable of meeting the demands of modern industries.
The combination of economic resilience, a robust consumer market, strategic location, and improving infrastructure makes Indonesia a compelling destination for international companies looking to expand in Asia.
Facts about Indonesia
Facts about Indonesia
- Indonesia, the world’s largest Muslim-majority country, has more than 277 million inhabitants.
- 17,508 islands belong to Indonesia, with about 6,000 of them inhabited.
- In August, 2024, the new capital city, Nusantara, was inaugurated in Kalimantan on eastern Borneo.
- Bali is one of the world’s most popular tourist destinations, attracting more than 6 million visitors each year.
- It takes approximately 12 hours to fly across the country (from northern Sumatra to western Papua New Guinea).
- You can find tigers and rhinos in Indonesia. Additionally, the world’s largest lizard, the Komodo dragon, which can grow over 3 meters long, lives here.
- There are over 300 ethnic groups in Indonesia.
- Football and badminton are the most popular sports in Indonesia.
- There is snow in Indonesia, on the country’s highest mountain, Puncak Jaya, in Papua. Puncak Jaya is 4,884 meters high.