Indonesia’ tourism sector has suffered loss of at least US$1.5 billion since January amid growing fears of the pandemic. Total estimated losses US$1.1 billion occurred as a result of cancellations made by Chinese tourists and the remaining US$400 million from other countries.
Chairman of the Indonesia Hotel and Restaurant Association, Hariyadi B. Sukamdani said the fiscal stimulus has released by the government with total amount Rp10.3 trillion (US$710.34 million), but it so far gave no impact to the sector.
In the lates report, Moody’s Investors Service rated coronavirus spread will significantly slow economic growth, which will in turn amplify its financial impact on several key corporate sectors, especially tourism.
