At CUBE Group, we believe that destinations mature not when tourism returns, but when it stabilizes, diversifies, and begins to compound value, also we believe meaningful investment decisions are shaped by context, not noise. While culture and design define how destinations are experienced, data reveals how they perform and endure. The Ministry of Tourism’s JPAT on December 2025 data confirms that Indonesia’s tourism sector has entered a more mature phase, one defined by quality, yield, and structural resilience. This shift strengthens the long-term foundation behind disciplined investment in Bali.
Between January and October 2025, Indonesia recorded 12.76 million international arrivals, representing a 10.32% year-on-year increase. Full-year projections indicate 15.31 million arrivals, exceeding the national target of 14–15 million visitors before year-end
This growth is not driven by a single peak or extraordinary event. It reflects sustained global interest, improved connectivity, and increasing confidence in Indonesia as a long-haul and repeat-visit destination—conditions that support long-term Bali hospitality investment rather than short-term speculation.
Equally significant is how visitors are spending. In 2025, average spending per arrival reached USD 1,259, exceeding the government’s target of USD 1,220. Tourism-generated foreign exchange reached USD 13.82 billion in Q1–Q3, with a full-year projection of USD 18.5 billion
For investors, this transition from volume-led tourism to value-led tourism directly strengthens the fundamentals of Bali real estate, supporting healthier margins, stronger ADR, and long-term asset sustainability.
National data shows that 72% of international arrivals originate from 15 priority markets, with Malaysia as the largest contributor and Russia emerging as the fastest-growing target market in 2025.
This diversification is a critical strength. It reduces exposure to volatility from any single geography and stabilises occupancy and pricing across seasons, key fundamentals for sustainable Bali property investment and professionally managed hotel assets.
International travel is complemented by a powerful domestic base. From January to October 2025, Indonesia recorded 997.91 million domestic trips, marking 18.89% year-on-year growth, with projections reaching 1.21 billion trips for the full year.
Domestic tourism provides baseline demand during periods of global uncertainty. For investment in Bali, this dual-market structure international and domestic adds resilience and predictability to long-term asset performance.
Investor confidence is increasingly visible. Tourism-related investment grew by 52.66% year-on-year during Q1–Q3 2025, with realised investment reaching IDR 35.32 trillion.
Capital tends to move where fundamentals are clear. This growth reflects trust in Indonesia’s regulatory direction and reinforces Bali’s position as a core market for structured Bali hospitality investment and long-horizon Bali real estate development.
The enactment of Tourism Law No. 18/2025, combined with stricter licensing enforcement and the planned delisting of non-compliant accommodations from online travel platforms by 31 March 2026, marks a decisive move toward formalisation.
For compliant developers and investors, clearer regulation protects asset quality, reduces operational risk, and supports long-term value creation across Bali property investment.
In destinations such as Uluwatu, national trends are amplified. Limited land supply, higher-spending travelers, diversified demand, and stronger regulation combine to strengthen the long-term case for disciplined Uluwatu investment particularly for hospitality assets designed to perform across cycles, not chase short-term yield.
Here, value is built through positioning, quality, and relevance not volume.
Taken together, the JPAT 2025 data confirms a clear evolution: Indonesia’s tourism sector has moved from recovery into resilience. For CUBE Group, this reinforces our belief that culturally aligned, well-structured investment in Bali especially in premium hospitality and real estate remains positioned for enduring relevance and value.
This is how we read the data.
This is how we build.
With clarity, discipline, and intention.
