Global market research company Euromonitor International shared insights on how companies can tap into the Indonesian market at its first conference for Indonesia at Pullman Jakarta Central on September 25th.
According to global market research company, Euromonitor International, Indonesia has the largest number of middle class households in ASEAN, representing 30 per cent of households in 2018. “This fact offers a sizeable market potential for companies to tap into Indonesia,” says Adhitya Nugroho, research manager at Euromonitor.
Travel is set to be one of the fastest growing category in the country, increasing by 49.2 percent by 2023. Led by the millennials that are more inclined to spend on travel than other demographics, the will of spending on convenience and experience is marking an unprecedented growth in travel in Indonesia. Furthermore, the smartphone penetration that reached 142 percent of households in 2017, is supporting the young generation to spend more on holidays planning.
A Euromonitor also revealed that big cities in Sumatra will have the highest penetration of middle class households by 2030.
“Medan, Bandar Lampung and Padang will be the top three big cities in Indonesia, with almost 50 per cent of its population enjoying annual incomes of between US$10,000 and US$25,000 ” said Euromonitor research manager, Adhitya Nugroho, in a statement.
Smartphone penetration, which reached 142 per cent of households in 2017, is also supporting the tendency to spend more on holiday-planning.
Euromonitor International is the world’s leading provider for global business intelligence and strategic market analysis.
It has more than 40 years of experience publishing international market reports, business reference books and online databases on consumer markets.
Source : BERNAMA | businesswire.com
I began my career in the banking industry in 1997, and stayed approx 6 years in it. This industry boost his knowledge about the economic condition in Indonesia, both macro and micro, and how to
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understand it. My banking career continued in Yogyakarta when I joined in a program funded by the Asian Development Bank (ADB),as the coordinator for a program aimed to help improve the quality of learning and teaching process in private universities in Yogyakarta. When the earthquake stroke Yogyakarta, I chose to join an international NGO working in the area of ?disaster response and management, which allows me to help rebuild the city, as well as other disaster-stricken area in Indonesia. I went on to become the coordinator for emergency response in the Asia Pacific region. Then I was assigned for 1 year in Cambodia, as a country coordinator mostly to deliver developmental programs (water and sanitation, education, livelihood). In 2009, he continued his career as a protocol and HR officer at the U.S. Consulate General in Surabaya, and two years later I joined the Political and Economic Section until now, where i have to deal with extensive range of people and government officials, as well as private and government institution troughout eastern Indonesia.
I am the founder and Editor-in-Chief in Good News From Indonesia (GNFI), a growing and influential social media movement, and was selected as one of The Most Influential Netizen 2011 by The Marketeers magazine.
I also wrote a book on "Fundamentals of Disaster Management in 2007"?, "Good News From Indonesia : Beragam Prestasi Anak Bangsa di dunia"? which was luanched in August 2013, and "Indonesia Bersyukur"? which is launched in Sept 2013. In 2014, 3 books were released in which i was one of the writer; "Indonesia Pelangi Dunia"?, "Indonesia The Untold Stories"? and "Growing! Meretas Jalan Kejayaan"
I give lectures to students in lectures nationwide, sharing on full range of issues, from economy, to diplomacy
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