Ahead Of Eid Al-Fitr, Money Turnover Is Predicted To Be Significantly Encourage The Regional Economy

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JAKARTA - The Indonesian Chamber of Commerce and Industry (Kadin) projects that the circulation of money at the moment of Ramadan and Eid al-Fitr in 2024 will reach IDR 157.3 trillion.

This number still has the potential to increase due to the public's interest in traveling back and forth during Eid al-Fitr 2024 which experienced a significant increase compared to last year.

Based on data from the Ministry of Transportation, the number of travelers this year increased by 193.6 million people or 71.7 percent of the total population of Indonesia.

Deputy Chairperson of the Indonesian Chamber of Commerce and Industry for Regional Autonomy Development, Sarman Simanjorang, said that the circulation of money will spread throughout the country, especially areas that are the main destinations for homecoming such as Central Java, East Java, West Java, Yogyakarta, Banten and Jabodetabek, which are estimated at 62 percent of the total population.

Sarman said the rest would spread in Sumatra, Kalimantan, Bali/NTB, Sulawesi, NTT, Maluku and Papua.

"With a fairly large turnover, it is certain that the regional economy will be productive in encouraging increased household consumption," he explained in his official statement quoted Friday, March 29, 2024.

Sarman said that the circulation of money during the month of Ramadan and Eid al-Fitr 1445 H was very significant to boost national economic growth in the first quarter of 2024 which would be the initial capital to achieve the target of economic growth in 2024 to survive or even above 5 percent.

According to Sarman, the circulation of money will also increase Regional Original Income in each of the homecoming destinations derived from hotel, restaurant, café taxes, tourist destinations, etc. during this year's Eid al-Fitr holiday season.

Sarman hopes that the Regional Government can help smooth the flow of homecoming and ensure that entrepreneurs in the destination area do not increase the jorjoran price that makes travelers reluctant to spend their money.

"Such as entry rates to tourist sites, hotel/infiltration rates, food/drinking prices and regional food prices or by, it is hoped that there will not be an aggravating increase in consumers," he said.

Sarman said that business actors in homecoming destinations must be able to create memorable and fun services so that travelers do not hesitate to spend their money during the holidays.

In addition, the Regional Government is expected to provide security guarantees, smooth traffic, especially the spilled market, which often takes track roads so that during the Eid holidays it can be brought under control.