Money Turnover During Christmas And New Year 2024 Estimated At IDR 100 Trillion

Illustration (Photo: Doc. ANTARA)

Deputy Chairperson of the Indonesian Chamber of Commerce and Industry for Regional Autonomy Development Sarman Simanjorang estimates that the circulation of money during the 2024 Christmas and 2025 New Year (Nataru) holidays will be in the range of IDR 91 trillion to IDR 100 trillion.

Sarman conveyed the prediction figure if based on the average expenditure of travelers during that period it was IDR 3.3 million per family.

"If on average per family we assume that we bring an average of Rp. 3.3 million per family, the potential for money circulation reaches Rp. 91.302 trillion. This amount is more likely to be closer to Rp. 100 trillion, we are taking a very moderate figure, up 10 percent from last year's Rp. 3 million per family," he explained in his statement, Friday, December 27.

Sarman conveyed that based on data from the Ministry of Transportation, the number of travelers for the Christmas and New Year 2024/2025 holidays is estimated to reach 110.67 million people, an increase of 3.67 million from last year's 107 million people.

According to Sarman, when people's purchasing power decreases, it does not reduce people to travel back and forth and travel with their families.

This is evidenced by the number of homecomers on the Nataru holiday this year, an increase of 3.43 percent from last year.

As for the total number of travelers, assuming an average family contains 4 people, the number of travelers is 110.67 million or equivalent to 27,667,500 families.

Sarman said that the number of travelers this year was influenced by three main factors, namely first, people had saved and planned going home to celebrate Christmas with their families and traveling to welcome the New Year 2025.

Second, with the joint holiday on December 25-26, many workers take annual leave on December 23-24, so that the total holiday time can reach 10 days.

Furthermore, the third is the government's policy of reducing flight rates by 10 percent while train and ship fares do not increase during the 2024/2025 Nataru holiday.

Sarman said that during the Nataru 2024/2025 holiday, it was estimated that 55.86 million between provinces and 54.81 million chose to stay on vacation in their respective provinces.

In addition, Sarman said as many as 45.28 percent or 50.12 million people traveled for the New Year's holiday, 11.66 percent or 12.90 million for the Christmas holidays, and 40.06 percent or 47.65 million for the Christmas and New Year holidays.

According to Sarman, the circulation of money will be evenly distributed in various homecoming and tourist destinations and will be able to increase the productivity of various business sectors starting from air transportation, trains, buses, rentals, logistics transportation, shipping services, travel, grabs, sea transportation and ferry services.

In addition, the tourism sector and its supporters will also be the target of large money circulation such as shopping centers, malls, wholesales, Christmas parcel services, cake shops, hotels, hotels, villas, apartments, restaurants, cafes, culinary centers, craftsmen by regional properties, various MSME products, minimarkets and micro traders spread across various tourist attractions.

"The industrial scale will certainly experience a significant increase in sales for Christmas and New Year's needs, especially fashion producers, food and beverages such as cakes, bread, snacks, meat, sausages and drinks such as sirop, soft drink and alcoholic drinks," he said.

With the amount of money circulation in the Nataru 2024/2025 period which is estimated to reach Rp100 trillion, Sarman said it was very strategic to increase household consumption and would be able to contribute to boosting economic growth in the fourth quarter of 2024 above 5 percent

"So that Indonesia's economic growth in 2024 can survive at 5 percent, considering that economic growth in the third quarter of 2024 has reached 4.95 percent," he said.