In the 12-month period before the COVID-19 pandemic grounded international flights around the world, Lombok received a million tourists and recorded 20% year-on-year growth. Arief Yahya, Indonesia’s Minister of Tourism, considers Lombok to have the fastest growing tourism market in the region and development has quickened in recent years courtesy of a new international airport catering to overseas visitors from Australia, Malaysia and Singapore. Various private and government-backed resort projects have opened for business, while more are in the pipeline. Lombok offers a rare chance for investors to buy into a market that is on a steep upward curve, yet remains accessibly priced. And with much of the land largely undeveloped, the only limitation is your imagination.
Window of Opportunity
In recent years, the Indonesian government has realised Lombok’s huge potential and started to promote the island as one of the country’s primary tourist destinations. Its US$3 billion Mandalika Project promises to be the jewel in the crown, but the provincial government has also been actively introducing tourism projects and promotional activities to attract more visitors.