Economy

Economy


Three decades ago, the Balinese economy was largely agriculture-based in terms of both output and employment. Tourism is now the largest single industry; and as a result, Bali is one of Indonesia’s wealthiest regions. The economy, however, has suffered significantly as a result of the terrorist bombings of 2002 and 2005.
Although in terms of output, tourism is the economy’s largest industry, agriculture is still the island’s biggest employer[citation needed], most notably rice cultivation. Crops grown in smaller amounts include fruit, vegetables, Coffea arabica and other cash and subsistence crops.[citation needed] A significant number of Balinese are also fishermen. Bali is also famous for its artisans who produce batik and ikat cloth and clothing, wooden carvings, stone carvings and silverware.
The Arabica coffee production region is the highland region of Kintamani near Mount Batur. Generally, Balinese coffee is processed using the wet method. This results in a sweet, soft coffee with good consistency. Typical flavors include lemon and other citrus notes. Many coffee farmers in Kintamani are members of a traditional farming system called Subak Abian, which is based on the Hindu philosophy of "Tri Hita Karana”. According to this philosophy, the three causes of happiness are good relations with God, other people and the environment. The Subak Abian system is ideally suited to the production of fair trade and organic coffee production. Arabica coffee from Kintamani is the first product in Indonesia to request a Geographical Indication.
Although significant tourism exists in the north, centre and east of the island, the tourist industry is overwhelmingly focused in the south. The main tourist locations are the town of Kuta (with its beach), and its outer suburbs (which were once independent townships) of Legian and Seminyak, Sanur, Jimbaran, Ubud, and the newer development of Nusa Dua. The Ngurah Rai International Airport is located near Jimbaran, on the isthmus joining the southernmost part of the island to the main part of the island. Another increasingly important source of income for Bali is what is called "Congress Tourism" from the frequent international conferences held on the island, especially after the terrorist bombings of 2002; ostensibly to resurrect Bali's damaged tourism industry as well as its tarnished image.
An offshoot of the tourism business is the growing real estate industry in Bali. Bali real estate has been rapidly developing in the main tourist districts of Kuta, Legian, Seminyak and Oberoi. Most recently, high end 5 star developments are taking place on the Bukit peninsula on the south side of the island. Villas in the million dollar category are springing up along the cliff sides of south Bali, commanding panoramic ocean views.
Bali's tourism brand is Bali Shanti Shanti Shanti. Where Shanti derived from Sanskrit "Shanti" (शान्‍ति) meaning peace.

MAP LOCATION WWW.BALITOURTOHEAVEN.BLOGSPOT.COM

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