International Tourism Investment Forum 2023

As an investment coordinator in Labuan Bajo Flores Tourism Authority (Badan Pelaksana Otorita Labuan Bajo Flores) under Ministry of Tourism and Creative Economy of the Republic of Indonesia, it’s an honor to join International Tourism & Investment Forum (ITIF) as our purpose to promote potential investment in Parapuar (Authority Land) which a new tourism destination in a 400 hectares area located in Labuan Bajo. Our vision is to create new sustainable tourism destination. As the result, many job opportunities in tourism industry will be created (for people prosperity).

The Forum was held on 26th and 27th of July 2023 at Merusaka Hotel in Nusa Dua – Bali. in the first day, we had very insightful discussion about Green Investment Outlook on Tourism, Innovations and Initiatives in Shaping Market Preferences on Sustainable Tourism, and Trends & Pattern of Investment in Sustainable Tourism. We also have time to present investment opportunity deck, and breakout session.

In the first session, we discuss about green investment that plays a crucial role in mitigating the environmental impact of the tourism sector, preserving natural resources, reducing carbon emissions, and promoting sustainable practices. Moreover, green investment in tourism contributes to the long-term viability and competitiveness of destinations, attracts environmentally conscious travelers, and generates economic opportunities. The speakers for first session were Indonesia Chamber of Commerce Industry (KADIN), United National World Tourism Organization (UNWTO), World Economic Forum, United Nations Development Programme (UNDP), and Australian Ambassador for Indonesia.

Second session is about Innovations and Initiatives in Shaping Market Preferences on Sustainable Tourism. There is growing consumer demand for sustainable experiences. Travelers are becoming more conscious of their environmental footprint and are actively seeking out eco-friendly accommodation, tour operators, and destinations. As the market grows, there is an increasing number of innovative business models and technologies emerging in areas of sustainable tourism. The speakers for second session were from Banyan Tree Holdings, Amadeus, Agoda, Locavore Restaurant, and Wise Steps Group.

In the third session, we were having discussion about Trends & Pattern of Investment in Sustainable Tourism. The trend of investment in sustainable tourism reflects the growing recognition of the importance of environmental and social responsible in tourism industry. Investors are capitalizing on the potential for market growth, consumer demand, and the alignment of sustainable practices with long-term profitability. As sustainability becomes a more central focus in the industry, it is expected that investments in sustainable tourism will continue to evolve and expand in the years to come. The insightful discussion was attended by amazing speakers which from International Finance Corporation (IFC), UOB Group, JLL Hotels & Hospitality Group Asia Pacific, Qatar Investment Authority, and Vynn Capiral /Amundi Asset Management.

In the following session, Labuan Bajo Flores Tourism Authority had a chance to pitch about Parapuar project, presented by Miss Shana Fatina, the President Director. Parapuar is an 400 hectares authority land which located in the hearth of Labuan Bajo. As the planning, Labuan Bajo Flores Tourism Authority will develop the basic infrastructure for the investors. So that, investor may able to develop the amenities like hotel & resort and other amenities. Our fellowship, Toba Lake Tourism Authority and Borobudur Tourism Authority had a presentation about their project as well.

We also had breakout session, which we discuss a lot more comprehensive about the land projects. In the night we hand dinner with all participant included with some Special Economic Zone (Kawasan Ekonomi Khusus) e.g Morotai, Tanjung Lesung, Kura Kura Bali, and other privates. And as the result of the forum, Martha Tilaar got interest in partnership with 3 Tourism Authority (Labuan Bajo, Borobudur, and Toba Lake) and sign Letter of Intent (LOI). What a moment!

In the next day, we had Association of Southeast Asian Nations (ASEAN) workshop on Investment Facilitation and Sharing Best Practices. Next, we had site visit to Kura Kura Bali Special Economic Zone.

—
Engel Vione
IT Support Specialist & Public Communication Officer
Labuan Bajo Flores Tourism Authority