Bank Indonesia noted that the implementation of Formula E Jakarta was able to encourage economic growth in the capital city in 2022. In its monthly report, BI stated that Formula E contributed to boosting investment, tourism and trade business performance. Bank Indonesia Jakarta Representative sees that there are new sources of economic growth that drive Jakarta's economy, such as the Jakarta Formula E electric car race, then national and international music concerts, all of which are able to boost household consumption performance in 2022. "Hopefully Jakarta (growth) economy) remains high because we see a lot of events, new sources of growth can be seen," said Head of BI DKI Jakarta Representative Onny Widjanarko in a business economics seminar at the Kempinski Hotel, as quoted by Antara, Tuesday, June 28, 2022.
Bank Indonesia estimates that the economy of DKI Jakarta in 2022 will grow in the range of 5.3 to 6.1 percent or higher than the previous year, which reached 3.56 percent. Household consumption will be the main source of economic growth in the capital city. The soaring performance of household consumption is in line with the policy of easing community activities after the positive cases of COVID-19 were controlled and the acceleration of vaccination. The increased mobility of the people has contributed to the opening of the economic sector so that it has the potential to increase the availability of employment opportunities and boost people's income. The allowed homecoming activities and the holding of meeting or MICE activities (meetings, incentives, conferences and exhibitions) also contributed to the performance of household consumption. Meanwhile, government consumption is expected to focus on priority programs such as infrastructure, food security, tourism and other sectors, in addition to continuing the COVID-19 response program.
The Bank Indonesia report explained that investment performance in 2022 is estimated to grow higher than 2021 driven by the continuation of the National Strategic Project (PSN) in Jakarta. The PSNs include six inner-city toll roads, MRT, LRT, to DKI Provincial Government projects such as the Jakarta International Stadium (JIS) and the revitalization of Taman Ismail Marzuki (TIM). The addition of new projects in 2022 such as the construction of section B toll roads and the implementation of Formula E in Jakarta is also expected to increase investment in buildings in DKI Jakarta in 2022. Export performance in 2022 is also estimated to continue to grow high, including exports of services, namely tourism. "The holding of various events and MICE on an international scale, including Formula E, the G20 presidency, IIMS and various national and international music concerts are expected to encourage foreign tourist visits," said the BI Jakarta report. Meanwhile, in terms of the trading business field, for example, it is also estimated that Jakarta will grow positively in 2022 in line with the easing of community activities. Other factors that drive trade performance in Jakarta include homecoming activities during Eid al-Fitr, Luxury Goods Value Added Tax (PPnBM) incentives for several types of cars, the G20 presidency and Formula E Jakarta and the MICE industry.
Source: https://metro.tempo.co/amp/1606632/bank-indonesia-formula-e-dorong-pertumbuhan-ekonomi-jakarta
