Invest in Bali Property: Booming Tourism Drives Record Growth in 2024
“An in-demand tourist destination is not merely a place on a map; it's a magnet for wanderlust, a canvas of culture, and a symphony of experiences waiting to be explored.”
Bali, known as the "Island of the Gods," has once again proven its resilience as one of the world’s most sought-after travel destinations. After a strong recovery in 2023, welcoming 5.3 million international tourists, officials are setting their sights on an ambitious goal of 7 million visitors in 2024.
Let’s explore the latest tourism trends, growth forecasts, and what these record-breaking numbers mean for property investors looking to capitalise on Bali’s booming demand.
Bali Officials Set Sights on Record Numbers for 2024
In 2023, Bali surpassed expectations by welcoming 5.3 million tourists, firmly re-establishing itself as a top global travel destination. While officials are targeting 7 million visitors in 2024—a 32% increase—it’s important to take a realistic view of tourism growth trends.
A Realistic Growth Forecast
Looking at the past 15 years, Bali has experienced steady tourism growth, with an average increase of 404,000 visitors annually in the decade before the pandemic. Based on these patterns, Geonet Property & Finance Group (GPFG) predicts a more sustainable annual growth rate of 11%, which would bring Bali’s international arrivals to:
5.83 million in 2024
6.47 million in 2025
This steady growth still offers robust opportunities for property investors, especially as Bali continues to attract a global audience.
DIRECT FOREIGN TOURIST ARRIVALS TO BALI IN 1971 – 2023
Australians Leading the Way: A Record Year
Australia remains Bali’s #1 international market, with 1.3 million Australians visiting the island in 2023—surpassing 2019’s pre-pandemic numbers.
"Aussies love Bali, there’s no denying it," says Mark Reed, GPFG International Sales Manager. "They’re drawn to the beaches, the restaurants, the culture, the surfing, and of course, kicking back with a few Bintangs. What’s not to love?"
Key Trends Driving Australian Tourism to Bali:
Short travel time: A direct flight to Bali from Sydney or Melbourne takes approximately six hours and only three and a half hours from Perth.
Affordable luxury: Bali offers Australians a more affordable way to experience high-end villas and resorts compared to domestic travel.
Culture and adventure: From temples to world-class surfing spots, Bali appeals to a wide variety of travellers.
SE Asia’s Growing Market
While traditional markets like China and Japan have been slower to recover, neighbouring countries in Southeast Asia have emerged as major contributors to Bali’s tourism boom.
India: The #2 source market in 2023, with numbers continuing to grow.
Singapore, Malaysia, and Vietnam: These countries are driving regional tourism, with increased direct flights making Bali more accessible.
TOP 20 DIRECT FOREIGN TOURIST ARRIVALS TO BALI – 2023 vs. Pre-Pandemic
Domestic Tourism: A Key Contributor
Bali’s domestic tourism is also thriving, with 10 million Indonesian tourists visiting the island in 2023. December alone saw a record 1.2 million domestic visitors, underscoring Bali’s popularity among locals.
DOMESTIC TOURIST ARRIVALS TO BALI, MONTHLY
More Direct Flights in 2024: A Boon for Investors
To meet rising demand, airlines are adding more direct flights to Bali in 2024. This increased accessibility is a key driver of tourism growth and, by extension, property investment opportunities.
New and Expanded Routes for 2024:
India: Vistara offers daily flights, and IndiGo will introduce twice-daily routes from Bangalore starting in March.
Australia: Garuda Indonesia is increasing flights from Sydney and Melbourne, while Batik Air is adding a new route from Canberra.
Middle East and Europe: Etihad Airways will begin direct flights from Abu Dhabi in April, creating more options for long-haul travellers from Europe.
"These expanded routes are a great indicator of Bali’s growing appeal," says Reed. "For property investors, they reinforce the island’s potential for consistent tourism demand."
Why Bali is a Prime Destination for Property Investors
Bali’s enduring allure, coupled with its growing tourism numbers, makes it an excellent market for cash-flow-positive property investments. Whether you’re exploring fractional ownership, purchasing a luxury villa, or leveraging equity, Bali offers a host of benefits for savvy investors.
What Makes Bali an Attractive Market?
Booming Tourism: Steady growth in visitor numbers ensures high rental demand.
Affordable Entry Points: Bali properties are significantly more affordable than their Australian counterparts.
Tax Benefits: Investors enjoy similar tax advantages to those in Australia, including depreciation.
Passive Income Opportunities: Bali properties generate consistent rental returns, thanks to strong occupancy rates.
"Bali’s allure isn’t going anywhere," Mark emphasises. "The combination of growing tourism, affordable prices, and high yields makes it a dream market for property investors."
Access Bali Tourism Data and Investment Opportunities
For a deeper dive into Bali’s tourism statistics, check out the latest reports from the Bali Tourism Office:
Bali is poised for continued growth in 2025 and beyond, offering investors a unique opportunity to capitalise on the island’s booming tourism industry. With steady visitor increases, expanded flight routes, and demand for high-quality accommodation, Bali remains one of the world’s top property investment destinations.
Discover money management investment secrets and more information on the ins and outs of Bali property investment by accessing our educational video content.
Head to our main website to get started: balipropertyinvestment.com.au
