US EditionDeclining Eid travel and spending dampen holiday spirit as soaring prices hit Indonesia
- In Indonesia, Eid al-Fitr, celebrated on Sunday, saw 146 million travelers, a 24% decrease from the previous year, according to the Transportation Ministry.
- Economic hardship, currency depreciation, and mass layoffs in manufacturing have strained the Indonesian economy, impacting corporate earnings and worker incomes.
- The Indonesian Chamber of Commerce and Industry projects money circulation during Eid will reach 137.97 trillion rupiah , down from 157.3 trillion rupiah last year, and Bank Indonesia's Consumer Confidence Index dipped to 126.4 in February.
- Bhima Yudistira, Executive Director of the Center for Economic and Law Studies , stated that these trends indicate the economy is under strain, weakening corporate earnings and workers' incomes, suppressing consumer spending, and leading to a less vibrant festive season.
- The subdued festive mood is palpable as soaring prices and dwindling incomes force residents like Endang Trisilowati, a mother of four, to scale down festivities and prioritize basic needs, reflecting a broader decline in consumer spending and a predicted slowdown in cash circulation, with Trisilowati stating that "the economic hardship is affecting us" and "the spirit is low.
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Associated Press News+22 Reposted by 22 other sources
Declining Eid travel and spending in Indonesia and discrimination in India dampen holiday spirit
The usual festive mood of Eid al-Fitr holiday to mark the end of the Islamic holy month of Ramadan has been subdued in Indonesia this year as people grapple with soaring prices for food, clothing and essential goods.
·United States
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