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Forex Targets Remain Unchanged

Culture and Tourism Minister Says Government Holding Firm on Foreign Exchange Targets.

(9/15/2003) Speaking at the TIME Tourism Indonesia Mart & Expo on September 4, 2003, Indonesia's Minister of Culture and Tourism, I Gde Ardika announced that the Government is holding firm with its target of US$ 4.5 billion in foreign exchange earnings from the tourism sector. The Minister said, "we are optimistic that that target will be achieved."

Foreign tourist arrivals nation-wide during the first six months of 2002 totaled 2 million on its way to a targetrd 4.5 million visitors for the entire year.

Based on previous years' data, the Government anticipates an average expenditure of US$ 1,000 from each foreign visitor to the country.

Admitting that the Indonesian tourism industry continues to operate in a difficult business environment, the Minister remains optimistic that intensified promotional efforts and improvements in the national tourism product range will still make the current targets viable.