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https://en.antaranews.com/news/115009/jokowi-underlines-middle-class-growth-as-asean-power


Jokowi underlines middle-class growth as ASEAN power

Reporter: SYSTEM 23 hours ago

Indonesian President Joko Widodo spoke to CEO Forum Lunch at a 10-member
Association of Southeast Asian Nations (ASEAN) Summit in Sydney, Australia
on Saturday (17/3/2018).(ANTARA /Mark Metcalfe/Pool via REUTERS)

Sydney (ANTARA News) - Indonesian President Joko Widodo (Jokowi) has
underlined the growth of the middle class in Asia Pacific and Southeast
Asia as the economic power in the regions.

"There is significant growth in the middle class in Asia and Asia Pacific.
For the time being, we must ignore the number of political issues carried
in the front pages of newspapers, because the most important fundamental
and historic development currently happening in the world is the growth of
the middle class, which is continuing to increase in Southeast Asia," he
said, in the presence of company leaders and Australian Prime Minister
Malcolm Turnbull at the CEO Forum of ASEAN-Australia Special Summit at
International Convention Center here, on Saturday.

"There is one important thing that differs in the current cycle of growth
of the middle class this time, which is digital economic development, in
particular social media," he stated.

"Selfies have changed the world and even evolved into `wefie` and `vlog.`
In Kalibiru, Yogyakarta, people queue for hours to get an opportunity to
take perfect selfies, which Bloomberg calls `an Instagram garden,`" he
noted.

Digital economy and social media, according to Jokowi, have brought
fundamental changes in consumption pattern.

"The middle class and the youngsters are more interested in experiencing
adventure rather than luxury goods. That is what has made tourism industry
grow," he remarked.

Quoting Bloomberg data, he stated that the world`s economy only grows three
percent a year, but the tourism industry has grown seven percent. Bloomberg
predicts one of the four new jobs in the next 10 years to come from the
tourism industry.

"Again, 25 percent of new jobs in the world will come from the tourism
sector. This is an extraordinary opportunity for ASEAN and Australia to not
only promote tourist destinations for the middle class in China and India
but also develop it as a big market for domestic tourism industry," he
revealed.

Australia can be one of the tourist destinations for development of tourism
industry in Asia.

"Several years ago, when the price of commodities fell, Australia had
stated, `let us change the explosion of mining into an explosion of
dining`. I have said let us move the explosion of dining to ASEAN," he
explained.

Moreover, he added that ASEAN was just investing a lot in infrastructure
development, such as airport, seaport, and railway development, and some
ASEAN member countries have even started developing fast train system for
the first time.

"This is an opportunity for Australian business players. ASEAN also needs
to create big capital markets such as capital market for dollar and Euro
zone. This is a big opportunity for Australian banks and financial
industry. Unless it is taken, other financial companies will certainly take
it," he elaborated.

Jokowi urged Australian businessmen to do business in ASEAN, especially
Indonesia.

"Now is perhaps a colorful time, in the midst of current global and local
political situation, but it also offers an encouraging moment to improve
the relations between ASEAN and Australia in the fields of trade, tourism,
and investment. I welcome you to ASEAN and Indonesia," he noted.

Sharing Jokowi`s view, Turnbull pointed out that the middle class in
Indonesia would grow many folds by 2030, opening more opportunities in
investment and trade.

"However, the governments and businessmen must remain committed to rules
that have been agreed upon for free and open trade, as opening a market may
not happen by itself but needs support and commitment from business and
governments. Therefore, I invite all of you to assure that the rules are
honored in the region," he stressed.

Reported by Desca Lidya Natalia
(H-YH/INE)
(T.SYS/B/KR-BSR/S012)

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