Economy
Three decades ago, the Balinese economy was largely agriculture-based in terms of both output and employment. Tourism is now the largest single industry in terms of income, and as a result, Bali is one of Indonesia’s wealthiest regions. About 80% of Bali's economy depends on tourism; Note: non-referenced % in the article: in fact a great number of the population still lives thanks to agriculture although this situation is changing rapidly. By end of June 2011, non-performing loan of all banks in Bali were 2.23 percent average, relatively quite low compare to about 5 percent average of Indonesian banking industry non-performing loan. The economy, however, suffered significantly as a result of the terrorist bombings 2002 and 2005. The tourism industry is slowly recovering once again.
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Famous quotes containing the word economy:
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)