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:
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)
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