Economists will definitely confirm that it is real. There are a lot of evidences to look around, from the downfall of financial and automotive giants in the US to the urge of Indonesian government to flow fiscal stimulus. Fortunately in Bali where I life and make a living, I do not see it impacts both in my daily life as well as in the business I am in.
I may be wrong. This is a rough conclusion from what I have seen through my own eyes. And my eyes could be wrong. I fact I am very dependant to a cylindrical glass. Well, I do not want to mislead people. Quite contrary, I want to encourage people to look into things from the positive sides, at at least if it is at all negative, to find a way to turn it around.
I guess my lifestyle helps has saved me from the impact of global financial crisis. With almost everything I consume, from meals to clothing and even vehicle, is locally produced, I can afford anything I need the same way as two years ago. Few things like gadgets and computers did not bite quite an attention as I do not buying these stuffs everyday.
Running a holiday rental business I found that closing to peak holiday season coming between July and September, my salespersons are crying for supplies. Inquiries are flowing in whilst supplies are no longer exist. All villas in Bali are booked out during the period. Supply for Christmas - New Year period which is still a half year ahead starts to run out as well.
It is definitely not a picture of myself alone, I believe. My fellows in the same business confirmed similar situation. Bali tours are foreseeing similar picture. I believe the whole tourism industry in Bali is not really affected by global economic crisis. Officials announced that number of tourist visits recorded a slight increase in the first four months of 2009 compared to the same period of previous year.
Thank God that I life in Bali. It is a real paradise, I think. More than beautiful beach and sunshine along the year, it protects from the harm, even the one flow from the most powerful country.
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hello my friend, this is my first visit to this blog.. several days ago I decide to build a new different blog that just use English.. I know ability in English is s*ck, but I dont care.. LOL
Most of our clients are expatriate from Hongkong and Singaporean, i think Global Crisis isn’t real, at least in Asia
The financial crisis has been called the worst financial crisis since the one related to the Great Depression by leading economists, and it contributed to the failure of key businesses, declines in consumer wealth estimated in the trillions of U.S. dollars, substantial financial commitments incurred by governments, and a significant decline in economic activity.