Doing Business in Bali
Many expatriates come to Bali for a more ambitious goal than just to spend luxurious getaway moments. They want to do businesses and make increasingly growing profits. They do that for so many different reasons.
First of all, it is the picturesque natural landscapes that offer diversity of beaches and mountains in a humid tropical climate that give any business people opportunities to get a more balanced life. Second, it is the friendly people and vibrant environments that set warm atmospheres in any kinds of occasions—both in personal or professional settings. Third, and maybe the most important things are the cheap living cost and labor cost. Therefore, it is no surprise if more and more foreigners come to Bali to find their fortune in this beautiful island.
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TOP 5 POTENTIAL BUSINESS AND INDUSTRIES IN BALI
There are several businesses and industries that become the most prospectus ones and increase more popularity nowadays. Among them are:
Bali’s strong characteristic as a tourism destination makes property price elevate strongly for the past several years. Many foreigners invest in hotels, villas, and restaurants business in Bali. Therefore, the demand of good properties in strategic locations is also increasing gradually. Several locations are prospectus gold mining for property business in Bali, including Seminyak, Ubud, Sanur, and Canggu.
Northern part of Bali and Seminyak are reported to be the places with the highest occupancy rates and quickest break even years because the two places are always packed with both domestic and international tourists. Therefore, investing in Property in Bali is predicted to be one of the most profitable industry foreigners can try.
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#2. Tourism Industry
Foreigners also come to Bali with the hope of participating in one of the most lucrative business sectors—tourism. They want to open hotels, resorts, inns, restaurants, cafes, spa, beauty & wellness services, etc. There are more than 1,500,000 foreign tourists from many countries all over the world and millions other domestic tourists come to Bali every year for holidays. Therefore, tourism industry is a never ending business in this area. It means that, other businesses that support the main tourism industry, such as food and beverage suppliers, hotel and restaurant suppliers, security services, event organizers, etc. are also extremely on demand.
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#3. Cultural Products Manufacturer, Exporter, and Trading Company
As an island with rich cultural heritages, there are so many artists in Bali. Old and young people of Bali and its neighboring islands commonly master some cultural skills that produce high and export quality handicraft, furniture, and other art products like painting, sculpturing, jewelry, etc. That makes several foreigners come to Bali to establish a manufacturing company for such cultural and art products and then export them abroad. Some other only prefer to purchase the art products and sell them. Those kinds of manufacturing, exporting, and trading companies are also good prospects for anyone who loves creative industries.
#4. Fashion Industry
Every person who travels for holidays will always shop. That is the reason why fashion industry is mushrooming in Bali. Many foreigners open shops and small fashion businesses in Bali and establish their own fashion brands. Clothes, jewelries, glasses, perfume and cosmetics, shoes and sandals, sport attires (bikinis, surfing and swimming clothes), ethnic accessories, and bags are some examples that foreigners practice in Bali. Some started from zero, but some others chose Bali to expand their fashion brands that have existed. Many said that Bali gives a lot of inspiration in terms of designs and innovations because of its rich culture and dynamic lifestyle.
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The last, but not least, is Startups businesses. Again, the main reasons are the cheap living cost, affordable renting cost, relatively low labor cost, mixed with the never stop lifestyle of the people in Bali so that ideas can be generated more easily and productively. Moreover, the growing development of collaborative co-working spaces with reliable internet connection also triggers the establishment of more and more startups companies in Bali. Surely, Bali is a proper place for such companies because the dynamic environments with relatively low operational costs(for almost all things necessary to start a new business) really support the development of startups. In addition, you can mix between your personal and professional life as well as work and pleasure, which are typically needed when ideas and innovations become the main priority of your business.
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HOW DO I START?
Cekindo can help you facilitate the things you need to start your business in Bali. There are also several other business opportunities that you can try in Bali. We will gladly answer all of your question if you really have the passion to establish a business in one of the most passionate islands in this world, Bali.
Contact us now or submit your questions through the form below.