PT Panorama Sentrawisata Tbk (PANR), a travel service provider, successfully achieved a turnaround in Q2 2022, after two years impacted by the pandemic, posting a profit of Rp 3.3 billion with revenue of Rp 375 billion. This contributed positively to the company’s performance for the entire first half of 2022, where total revenue reached Rp 426 billion, and the loss decreased to Rp 20.6 billion, compared to Rp 24 billion in Q1 this year. This performance is largely attributed to the Travel & Leisure segment, which handled over 53,000 travelers through group tours, both domestic and international, business trips, and the sale of travel-related products such as tickets, hotel vouchers, and other travel products.

The easing of both domestic and international travel restrictions, along with more countries reopening their borders for tourist visits, has been a key factor in the recovery of the tourism sector. This led to a 231.4% increase in revenue, from Rp 128.6 billion in H1 2021 to Rp 426 billion in H1 2022. In June, Japan and South Korea reopened their borders to tourists, which are two popular destinations for Indonesian travelers. However, Turkey has become the most visited country, followed by Western Europe, which is also favored by the company’s customers.

"In Q2 this year, we benefited from the momentum of Eid holidays and school vacations, coupled with the high enthusiasm from the market to travel again. With this positive trend, we are confident that the company will deliver a positive performance throughout 2022," said AB Sadewa, Corporate Secretary of PT Panorama Sentrawisata Tbk.

"During the Eid and school holiday periods, we sent dozens of group tours abroad to popular destinations, including Turkey and Western Europe. Domestic destinations such as Bali, Yogyakarta, and Labuan Bajo are also highly popular. Currently, we are focusing on increasing inquiries from the Inbound pillar as demand for international tourists (wisman) to travel to Indonesia, Thailand, and Malaysia continues to rise," Sadewa added.

The Inbound segment, managed by the company, has also started to feel the positive impact of Indonesia's government policies regarding the entry of foreign tourists. These policies include: the removal of quarantine requirements for foreign tourists, Visa on Arrival (VOA) for 72 countries, the elimination of PCR tests upon arrival in Indonesia, and the lifting of quarantine for international travelers. The main requirement for foreign tourists coming to Indonesia is that they must have been fully vaccinated in their home country, making a holiday in Indonesia an attractive option.

"Throughout Q2 2022, the company has handled more than 9,000 foreign tourists, mostly from Europe, visiting Indonesia, followed by Thailand and Malaysia. For Indonesia, besides Bali, which remains the most popular destination, the Java-Bali overland tour has been highly sought after by tourists from Western Europe, particularly from the Netherlands, Germany, Poland, as well as Scandinavian countries like Denmark, and also from South Africa," Sadewa concluded.

With the current situation, the company is optimistic that 2022 will perform better than 2021, and the implementation of smart operations will improve productivity while boosting business growth toward normalization in the upcoming year.