The tourism sector shows positive growth in early 2023. Panorama (PANR) successfully recorded a 350% increase in revenue in Q1 compared to the same period last year. According to the company's financial report, revenue this year amounted to Rp832 billion, with a net profit of Rp36.1 billion, a significant turnaround from the loss recorded in the same period last year.

“The growth in revenue this quarter is a result of internal consolidations, realignments, and the momentum of pent-up demand that we have successfully leveraged,” said Angreta Chandra, CFO of PT Panorama Sentrawisata Tbk.

The largest share of the revenue came from the Travel & Leisure division, which handles Indonesian travelers both domestically and internationally, contributing around 85% of total revenue. This was followed by the Inbound division, which manages foreign tourists visiting Indonesia, Thailand, and Malaysia.

“The demand from foreign tourists wanting to vacation in the three countries where we operate is extremely high, which creates a strong growth opportunity for the Inbound division,” added Angreta.

In Q1 2023, Panorama served over 100,000 tourists, including both domestic (wisnus) and international (wisman) travelers, with destinations in Indonesia and abroad. This figure also includes business trips from companies in Indonesia. Domestic destinations like Bali and Labuan Bajo were among the top choices during the Lebaran period, while international destinations such as Japan, South Korea, and Southeast Asian countries remained popular.

Panorama remains optimistic that the tourism sector will continue to thrive in 2023. “We are confident that the performance in 2023 will deliver maximum benefits to our shareholders, as tourism returns to being a key economic contributor both nationally and globally,” concluded Angreta.