The year 2022 can be considered a turnaround year for the tourism sector, as reflected in the positive performance achieved by Panorama (PANR). The company successfully recorded Revenue of Rp 1.52 trillion, an increase of 538% compared to the Rp 239.2 billion recorded in 2021. From this Revenue, the company achieved a Net Profit of Rp 29.3 billion for the year 2022. This positive performance was driven by pent-up demand, or increased demand resulting from the relaxation of various restrictions during the pandemic.

The pent-up demand occurred in both domestic and international markets (foreign tourists).

"In 2022, we recorded a significant increase in travel and vacation bookings, particularly from the second quarter until the end of the year. This was observed across all segments, including Indonesians traveling abroad and international tourists visiting Indonesia, Thailand, and Malaysia. There was a 251% increase in outbound leisure tourism (Indonesian tourists), and a 330% increase in inbound leisure tourism (foreign tourists)," said AB Sadewa, Corporate Secretary of PT Panorama Sentrawisata Tbk (PANR).

The company expects the pent-up demand to continue for the next 2-3 years. Therefore, the strategy is to continue developing products that meet market demands while implementing smart operations to reduce operational costs by 50-60%. Smart operations were introduced before 2019 and further intensified during the pandemic. Some initiatives include:

• Panorama Agent as a B2B2C business model,

• Corporate Online Booking Tools to provide corporate clients with access to book travel products (tickets, hotel vouchers, transportation),

• Panorama.ID as a platform specifically for travel products and vacation packages,

• Various back-end applications to support the productivity and efficiency of the company’s operations.

These efforts are aimed at increasing revenue while keeping operational costs under control.

Although the January to February 2023 period is usually considered low season, the market remained positive, as seen in the strong booking trends during various travel exhibitions attended by the company.

Several destinations that are currently in demand for Ramadan and Eid holidays include Japan, South Korea, and Moslem Tour products, which are becoming increasingly popular in the market.