Looking East – Jakarta
Jakarta is the capital and largest city of Indonesia. With a population of approximately 10 million people it is the 13th largest city in The World. Indonesia itself is the fourth most populous country in the World. Jakarta is a dynamic and burgeoning city but sadly The Magnum Café has now closed down!
Yes, that’s right, the Magnum Café, a pop-up café that opened in February 2011 closed its doors in January 2012, having served 320,000 customers.
The café sold hundreds of Magnums each day and charges about $1.38 for each one. This may seem cheap by European standards but isn’t when juxtaposed with the fact that according to the World Bank data, the average Indonesian lives on less than $6 per day.
However, if you’re feeling hungry I understand they have opened two more, in Bandung and Surabaya.
As the 3rd fastest-growing E7 country Indonesia has seen growth since 2007 of over 25%
What will be the outlook for the Indonesian economy in 2012?
The expanding Indonesian middle class will increase their demand for premium products:
- LCD and LED televisions, for instance, will dominate the television market instead of the outdated CRTs.
- 22,000 new motorcycles are hitting the streets of Indonesia every single day.
- Increasingly expensive condominiums and houses will be more readily seen throughout larger cities.
- Domestic car sales will reach a new milestone by achieving 1 million cars in 2012.
All of these stories can be summed up by a simple conclusion, which is a robust economy that will produce more growth in 2012 and beyond.
