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Bali's battered economy struggles to recover
From Atika Shubert
(CNN) -- Bali's image as an international tourist paradise was blown to pieces by the October 12 bomb attacks in the resort area of Kuta. Tourist arrivals have plummeted, sending the island's economy into freefall. According to estimates a staggering 80 percent of Bali's economy depends on tourism. Now much of that business and the much-needed tourist dollars have dried up. Efforts to kickstart the trade have been hampered with travel warnings from governments in Australia, the U.S., the U.K. and a host of other nations advising their nationals to avoid Bali. Nonetheless Bali is trying hard to get back on its feet, promoting its still beautiful beaches, lush rice fields and exotic culture and pinning its hopes on a new slogan: Bali, Get into it! It's an upbeat message designed to make visitors forget about the horrors that came to island just a few weeks ago. But there's no denying the reality of empty hotels and restaurants Hotel Manager Jim Wayan has lived in Bali since the 70's and says he is expecting the worst. "The problem that is not helping Bali is the fact that all governments in the world are telling people not to go to Bali." "I just feel so sorry for everyone involved in Bali," he says. "Because as I tell my staff: No guests, no salary. It's a catch 22." Falling tradeMost affected are locals who rely on the tourist trade to support their families. In the popular main resort areas dozens of taxi drivers circle aimlessly looking for fares.
The same goes for the beach vendors -- individuals with no safety net who rely on the tourist trade to get by. Able to do little else they still ply the beaches but there are fewer and fewer people to sell to. But while Bali and the Balinese will suffer the most in the wake of the attacks, the economic impact reaches far beyond these shores. Across Indonesia the threat of further terrorist attacks remains a real one. In the capital Jakarta, schools are closed due to a "specific and credible threat" --another reason international investment is staying away. Already struggling with a long-lasting economic crisis, alarm bells are ringing once again. The government's growth projections have dropped from 5% to hovering at 3%. Meanwhile the national currency, the rupiah, has weakened significantly -- speeding past 9,000 to the U.S. dollar, from 8500 just a few months ago. The full economic impact of the Bali bombings has yet to be felt but Indonesia is preparing for worse to come.
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