Tourism

The tourism industry is primarily focused in the south, while significant in the other parts of the island as well. The main tourist locations are the town of Kuta (with its beach), and its outer suburbs of Legian and Seminyak (which were once independant townships), the east coast town of Sanur (once the only tourist hub), in the center of the island Ubud, to the south of the Ngurah Rai International Airport, Jimbaran, and the newer development of Nusa Dua and Pecatu.
The American government lifted its travel warnings in 2008. As of 2009, the Australian government still rates it at a 4 danger level (the same as several countries in central Africa) on a scale of 5.
An offshoot of tourism is the growing real estate industry. Bali real estate has been rapidly developing in the main tourist areas of Kuta, Legian, Seminyak and Oberoi. Most recently, high-end 5 star projects are under development on the Bukit peninsula, on the south side of the island. Million dollar villas are being developed along the cliff sides of south Bali, commanding panoramic ocean views. Foreign and domestic (many Jakarta individuals and companies are fairly active) investment into other areas of the island also continues to grow. Land prices, despite the worldwide economic crisis, have remained stable.
In the last half of 2008, Indonesia's currency had dropped approximately 30% against the US dollar, providing many overseas visitors value for their currencies. Visitor arrivals for 2009 were forecast to drop 8% (which would be higher than 2007 levels), due to the worldwide economic crisis which has also affected the global tourist industry, but not due to any travel warnings.
Bali's tourism economy survived the terrorist bombings of 2002 and 2005, and the tourism industry has in fact slowly recovered and surpassed its pre-terrorist bombing levels; the longterm trend has been a steady increase of visitor arrivals. The Indonesian Tourism Ministry expected a record number of visitor arrivals in 2010.
Bali received the Best Island award from Travel and Leisure in 2010. The award was presented in the show "World's Best Awards 2010" in New York, on 21 July. Hotel Four Seasons Resort Bali at Jimbaran also received an award in the category of "World Best Hotel Spas in Asia 2010". The award was based on a survey of travel magazine Travel + Leisure readers between 15 December 2009 through 31 March 2010, and was judged on several criteria. The island of Bali won because of its attractive surroundings (both mountain and coastal areas), diverse tourist attractions, excellent international and local restaurants, and the friendliness of the local people.