On Saturday (18/08) the opening ceremony for the 2018 Asian Games was held in the Gelora Bung Karno stadium in Central Jakarta. It is only the second time in history that Indonesia hosts this event (the first time being in 1962). Between 18 August and 2 September 2018, Asian athletes will compete in nearly 500 events, involving 40 sports disciplines.

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Two international events are estimated to have a significant impact on the Indonesian economy in 2018. Firstly, the 2018 Asian Games, to be held from 18 August to 2 September 2018 in - and around - the Indonesian cities of Jakarta and Palembang. Secondly, the 2018 annual meetings of the International Monetary Fund (IMF) and World Bank Group, to be held in Nusa Dua, Bali, on 12-14 October 2018. Both events will trigger foreign exchange earnings and give rise to a boost in economic activity.

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Lin Che Wei, CEO of the Jakarta Old Town Revitalization Corporation, said that renovation of the Kota Tua area is expected to be finished before the start of the 2018 Asian Games. Kota Tua (Old Batavia) is the oldest part of Jakarta, located in the northern part of Indonesia’s capital city, spanning 1.3 square kilometres, and used to function as the centre of Dutch colonial rule in the 17th and 18th century. Currently, however, many buildings in the Kota Tua area are in a state of near collapse although the area has great tourism potential.

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For the second time in history Indonesia hosted the Asian Games (the first time being in 1962). Between 18 August and 2 September 2018 the event was held in the Indonesian cities of Jakarta and Palembang. While, initially, there had been some concern about whether all infrastructure would be ready before the start of the Games and whether radicals would be eager to attack, at the end of the day everything went rather smoothly even though Indonesia only had two years and four months to prepare itself for the event (after Vietnam pulled out suddenly).

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