Jakarta. Indonesia is expected to see a weakening financial turnover this upcoming Eid holiday season as fewer people choose to travel, according to the country's chamber of commerce Kadin.

It has become a tradition for countless Indonesians to go back to their hometowns during the Eid holidays, which will last for almost two weeks. Many of these holidaymakers spend their Eid bonuses on these travels, souvenirs, and other needs for their beloved families. Surveys, however, show that only 146.48 million Indonesians will travel this Eid homecoming season, marking a 24 percent drop from 193.6 million travelers recorded last year. Less holidaymakers mean a smaller Eid economy for Indonesia.

Kadin's estimates show that the financial turnover this Eid season will reach nearly Rp 138 trillion (about $8.3 billion), down from Rp 157.3 trillion over the same period in 2024. 

"146.48 million people is equivalent to 36.26 million families. Let's assume that each family has 4 members. So the [around Rp 138 trillion] financial turnover estimates are based on our assumptions that the average family brings Rp 3.75 million [during their Eid travels]," Kadin's deputy chairman Sarman Simanjorang said Tuesday.

Even so, the financial turnover will likely be higher in actuality as the aforementioned average family spending estimates are still within a "moderate" level. Based on average of Rp 4 million per family, the turnover can soar to Rp 145 trillion, although it is still lower than last year.

Sarman attributed the double-digit drop in the Eid traveler volume to massive layoffs, weakening purchasing power, and poor weather conditions. Many people prefer to save their money for their kids as the school year approaches. The 2025 Eid al-Fitr -- which will likely fall on March 31 -- is also only a few months after the year-end holidays. So people who had already gone on vacation during the year-end holidays might choose to stay home this time, Sarman said.

The central bank has prepared Rp 180.9 trillion in cash for the Ramadan and Eid period. Sarman claimed that 60 percent of the money would circulate around the Java island which had been a major destination for Eid travels. The rest will likely circulate in other regions such as Sumatra, Kalimantan, and Bali.