After contracting 13 percent during the Asian financial crash of 1997-98, Indonesia's consumption-driven, resource-rich economy has undergone 13 years of uninterrupted growth -- even during the global banking crisis -- surging an average 6.3 percent annually since 2010. The country's stock market has performed even more spectacularly. As of May TK, it had leapt 350 percent from its October 2008 nadir -- making it the second best performing market over that period out of 94 tracked by Bloomberg.
Last year, when gross domestic product hit $846 billion and foreign direct investment jumped 26 percent to a record $23 billion, Indonesia overtook the Netherlands to become the 16th biggest economy, according to data compiled by Bloomberg.
And if it maintains its present growth rate, by 2030 it will have leapfrogged Germany and Britain to rank number seven in the world, consulting firm McKinsey predicts. Much sooner than that, in 2020, the number of middle class and affluent Indonesians may double to more than 141 million, Boston Consulting Group said in a March 6 report.