Jakarta, Feb. 18 -- Jakarta generated Rp9 trillion ($532.7 million) in economic activity during the 2026 Lunar New Year holiday, underscoring the growing role of large-scale cultural events in driving consumption in Southeast Asia's biggest economy, Deputy Governor Rano Karno said Wednesday.

"The Lunar New Year celebrations generated Rp9 trillion in economic circulation in Jakarta," Karno told reporters in the capital, citing preliminary government estimates.

The provincial administration now expects spending during Ramadan and the run-up to Eid al-Fitr to surpass Rp20 trillion ($1.2 billion). This year, the Hindu Day of Silence, Nyepi, falls on March 8, creating a dense holiday calendar that officials believe will further stimulate ret...