Strategy for Improving the Local Economy in the Mandalika Area Using Swot Analysis and Pls-Sem Approach

Abstract

Local economic development is a collaboration between the community, local government and the private sector to create better economic conditions and generate jobs. The aim is to strengthen the economy at the local level in a sustainable manner, with the hope of improving community welfare. This research aims to determine the strengths, weaknesses, opportunities and threats in the Mandalika Region, Central Lombok, West Nusa Tenggara (NTB) Province. In this research, data collection was carried out by distributing questionnaires using purposive sampling using SWOT analysis, which collected 153 respondents. The data analysis technique uses Partial Least Square-Structural Equation Modeling (PLS-SEM). The results of the research show that the strengths and opportunities that exist in Mandalika include smooth roads, beautiful natural beauty, the Mandalika area has become a special economic zone (KEK) with central incentives, there is a large investment in the Mandalika area, and the public widely knows Lombok Island. World. Meanwhile, the weaknesses and threats that exist in Mandalika include: Not many local products are sold at the Moto Event, human resources for the workforce are still relatively limited, there are areas like Kek in Bali and Labuan Bajo as competitors, and they are known to be prone to earthquakes.