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This paper addresses issues about how gamification can provide a breakthrough marketing strategy for Garuda Indonesia Loyalty Program. Garuda Indonesia is a well-known national airline in Indonesia. However, the survey found that the Garuda Indonesia loyalty program and does not attractive enough for consumers. Garuda Indonesia should maintain its loyalty program to attract more consumers. Moreover, the frequent flyer program is one way to differentiate the products offered by an airline from other competitors. Answering that phenomenon, Garuda Indonesia launched a mobile application that has several offers for consumers. However, Consumers still tend to choose other mobile applications. Garuda Indonesia’s marketer should encourage consumers to use the mobile application with the loyalty program inside the mobile application. The study suggests that Garuda Indonesia can add the gamification concept to the Garuda Indonesia Mobile application to increase loyalty to GarudaMiles users.

 This paper utilizes the Least Squares Dummy Variables (LSDV) technique in investigating the effect of financial depth on economic growth within a sample of middle-income countries, over the period 2005–2017. The research finds that financial depth has a negative impact on real GDP growth within middle-income countries. This result is robust to the use of alternative measures of financial depth, the use of per capita GDP growth as a proxy for economic growth, the inclusion of dummy variables to control for the 2007–2010 global financial crisis, the exclusion of countries with high average growth as well as across income levels. Based on its findings, this study recommends the need for robust regulations to ensure that the credit facilities of domestic financial institutions are channeled towards productive investments rather than debt servicing.