And the teenage revellers, known as "schoolies", have become more and more wild in recent years, with reports of their shocking antics often made public.
Videos and photos taken in the clubbing hotspot show smashed students wearing next to nothing partying until the early hours.
But as well as the cheap drinks and limitless drugs, the teens are looking for one more thing – sex.
Youngsters have been filmed and photographed performing sex acts on each other, with many appearing on a Facebook page dedicated to embarrassing schoolie pictures.
YouTube videos posted of the Aussie students show tanned teens kissing each other and causing mayhem on the streets.
And on Twitter, visitors to both Bali and Australia's Gold Coast – where other Schoolies celebrations take place – are guaranteed sex because of "easy" Aussie girls.
Numerous holidaymakers have been given hefty sentences out there after being caught with illicit drugs.
Just yesterday, Perth lad Jamie Murphy was arrested at a nightclub after he was found to have a 1.5g bag of white powder in his pocket.
The 18-year-old was facing at least 12 years in prison until tests today revealed the powder was a mix of caffeine and other legal substances.
Harsh drug sentences in Bali can mean someone caught with just a small amount of marijuana faces years in jail.
