G20 Bali Summit brings expected US$533 million to Indonesia’s economy

Luhut Binsar Pandjaitan, coordinating minister of maritime and investment affairs, in a press conference at the G20 Summit Media Center at Nusa Dua Bali, November 12, said Indonesia plays a strategic role in the global arena and is very strategic for investment so that it becomes one of the new world economic powers.

The G20 Summit will have an impact not only on the national economy but also on Bali’s economy in particular. The G20 Summit contribution is estimated to reach US$533 million or around Rp7.4 trillion to Indonesia’s Gross Domestic Product (GDP) in 2022. Most of it will have an impact on Bali’s economy.

Domestic consumption driven by a series of G20 forums is estimated to increase to Rp1.7 trillion, and employ up to 33,000 workers, mainly spread in the transportation sector, accommodation, micro, small, and medium enterprises (MSMEs) and Meetings, Incentives, Conventions, and Exhibitions (MICE) industry.

“Many heads of state have expressed their intention to hold bilateral meetings with President Joko Widodo and he has ordered to immediately arrange bilateral meetings,” said Luhut. He added 17 heads of state, and 12,750 visitors ranging from delegates, business people to non-governmental organizations will attend this important meeting.

The government is aware the G20 Summit will have an impact on Balinese people’s daily activities in the next few days. “I apologize to Bali residents if their activities are affected in the next few days, we need the support of all parties for the successful organization of this event,” said Luhut.

Meanwhile, the local government has issued an appeal to the community to reduce activities outside their house during this summit. However, it does not mean people cannot leave their homes. Activities that can be done at home, such as school activities, should be done online. Employees can continue their Work from Home (WFH).

Photo credit: Lee Kok Leong. Luhut Binsar Pandjaitan at press conference November 12.

Lee Kok Leong

Lee Kok Leong

Kok Leong, executive editor, has overall editorial responsibility for the direction and focus of Maritime Fairtrade. He has two decades of working experiences, including holding senior regional roles in business-to-business (B2B) print and online publications. He enjoys his work as a journalist, and regards it as a calling.

The best maritime news and insights delivered to you.

Here's what you can expect from us:

  • News & key insights covering the maritime industry
  • Expert analysis and opinions on maritime corruption and more
  • Exclusive interviews