Held November 15-16, What Are Indonesia's Benefits Of Hosting The G20?

Illustration. (ANTARA PHOTO/Fikri Yusuf/hp)

The 17th G20 Summit (KTT) will be held in Bali on 15-16 November 2022. This forum will be the culmination of the intensive processes and businesses of the entire G20 workflow (Meetings at the Ministerial, Working Group, and Engagement Groups) for a year holding the mandate of the chairmanship/presidency of the G20. So, what are Indonesia's advantages of hosting the G20?

Minister of Finance (Menkeu) Sri Mulyani Indrawati said that the series of G20 activities under the Indonesian Presidency had a direct impact on Indonesia.

One of the benefits felt is to stimulate the Indonesian economy which contracted due to the COVID-19 pandemic.

Ministry of Finance and BI (Bank Indonesia) yesterday hosted (the G20 meeting). We did it in Jakarta, when it happened in Jakarta yesterday Omicron. So we (had a meeting) here, they (the G20 delegation) will stay at the hotel. That means when Omicron goes up, hotels are empty, Group 20 comes to add occupancy, that's good," said Sri Mulyani, quoted by VOI from the official website of Cabinet Secretary, recently.

Not only increasing hotel occupancy, continued the Minister of Finance, the G20 delegation also shopped, which meant adding economic benefits to the community. In addition, the G20 can also boost the tourism sector in the country.

The Minister of Finance gave an example, various G20 meetings held in Bali contributed to improving the tourism sector which is the mainstay sector in the region.

"We want to restore tourism with the G20. If the minister of finance and the central bank has the number of delegates, it can reach 600 (people). That's direct, not yet journalists and all kinds of things. Because when you look at all the important state finance ministers, journalists from all over the world must also come," said Sri Mulyani.

In addition to the meeting under theherpa track and finance track, the series of G20 meetings were also filled with various side events held in a number of areas, such as Lake Toba, Labuan Bajo, Semarang, Yogyakarta, North Minahasa, Bandung, Makassar, to Manokwari.

"We are making side events. So global companies also come. This is what causes the positive economic impact. What we spend is to become a event, which comes in and is spent by those who come in quite a lot," said Sri Mulyani.

For your information, the G20 Indonesia Presidency period with the theme Recover Together, Recover Stronger lasts for one year, from December 1, 2021 to November 30, 2022.

According to Ani, the Minister of Finance's nickname 'the G20 presidency' is Indonesia's momentum to play a major role in leading the global economic recovery, which is not only shaken by the pandemic but also geopolitical situations such as war in Ukraine.

In addition to having a significant impact on the Indonesian economy, the G20 Presidency also has other benefits for Indonesia.

According to Bank Indonesia, several benefits have been obtained by Indonesia after holding the G20 chairmanship, including:

That is information about Indonesia's benefits of hosting the G20. Hopefully it will be useful!