The G20 2022 Bali Summit
How does Bali grab the opportunities to rise after the pandemic?
The G20 Bali Summit between the heads of states worldwide will be held on 15-16 November 2022. The G20 presidency that Indonesia hosted brought up the theme “Recover Together, Recover Stronger”, as a response to the economic situation after the world went through a pandemic.
Indonesia took up the relay stick to host the event from Italy, and Bali was chosen as the Summit venue. How does Bali prepare itself to be the best host and make this event an opportunity for a re-rise after the pandemic? Let’s take a look.
What Exactly is the G20 Event?
G20 is actually a long-year event between central banks, ministers, and heads of state of developed and emerging economy countries.
It was formed in 1999 and was initially founded to find a solution when the 1997-1999 financial crisis hit the global economy.
At first, the G20 was a meeting between central bank governors and finance ministers, but it eventually evolved to include various developmental issues groups discussion.
The heads of state finally joined the G20 after the 2008 financial crisis and from then on the G20 Summit was born.
The G20 2022 participants represent approximately 60% of the world population, 80% of global GDP, and 75% of international trade.
This event will focus on three main issues that are critical to a strong and sustainable recovery, which are:
- Strengthening of Global Health Architecture
- Digital Transformation
- Energy Transition
Format-wise, the G20 2022 has two pillars of discussion. The first one is the Finance Track which aims to address financial issues and the second one is the Sherpa Track, which will discuss non-financial economic and developmental issues.
Besides the two main groups, there will also be an Engagement Group. They consist of ten community groups from diverse professional circles and discuss a variety of topics.
Each Engagement Group will recommend concrete ideas and targeted policies for G20 Leaders at the Summit.
The G20 2022 series of events are held from the 1st of December 2021 to the 1st of December 2022.
The more than 180 series of activities are spread to more than twenty cities across Indonesia.
Bali itself will host at least 40 of those activities, including the Summit that is scheduled on the 15-16th of November 2022.
This Summit will also represent the peak of the year-long series of events.
Meeting between ministers at G20 2022
Photo from g20.org
Infrastructures and Venues
The Indonesian government has constructed and renovated several infrastructures across Bali, primarily the venue that will host the summit event. As Nusa Dua has been chosen as the final location, several hotels have been designated to accommodate international guests.
These hotels have passed through strict evaluation including facility readiness, supporting facilities, appropriateness, implementation of CHSES certificate (Cleanliness, Health, Safety, Environment, Sustainability), health protocol, and the security of the location.
At least there are 8 hotels at Nusa Dua as places to stay for G20 2022 Summit guests. They are The Laguna Luxury Collection Resort & Spa, Grand Hyatt Bali, The St. Regis Bali Resort, Melia Bali, Merusaka Nusa Dua, The Westin Resort Nusa Dua Bali, Sofitel Bali Nusa Dua Beach Resort, and Nusa Dua Beach Hotel & Spa.
The venue for the summit event itself is arranged at The Apurva Kempinski Bali and Bali Nusa Dua Convention Center (BNDCC).
Venues prepared for the G20 2022 event
Photo from kemenparekraf.go.id
G20 2022 for Bali Economy
Looking back to the previous G20 events in Argentina, Turkey, China, and Japan, this event does have a certain direct impact on the host country's economy.
On average, the international delegates were recorded to reach more than 13 thousand people.
More than 20 thousand delegates are expected to attend the meeting held in various regions of Indonesia.
According to Indonesia’s Ministry of Foreign Affairs, it is also estimated that every G20 Summit generates more than US$100 million (approximately IDR 1.4 trillion) in revenue for the host country.
Bali’s Governor, I Wayan Koster, said in his speech that the G20 2022 Summit will be the turning point for Bali’s economic rise.
The pandemic hit the world economy hard, and it's even more apparent in tourist-dependent Bali.
Currently, Bali is making a steady recovery after more than two years of the pandemic.
With more than 30 countries’ and organizations’ representatives coming, it will bring massive exposure to Bali and the perfect opportunity to send a message to the world that Bali is recovering and open for business.
Economy activities in Bali resurrected after the pandemic
Photo from unsplash.com/belart84
Reaffirm Bali as the Major International Destination
Bali has been widely known for its vast and profound cultural heritage and nature hotspots.
From the UNESCO-certified terraced rice field and the unique irrigation system of Subak to the natural wonders of beaches, mountains, and waterfalls, Bali still has more layers to discover.
Tripadvisor even picked Bali as the number one choice for the 2021 Traveler’s Choice Award.
For the G20 Summit events, Indonesia Tourism minister, Sandiaga Uno said the government has prepared the Spouse Program which will provide tourism guidance for the international delegates and their companions while in Bali.
As a host, Bali can make the most of this opportunity to show more of the lesser-known gems across the island and strengthen the well-known parts.
The G20 2022 will reaffirm and cement Bali as a major international destination.
There are several types of destinations tourists can enjoy in Bali. Bali has everything from the most buzzing and bustling to the serene and tranquil one.
You just have to know where to look.
Beach has been the top-of-mind of Bali for people around the world, and you always have more options to choose from.
From the renowned Kuta and Seminyak to the more virgin ones on the south and northern coast.
Countless surfers worldwide also dubbed Bali as one of the best spots for wave riders. Not to mention the diving spots that you can find on the eastern coast. You can explore our recommended list of beaches in Bali.
Pristine beach in Bali
Photo from pexels.com/alesiakozik
Now, if you want to get deeper into the cultural and spiritual parts of Bali, Ubud will get you covered.
This area has been widely known as the Mecca of yogis. International reputed shalas and yoga communities will mostly crowd in Ubud.
Art is also an inseparable part of the sub-district. Crafters, painters, and dancer will find their home here.
Ubud also housed many sacred and well-known Hindu temples like Goa Gajah, Gunung Kawi, Saraswati, and Pura Gunung Lebah.
These temples are just one of the well-known of the many Pura (Hindu temples) that spread across Bali.
Tranquil Pura by the lake
Photo from unsplash.com/kharlantonipaica
Kuta, Seminyak, and Canggu will welcome the global digital nomads and people who fancy some shopping, and dining.
These places are the hub for nightlife and networking alike. It’s simply a world village with all the amenities especially targeted for the ex-pats.
You can do your remote work at co-working spaces in the morning and smash the dance floor at the beach clubs beyond the middle of the night.
International music festivals and artists have frequently graced the areas and boosted Bali as a world-class nightlife destination.
There are still countless other destinations that are worth exploring across the island.
The G20 2022 event will be the opportunity for Bali to showcase its rich and various destination options that are available for every kind of tourist.
It is even more so for the less-aware international investors and economic actors to realize Bali's potential for future development.
Disclaimer: The content of this publication is provided as general information only and does not constitute legal, financial, tax, or other professional advice from Bali Home Immo. Some of the information provided on this publication is obtained from a third-party source, and we do not guarantee that the content of this publication is accurate, complete or up-to-date. Past performance is not indicative of future performance and should not be relied upon as a basis for an investment decision.
