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The G20 Summit Has a Positive Impact on the Indonesian Economy

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By: Savira Ayu)*

Indonesia as the presidency of the G20 Summit has many advantages, including in the economic field. By organizing this international forum, it will increase domestic consumption and promote tourism in this country, thereby increasing the country’s foreign exchange.

During the pandemic, we were like the ‘collapse durian’ because we were appointed as the G20 presidency in 2022, after being held by Italy the previous year. How come? The government is struggling to overcome the impact of Corona in the economic field, then hosted the G20 Summit which is clearly profitable in the economic field. The trust of the G20 forum in Indonesia can really prosper.

There are several positive impacts of the G20 Summit on the Indonesian economy. First, there will be an increase in gross domestic product alias GDP of up to 533 million dollars. This was stated by the Minister of Finance Sri Mulyani. Gross domestic product is the amount of goods and services produced by a country in a certain period of time.

The second positive impact of the G20 Summit in Indonesia is the absorption of workers, even up to 33,000 people. They are placed in various sectors that will support the smooth running of the Summit. Absorption of labor is very good because it can reduce the number of unemployed in Indonesia. Especially during the pandemic, many people lost their jobs due to their companies losing money.

While the third positive impact is cooperation with Micro, Small and Medium Enterprises (MSMEs). So far, small and medium-sized entrepreneurs have stagnated their business due to the effects of the global pandemic. However, when there is a G20 Summit, they are partnered with the government, so that their business can run again. Later, souvenirs and other supporting items for the Summit can be produced by MSMEs.

MSMEs must be saved by the government because 90% of businesses in this country are at the small and medium level. If MSMEs are safe, the country’s economy is also safe. So, the G20 Summit is a good moment to make small and medium-sized entrepreneurs healthy and at the same time re-roll the wheels of the country’s economy.

Furthermore, the G20 Summit could further boost the tourism sector. The G20 series was deliberately held in many places, from Jakarta, Bali, to West Papua. The government deliberately made different venues because they wanted to present the unique natural beauty of each region.

The participants of the G20 and W20 summits will see how unique metropolitan Jakarta is, the cultural richness of the Island of the Gods, and the exotic nature of the Earth of Paradise. Each has its own peculiarities. Later the G20 participants will travel after the event is over or after the pandemic is over, because they see with their own eyes how beautiful Indonesia is.

The tourism sector can really be sold at the G20 Summit because the participants will automatically update the status on their respective social media accounts and show Indonesia’s natural beauty. Indirectly, they promote tourism in this country to their followers who are actually citizens of their own country. Later the foreigner also wants to vacation in Indonesia because he knows that here it is safe and comfortable for tourists.

Meanwhile, the benefit of the last G20 Summit is that it can increase investment. The summit participants came from rich countries such as the Kingdom of Saudi Arabia. Later the king will be pleased to add investment in Indonesia because he believes that our country has good potential, with a wealth of natural resources and human resources.

The G20 Summit is not only a forum for meetings of representatives of 20 member countries, but also has many benefits for Indonesia. By becoming the host, the government’s income will increase, the MSME sector is also saved because it is partnered with. In addition, the tourism and investment sectors can also be sold in order to increase the country’s foreign exchange.

)* The author is a contributor to the Press Circle and Cikini Students

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