Bali Declares Ambitions To Become Global Financial Center

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Leaders in Bali have announced ambitious plans to establish the province as a world-leading financial center.

The world’s biggest economic hubs include New York, London, Singapore, and Hong Kong, but the team behind the new Kura Kura Special Economic Zone in Bali is seeking to take the province to new heights on the global stage.

For nearly 100 years, Bali has been one of the world’s most famous travel destinations. As the island looks towards its next 100 years, leaders are setting their sights on major shifts both politically and economically.

During a site visit to the new Kura Kura Special Economic Zone, in Serangan, close to Sanur and Denpasar City, Indonesia’s Minister for Economic Affairs Airlangga Hartarto set out his vision for the future of the landscape. 

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Both the Central and Provincial Governments are clear that development at the Kura Kura Special Economic Zone, along with new developments in the Sanur Special Economic Zone, will help establish Bali Province as a world-leading financial centre. In 2025, Indonesia sits stable as the 7th biggest economy in the world, by purchasing power, outdoing most European nations and Brazil. By measuring GDP, Indonesia is in 16th place.

By 2050, Indonesia is set to become the 4th-largest economy in the world, alongside China, India, and the US. With 2050 only 25 years away, Indonesia is keen to lay the groundwork for that major economic shift now, and while it will take a nationwide effort, Bali, as the country’s flagship destination, has an increasingly important role to play. 

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During the visit to the new Kura Kura Special Economic Zone, Minister Hartarto was accompanied by Minister of Investment and Downstream Development/Head of the Investment Coordinating Board (BKPM) Rosan Roeslani, and Danantara Chief Operating Officer Dony Oskaria. The team’s visit was part of the government’s efforts to ensure accelerated regional development while encouraging investment, particularly in the tourism and healthcare sectors.

Eventually, the Kura Kura Special Economic Zone will integrate seamlessly with the new developments in the Sanur Special Economic Zone, including the medical and wellness facilities that sit alongside lifestyles and tourism infrastructure.

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The official visit also aimed to assess the area’s readiness for the development of an International Financial Center (IFC) as part of a wider strategic plan to strengthen national economic competitiveness. The initial vision for the Kura Kura Special Economic Zone is for the area to become an ecosystem for business innovation, education, and the environment.

The team visited Sira Village – Grand Outlet Bali, which is one of the flagship projects of the Kura Kura Bali Special Economic Zone, and is a collaboration between PT Bali Turtle Island Development (BTID) and Mitsubishi Estate. The Grand Outlet Bali project has reached 92% completion and is targeted for a soft opening in mid-2026.

This outlet is being developed as the first open-air luxury retail centre in Bali. Speaking to reporters, the government officials cited the presence of global investors such as Mitsubishi Estate as reflecting confidence in the long-term potential of the Kura Kura Bali Special Economic Zone as a leading investment destination in Indonesia. 

The Kura Kura Special Economic Zone is progressing quickly and receiving huge amounts of investment. By the end of April 2026, the project had received a total investment of IDR 1.62 trillion and created a workforce reaching 2,146 people.

For context, the far more established Sanur Special Economic Zone recorded a cumulative investment of IDR 5.37 trillion by the end of April 2026, employing 5,444 staff, and recording 279,804 tourist visits.

It is not only finance, business, and education that the Kura Kura Special Economic Zone is dedicated to developing, but leisure, lifestyle, and sport too. At the end of April, the area hosted the Serangan Board Riders Challenge, a surf competition which saw more than 150 young surfers come together to compete on the waves of Bali’s southern coast.