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.
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.
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.
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.
Remove All Ads & Unlock All Articles… Sign up for The Bali Sun Premium
Plan Your Bali Holiday:
Book The Best English Speaking Drivers For Airport Transfers & Tours
Choose From Thousands of Bali Hotels, Resorts, and Hostels with Free Cancellation On Most Properties
Book Cheap Flights To Bali
Don’t Forget Travel Insurance That Covers Medical Expenses In Bali
For the latest Bali News & Debate Join our Facebook Community
SUBSCRIBE TO NEW POSTS
Enter your email address to subscribe to The Bali Sun’s latest breaking news, straight to your inbox.
Discover more from The Bali Sun
Subscribe to get the latest posts sent to your email.
korean from daegu
Monday 11th of May 2026
Four Key Challenges to Bali Becoming a Global Financial Hub
1. Absence of a Robust Legal and Institutional Framework A premier global financial center requires a legal system based on Common Law to ensure capital security and predictability. The success of Singapore and Hong Kong is rooted in judicial independence and transparent regulatory environments. Indonesia's current legal framework, characterized by bureaucratic complexities and prevailing corruption indices, faces significant hurdles in achieving the level of trust that global investors accord to New York or London.
2. Deficit in High-End Infrastructure and Specialized Talent A financial hub requires a sophisticated ecosystem beyond physical architecture. Professional Talent: The industry demands a dense concentration of experts in investment banking, hedge funds, and legal and accounting services. Bali’s current labor market is predominantly structured around the tourism and service sectors. Physical Infrastructure: Financial operations necessitate ultra-high-speed telecommunications and uninterrupted power supplies. Bali’s existing infrastructure remains insufficient to meet the rigorous demands of a top-tier global financial center.
3. Conflict Between Tourism Identity and Business Development Bali’s primary assets—its natural environment and cultural heritage—ironically serve as constraints to its development as a financial hub. Establishing a financial center requires large-scale commercial development and extensive transport networks, which inherently risk degrading Bali’s unique landscapes and Hindu cultural sites. Ongoing tension between environmental conservation efforts and development initiatives may impede the implementation of consistent, long-term policies.
4. Geopolitical Risk and Vulnerability to Natural Disasters Capital markets prioritize stability and physical security above all else. Natural Hazards: Located on the "Ring of Fire," Bali is susceptible to seismic and volcanic activity. This environmental risk poses a significant deterrent to centralizing critical data centers and core financial servers in the region. Proximity to Singapore: Given that Singapore already offers a highly optimized and stable system nearby, there is a lack of compelling incentive for capital to migrate to Bali and assume higher operational risks.
Randy
Friday 15th of May 2026
@korean from daegu, well put but birth rates in South Korea, Japan and Singapore are in decline. Therefore highly trained young Indonesians are already working abroad in Japan and South Korea.
#4. Investments made in Indonesia may have been stashed away in Singapore where accounts are in held secrecy and tax amnesty law required by Indonesia for Indonesians have been requested to come clean in the last decades. The results have not been as fruitful but it seems that the tax department is reviving that tax law amnesty once again this year. However many Indonesians with a tax ID number are wary of filing individual tax returns this year because scandals and corruptions have made headlines news in Indonesia lately.
ganivet
Tuesday 12th of May 2026
@korean from daegu, thanks, one of the best comments I ever read in Bali Sun
arthur
Monday 11th of May 2026
and when the land price will skyrocket, people with 200$ of salary will be very happy...
Luckytogo69
Sunday 10th of May 2026
What better way to disctract the world's attention from all the exisiting issues in Bali of mis management and ignorance to a "dream" that will never come true due to Indonesia' total lack of transparency and highest level of private and public corruption.
Steve bmi
Sunday 10th of May 2026
You would have to learn to stand alone rather than always talk partnerships, loans, seek financing and loans from outside for everything
Mac
Sunday 10th of May 2026
Sorry Bali, we talking about money Not trash ! Try to solve the important issues first before you are dreaming. Btw, i wanna be a superstar 😂😂it’s like a kindergarden 😂😂 Bali Sun ???