Bali’s leadership has announced ambitious plans to transform the province into one of the world’s leading financial hubs.
While New York, London, Singapore, and Hong Kong remain the top global financial centers, the team developing the Kura Kura Special Economic Zone aims to elevate Bali to an entirely new level on the international stage.
For nearly a century, Bali has been known primarily as a paradise for tourists. Now, as the island looks toward its next 100 years, the provincial and central governments of Indonesia are driving a profound economic transformation.
During a site visit to the new Kura Kura Special Economic Zone in Serangan (near Sanur and Denpasar), Indonesia’s Coordinating Minister for Economic Affairs Airlangga Hartarto clearly outlined the vision for the island’s future.
According to the minister, the development of the Kura Kura SEZ together with the ongoing project in Sanur will position Bali Province as a world-leading financial center.
In 2025, Indonesia ranks 7th globally by GDP (PPP), surpassing most European countries and Brazil. In nominal GDP terms, the country stands at 16th place. By 2050, Indonesia is projected to become the 4th-largest economy in the world, alongside China, India, and the United States. With only 25 years remaining, Indonesia is laying the groundwork now — and Bali, as the country’s flagship destination, is set to play a key role in this economic leap.
Minister Hartarto was accompanied on the visit by Investment Minister and Head of BKPM Rosan Roeslani and Danantara Chief Operating Officer Dony Oskaria. The visit was part of the government’s push to accelerate regional development and attract investment, particularly in tourism and healthcare.
In the future, Kura Kura and Sanur will form a single integrated ecosystem, where a financial center will coexist with world-class medical and wellness facilities, modern tourism, and high-quality infrastructure.
Special attention was given to the area’s readiness to host an International Financial Center (IFC). The vision for Kura Kura goes beyond business and finance — it includes education, innovation, and a comfortable living environment.
One of the flagship projects in the zone is Grand Outlet Bali — a collaboration between PT Bali Turtle Island Development (BTID) and Japan’s Mitsubishi Estate. Construction is already 92% complete, with a soft opening scheduled for mid-2026. This will be Bali’s first open-air luxury outlet center.
The government views the participation of such a major global player as Mitsubishi Estate as strong evidence of investor confidence in the long-term potential of the Kura Kura Special Economic Zone.
By the end of April 2026, the Kura Kura project had already attracted IDR 1.62 trillion in investment and created 2,146 jobs.
For comparison, the more mature Sanur Special Economic Zone has accumulated IDR 5.37 trillion in investments, employs 5,444 people, and has welcomed 279,804 medical tourists.
Importantly, Kura Kura is not developing as a purely business and education cluster. At the end of April, the area hosted the Serangan Board Riders Challenge surf competition, bringing together more than 150 young surfers. This event once again highlighted that the new economic zone successfully balances serious business development with the island’s relaxed lifestyle and leisure appeal.
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