The G20 is a group of 19 countries and the European Union that meet annually to discuss global economic issues. The host country for the summit is responsible for the event’s cost, including expenses such as security, infrastructure, and hospitality. Continue reading to learn more about the topic.
Amount Spent By Countries For G20 Summit
From Indonesia to Canada, check out the nine countries that have hosted the G20 summit and the amount they have spent for this global event.
1. Indonesia (2022): Rs 364 crore
The summit was held in Bali. Allegedly, the budget for the summit was 674 million Indonesian Rupiah. The amount was more than 364 crore.
2. Japan (2019): $1.2 billion
The 2019 G20 summit was held in Osaka, Japan. The country spent $320 or Rs. 2,660 crore to welcome the guests.
3. Argentina (2018): $130 million
The 2018 G20 summit was held in Buenos Aires, Indonesia. It cost around $112 million. The amount was about 931 crore.
4. Germany (2017): €72.2 million
Allegedly, Germany spent about Rs. 642 crore. They hosted the meeting in Hamburg.
5. China (2016): $6.6 billion
Hangzhou, China, hosted the G20 meeting in 2016. The event cost them a striking $24 billion, or more than Rs. 1.9 lakh crore.
6. Australia (2014): $500 million
The fact sheet from the University of Toronto stated that the summit cost them a whopping $500 million. This amounted to more than Rs. 2,653 crore.
7. Russia (2013): $50 million
The 2013 G20 Saint Petersburg Summit cost roughly RUB 2 Billion. The amount was around a whopping Rs. 170 crore.
8. France (2011): Rs 712 crore
The 2011 G20 Summit held in Cannes cost over EUR 80 Million. The amount was roughly Rs 712 crore.
9. Canada (2010): Rs. 4,351 crores
Canada spent CAD 715 million, approximately Rs 4,351 crore. This took place in Toronto.
India’s Budget For The Event
India spent around Rs 4,100 crore at the G20 summit in 2023, according to Union Minister Meenakshi Lekhi. The government has spent Rs 2,700 crore to construct and beautify the venue, Bharat Mandapam, while Rs 4,604 crore has been allocated for security arrangements.
Prime Minister Narendra Modi delivered his inaugural speech at the Bharat Mandapam on Saturday. He said. “It was in the spirit of ‘sabka sath’ that India proposed permanent membership for the African Union in the G20. I believe that we all agree on this proposal.” Further, he welcomed the Chairperson of the African Union, Azali Assoumani, to join the G20 leaders.
The cost of hosting the G20 summit varies widely depending on the host country and the specific needs of the event. China spent the most on the summit in 2016, with a budget of $6.6 billion. This was mainly due to the construction of a new convention center and other infrastructure projects. In contrast, Russia spent only $50 million on the summit in 2013.
The G20 summit is an essential event for the host country, as it provides an opportunity to showcase its economy and culture on the global stage. However, the cost of hosting the event can be a significant burden, particularly for developing countries. As the G20 continues to grow in importance, it will be interesting to see how host countries balance the benefits of hosting the summit with the cost of organizing it.