Asheville’s historic Omni Grove Park Inn recently became the epicenter of global financial discussions, drawing a host of international finance leaders, journalists, and executives to the scenic North Carolina city. The bustling G20 Finance Track meetings concluded on Tuesday, bringing both economic benefits and a spotlight to the region.
During the multi-day event, participants focused on critical global economic issues, such as inflation and the burgeoning field of artificial intelligence. The summit also highlighted the United States’ ongoing conflict with Iran.
According to preliminary assessments by the Buncombe County Tourism Development Authority, Asheville experienced an estimated $2 million in direct spending linked to the event. This influx of attention also stirred local sentiments, particularly regarding the region’s ongoing recovery from Hurricane Helene, prompting some residents to protest for increased federal aid.
U.S. Secretary of the Treasury Scott Bessent, who has roots in the nearby Jackson County, expressed pride in Asheville, dubbing it a “comeback city.” He remarked, “I believe America knows about Asheville, but now I think… in the past few days, the world has discovered Asheville.” Bessent suggested that the G20 events could ultimately generate a $20 million economic impact for the area, although this figure remains unverified by local sources.
Access to the G20 meetings was notably restricted for the media, with reports indicating that journalists from major publications like The New York Times and Bloomberg News were denied credentials, according to a Washington Post report. Similarly, local outlets such as Asheville Watchdog and Mountain Xpress reported exclusion from the event, as noted by Asheville Watchdog.
Media personnel attending the event faced limitations on their movement, primarily restricted to a designated off-site media center apart from certain public events like a media reception and a press briefing. A lunch with Sen. Ted Budd, initially open to the press, was later closed by G20 organizers.
While some reporters could preview the “plenaries” or formal G20 member sessions, only those in the official press pool were granted access. At the concluding press briefing, Secretary Bessent recapped discussions on topics including inflation, deregulation, and trade issues with China.
Addressing the United States’ position in the AI industry, Bessent expressed confidence, stating, “The US will be an AI superpower,” with expectations that the country will dominate 80% of global AI computing capacity by 2028. He acknowledged criticism of data centers but emphasized the transformative potential of AI.
Local governments, including Asheville’s, have expressed concerns about data centers, enforcing temporary halts due to worries about water use, power needs, and noise levels. The G20 meetings in Asheville mark part of a series of U.S.-hosted events, culminating in the G20 Leaders’ Summit in Miami this December.
