Saudi Arabia announced it will host the G20 summit in November next year in the capital Riyadh. The first G20 meeting in the Arab world will be held in November 2020, according to the final communique of the G20 summit last year in Buenos Aires, Argentina, which confirmed that the summit will be held in Japan in 2019, and in Saudi Arabia in 2020. G20 world leaders met for the first time in 2008 with focus on rescuing the global economy from the worst financial crisis in more than 70 years.
The G20 (or Group of Twenty) is an international forum for the governments and central bank governors from 19 countries and the European Union. Founded in 1999 with the aim to discuss policy pertaining to the promotion of international financial stability, the G20 has expanded its agenda since 2008 and heads of government or heads of state, as well as finance ministers and foreign ministers, have periodically conferred at summits ever since.
The 2017 chair was Germany, which hosted the 2017 Summit in Hamburg. The 2019 chair will be Japan, which will host the 2019 G20 Osaka summit.
There are 20 members of the group: Argentina, Australia, Brazil, Canada, China, the European Union, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, and the United States. Spain is a permanent guest invitee