Live broadcast of football World Cup ‘would increase money circulation in economy’
Nearly 76 billion baht is expected to circulate during the 2022 World Cup, the president of the University of the Thai Chamber of Commerce (UTCC) said on Wednesday.
Thanawat Phonwichai said that 75.815 billion baht would circulate during the World Cup in Qatar beginning this month, slightly lower than the 76.897 billion baht during the 2018 World Cup.
Of the total, 18.561 billion baht will be spent on buying consumer goods, celebrations, electric appliances, or signal receivers, while 57.253 billion baht will be out of the economic system, or gambling, but it will be lower than the previous World Cup due to the current economic situation.
On average, people will spend around 1,416 baht on gambling per match, or 21,580 baht for this tournament.
However, people must follow closely if the National Broadcasting and Telecommunications Commission (NBTC) approves 1.6 billion baht required to purchase broadcasting rights.
If the broadcasting rights are acquired, it would encourage people to spend more by creating a football festival atmosphere because people will buy football kits and eat outside more often at restaurants, entertainment venues, and sport equipment stores, while the media will report the news during the World Cup, which would stimulate the spending.
However, the money in the economic system could decrease by 5 to 10 billion baht if there were no broadcast, he said.
“Live broadcasting will make the atmosphere lively and will cause people to celebrate. It will generate 18.561 billion baht in the economic system.”
He said it would be higher than the 17.901 billion baht generated during the 2018 World Cup.
He forecast that it would stimulate the economy in the fourth quarter to grow by 4 to 4.5%, generating revenue at the end of the year of 35 billion baht, which would help achieve this year’s GDP target of 3% to 3.5%.
Thanawat added that the 1.6 billion baht budget for the broadcast must be approved, as it would help generate revenue back to the government while also making people happy, similar to the welfare card, “Khon La Khrueng” (Let's Go Halves) scheme, or tourism schemes.
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