Title: Indonesian vs Argentina Match Generates IDR Trillion Cash Circulation
Subtitle: Economic Impact and Opportunities for Indonesia’s Football Industry
Date: June 20, 2023
Indonesia’s recent FIFA Matchday match against Argentina has not only attracted the attention of football fans but has also generated a significant economic impact. According to the Economic and Social Research Institute (LPEM) of the Faculty of Business Economics at the University of Indonesia, the match has the potential to create a cash circulation of IDR 965 billion.
The research conducted by LPEM UI indicates that if the match is carried out safely and smoothly, it can contribute to the Indonesian economy by creating additional velocity of money. This economic output is estimated to be around IDR 965 billion. Additionally, the circulation of money from the match is expected to generate an economic added value of IDR 495 billion.
The economic impact of the match goes beyond the circulation of money. It is projected to provide additional household income for workers amounting to IDR 188 billion. Furthermore, the government is expected to receive indirect tax revenue of IDR 28 billion. The match also presents an opportunity for job creation, with approximately 5,719 job opportunities being created, albeit mostly temporary.
The sectors that received the highest impact from the match were the provision of food and drink, arts, entertainment and recreation services, as well as broadcasting and programming services. The research suggests that from an economic perspective, the positive impact of the FIFA matchday can exceed the costs incurred to bring in the Argentine national team.
Moreover, the Indonesia vs Argentina match has opened up opportunities for Indonesia to improve its image and maintain public enthusiasm. It is also expected to create economic benefits that will support the development of the domestic football industry.
It is worth noting that hosting a match against Argentina is not a cheap endeavor. The match fee to invite Argentina is estimated at five million US dollars or around Rp. 72.3 billion, as reported by the New York Times.
Overall, the Indonesian vs Argentina match has not only provided an exciting sporting event but has also contributed significantly to the Indonesian economy. The research conducted by LPEM UI highlights the potential economic impact and opportunities that such matches can bring to the country, particularly in terms of cash circulation, job creation, and the development of the football industry.
8 sectors of tourism industry
N economy by boosting various sectors such as tourism, hospitality, transportation, and retail. The influx of football fans, both domestic and international, during the match period leads to increased spending on accommodation, food and beverages, transportation services, and merchandise.
The economic impact of the match extends beyond the revenue generated from ticket sales and broadcasting rights. The heightened interest in football drives tourism, with visitors coming to Indonesia to not only watch the game but also explore the country’s cultural and natural attractions. This influx of tourists stimulates the local economy by creating job opportunities in the tourism industry and increasing revenue for businesses.
The match also presents opportunities for Indonesia’s football industry to grow. Hosting high-profile matches like this improves the country’s reputation as a sporting destination and raises the profile of Indonesian football globally. This increased exposure can attract investment in infrastructure development, training facilities, and youth development programs, ultimately improving the overall quality of football in the country.
Furthermore, the successful organization of such a significant event showcases Indonesia’s capacity to host large-scale international tournaments, laying the foundation for future opportunities, such as hosting other FIFA events or international sporting competitions. These events have the potential to bring in substantial economic benefits through increased tourism, investments, and job creation.
In conclusion, the Indonesian vs Argentina match has proven to be not just a sporting event but also an economic opportunity for the country. With the potential to generate a cash circulation of IDR 965 billion, the match has positively impacted sectors such as tourism, hospitality, transportation, and retail. In addition, it has provided opportunities for the growth and development of Indonesia’s football industry, attracting investment and improving the country’s sporting reputation. As Indonesia continues to host and organize such events, the potential for economic growth and opportunities in the future remains promising.
This article highlights the potential economic impact and money circulation that the FIFA matchday between Indonesia and Argentina can bring. Exciting matches like this have the power to boost local businesses, tourism, and create a positive ripple effect on the economy.