World Cup could boost economy
PHUSADEE ATUMAS and
BAMRUNG AMNATCHAROENRIT
Even though its national team is not featuring in the competition, Thailand looks set to cash in on the World Cup. Here the trophy is shown off at the exclusive Siam Paragon shopping complex. — SURAPOL PROMSAKA NA SAKOLNAKORN |
The 2006 World Cup tournament is expected to boost Thailand's growth by 0.1 percent, according to a survey by the University of the Thai Chamber of Commerce.
As much as 30-35 billion baht in cash is expected to be circulated during the 31-day tournament, which began on June 9. Of that amount, more than 55 percent, or about 19.5 billion baht, will be in the form of illegal gambling, and 15 billion baht from legal activities.
According to Thanavath Phonvichai, the director of the Centre for Economics and Business Forecasting at the university, businesses involved in food and beverages, advertising, and television will benefit most from football fever.
The survey, which was conducted from June 1-3, involved 2,418 respondents in major provinces nationwide.
Around five billion baht is expected to be spent on food and drinks and four billion on advertising. Another 1.5 billion baht will likely be used to buy new TV sets and satellite dishes, and pay for mobile phone calls and postcards to join football-related prize draws.
Sauwanee Thairungroj, the dean of economics at the university, said the survey found that salaries and savings would be the main sources of this spending.
It also found that betting would flourish among young people and suggested the government beef up measures to prevent it, as some bookies might be politicians seeking easy money for vote-buying in the upcoming elections.
According to a source at Samart Corporation, Plc, a producer and distributor of satellite dishes, orders for the installation of satellite dishes at Samart DTH had risen 30 percent after its launch two months ago, as football fans were seeking a clear signal to watch the games and other programmes.
Samart DTH offers various local channels, including free channels and eight channels of the Public Relations Department.
However, he said the broadcasts would be in Thai, the same as on free TV. DhosPaak, the rights holder to the broadcasts in Thailand and a subsidiary of Chang beer producer Thai Beverage, Plc, will broadcast the games through free TV in Thai, while the English version will be available at some designated venues, such as selected hotels.
cash…circulated
money passed from buyer to seller
respondents
people who answer survey questions
flourish
quickly expand
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beef up
make stronger
measures
methods
bookies
bookmakers; people who take bets
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vote-buying
an illegal practice in which politicians pay money for votes
designated venues
places chosen to hold an event.
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