About 78 billion baht to be spent locally during World Cup 2018

BANGKOK, June 6 (TNA) -- The University of the Thai Chamber of Commerce predicts from its survey that about 78 billion baht will be spent in the country during the World Cup 2018 and about 58 billion baht of the sum will be paid for football gambling. Thanavath Phonvichai, Director of the university’s Economic and Business Forecasting Centre, said the survey showed that 93% of respondents would watch the games live, so their household spending would rise. They would spend on electricity, TV and radio sets, computers, satellite TV, Internet, parties, alcoholic drinks, eating out, and football team souvenirs. About 19.3 billion baht would be injected into national economy, Mr Thanavath said. Of the sum, 15.4 billion baht would be spent on consumer products and parties and 2.46 billion baht on electrical appliances and football program receivers. The centre expects World Cup spending to boost the economy by only 0.2-0.3% as people were carefully spending. Its survey found that gamblers would spend about 58.9 billion baht during World Cup 2018, more than what they had paid during the UEFA Euro 2016, because of considerable channels to football gambling, Mr Thanavath said. The total spending during World Cup 2018 was estimated at 78.38 billion baht, up by 2.4% from the figure during UEFA Euro 2016, he said. (TNA)