The Impact of FIFA Matchday on the Indonesian Economy: The Food Sector Sees the Biggest Profits

Economics & Macro

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Adi Ahdiat 21/06/2023 11:50 WIB

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According to the LPEM FEB UI research team, the economic impact of FIFA Matchday is generally most significant for the food and beverage sector.

10 Economic Sectors Most Impacted by the Indonesia vs. Argentina FIFA Matchday (June 2023)*

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10 Economic Sectors Most Impacted by the Indonesia vs. Argentina FIFA Matchday (June 2023)*

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The FIFA Matchday between Indonesia and Argentina concluded on Monday, June 19, 2023. Indonesia's national football team lost to the 2022 World Cup champions, Argentina, with a score of 0-2.

Nevertheless, Indonesia shouldn't be disheartened, as the match yielded positive economic impacts across various domestic sectors.

According to a research team from the Institute for Economic and Community Research, Faculty of Economics and Business, University of Indonesia (LPEM FEB UI), the FIFA Matchday between Indonesia and Argentina potentially generated an additional economic output of approximately Rp965 billion (approximately USD 63 million) domestically.

They also calculated that this economic output potentially created:

* Added value to the Gross Domestic Product (GDP) of Rp495 billion (approximately USD 32 million);
* Additional household income for workers of Rp188 billion (approximately USD 12 million);
* Potential indirect tax revenue for the government of Rp28 billion (approximately USD 1.8 million); and
* Potential job creation for approximately 5,719 people (although mostly temporary).

According to the LPEM FEB UI research team, the economic impact of the FIFA Matchday was largely felt by the food and beverage sector, with an output value of Rp249.7 billion (approximately USD 16 million).

This figure includes estimated sales of food and beverages for spectators of the Indonesia vs. Argentina match, whether watching live at the stadium, on television, or during "nonton bareng" (group viewing) at restaurants or cafes.

The FIFA Matchday is also estimated to have had an economic impact on the arts, entertainment, and recreation services sector; broadcasting services; trade (excluding cars and motorcycles); and others, as shown in the graph.

"From an economic perspective, the potential positive impact of the FIFA Matchday could exceed the costs incurred in bringing the Argentinian national team," stated the LPEM FEB UI research team in their report, *Simulation of the Potential Economic Impact of the FIFA Matchday Indonesia vs. Argentina*.

"However, hosting the FIFA Matchday against Argentina was not cheap. The match fee to invite Argentina is estimated to reach USD 5 million, as reported by the New York Times," they added.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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The Impact of FIFA Matchday on the Indonesian Economy: The Food Sector Sees the Biggest Profits

The Impact of FIFA Matchday on the Indonesian Economy: The Food Sector Sees the Biggest Profits

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The Impact of FIFA Matchday on the Indonesian Economy: The Food Sector Sees the Biggest Profits

The Impact of FIFA Matchday on the Indonesian Economy: The Food Sector Sees the Biggest Profits

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