Bt64 bn circulation expected during Euro 2012

The upcoming UEFA European Football Championship ‘UEFA Euro 2012’ is projected to result in Bt64 billion in circulation in Thailand, according to a survey by University of the Thai Chamber of Commerce (UTCC).

The UTCC Economic and Business Forecasting Centre surveyed 1,196 respondents on the spending behaviour and the impact of the 14th Euro 2012 football tournament on Thailand’s economy and its society, the centre’s director Thanawat Ponwichai reported on Tuesday.

Dr Thanawat announced that spending during the Euro 2012 from on June 8 - July 1 was expected to be some Bt64 billion, up 8.1 percent from the spending during the FIFA World Cup 2010.

Despite the projected rise in money circulated during the high-profile sports event, spending is unlikely to be robust and lively and will only be able to slightly boost the overall economy, the academic said. He explained that the country’s economy was not fully recovered owing to the higher prices of consumer goods.

However, the Thai economy this year is forecast to expand by 5.9 percent, Dr Thanawat said. The country’s economic expansion in the next four years would likely to grow between 5-6 percent based on several key factors, particularly the domestic political atmosphere.

The survey found that some Bt41.7 billion was expected to be spent on football gambling activities, a 63.6 percent increase compared to the World Cup 2010, while around Bt19.6 billion and Bt2.2 billion would be used for purchasing consumer products and electrical appliances respectively.

Meanwhile, approximately Bt1.2 billion would be spent on other Euro 2012-related activities.

In terms of the economic and social impact, survey respondents viewed that the Euro 2012 would lead to gambling most, followed by gambling-related debts, crimes and gambling debt collection.

Co-hosted by Ukraine and Poland, the tournament will promote sport and exercise among Thai youth, strengthen family relationships and stimulate the economy during that period.

Apart from gambling, most respondents were concerned about the reduced efficiency in work and study and accidents related to overconsumption of alcohol during the Euro 2012 football tournament. (MCOT)
 

Suu Kyi wants more investment in Myanmar to create jobs

Myanmar opposition leader Aung San Suu Kyi called for more investment in her country to simply help create jobs as much as possible for ordinary people, which she said should not aggravate the problems of corruption and inequality in Myanmar.

Speaking at the World Economic Forum in Bangkok on Friday morning, the democracy icon reemphasized her determination to eradicate corruption and inequality in Myanmar while the country moves forward opening for more investment.

“We do not want more investment to mean more possibility for corruption. We do not want more investment to mean greater inequality and greater privileges for the already privileged,” she said.

Ms Suu Kyi reiterated the need to improve the quality of living of ordinary people, saying she wanted more investment to mean simply jobs - as many jobs as possible.

“There is a great need for basic skills,” she said. “We need vocational training much more than higher education,” she said.

The Myanmar opposition leader added that the international community should consider the country’s needs “in a very practical way.”

Her Friday speech is her first public address in an international forum in almost two decades.

She also later attended the session “Asian Women as the Way Forward” dealing with how the political and economic empowerment of women can contribute to the long-term growth of East Asian economies. (MCOT)
 

Bt64 bn circulation expected during Euro 2012

Suu Kyi wants more investment in Myanmar to create jobs