BANGKOK, 28 April 2014 – According to a recent finding by the University of the Thai Chamber of Commerce (UTCC), Thai soccer fans are willing to shell out around 60 billion baht on World Cup merchandise each time the season begins, effectively breathing life into local vendors at the time of sluggish economy threatened by months of political conflict.
The finding suggested that each World Cup stimulates spending of around 50-60 billion baht, depending on economic conditions at the time.
Business revenue is usually spurred by public spending on commodities and recreational items related to the football matches, television sets, as well as other products and services offered in the promotional campaigns.
Despite the ailing economy triggered by prolonged political turmoil, public spending during the World Cup is likely to remain the same, according to Director of the UTCC Center for Economic and Business Forecasting Thanawat Polwichai. He said that for football fans, the event is special as it happens only once every 4 years, and that the business should be even more lively given this year’s better global economic climate.
