Cancel World Cup Title, Indef: Indonesia Loses Economic Potential

Armfalcon.com, JAKARTA — The Institute for Development of Economics and Finance (Indef) assesses that Indonesia’s cancellation to host the 2023 U-20 World Cup has created a domino effect which has overshadowed the country’s economy with potential losses. Indef Executive Director Tauhid Ahmad said this incident dealt a serious blow to Indonesia’s image and economic potential.

“We have just lost the momentum to host, we are also concerned. This is basically an opportunity for us to take advantage of the momentum,” said Tauhid in an Indef public discussion entitled “U-20 World Cup: Host Cancels Buyar’s Economic Potential” in Jakarta, Thursday (6 /4/2023).

Tauhid assessed that an event of the caliber of the U-20 World Cup was not just a sporting event. This event, according to Tauhid, provides many benefits for Indonesia, in the form of economic benefits, a positive image, to boost the economy of the people and MSMEs.

“Even though the U-20 World Cup can be a strategic momentum for us to show we are capable of being a good host. This potential is gone, including the economy. The Indef team has conducted a study, what was previously profitable has turned out to be a stump. Hopefully on another occasion, we can be a good host,” said Tauhid.