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Sandiaga Uno predicts losses from canceling U-20 World Cup may hit Rp3.7tn

Tempo - April 1, 2023

Amelia Rahima Sari, Jakarta – Indonesian Tourism and Creative Economy Minister Sandiaga Uno estimated that the state may suffer losses reaching Rp3.7 trillion from the cancellation of the U-20 World Cup in Bali.

"The impact [loss] reached Rp3.7 trillion. That's the minimum, and this is a very big loss," said Sandiaga in a written statement on Friday, March 31, 2023.

This value, Sandiaga detailed, refers to financings, such as the renovation of the entire stadium which will be used as the venue costing more than Rp500 billion, the projected arrival of foreign tourists which was predicted to reach more than 50,000 people, and the projected revenue from the tournament which was expected to be attended by 2 million people in each match.

Hotels and inns whose rooms had been sold out throughout the event also suffered losses. "Hotels located around the venue were all booked," Sandiaga added.

The minister said that he would try to find a way to minimize the losses. "We will try to find possibilities of replacement events. We are trying to discuss this with our team," Sandiaga explained.

Apart from financial losses, Sandi claimed that he is actually worried about Indonesia's reputation. Sandiaga hoped that Indonesia's good reputation for successfully holding a number of world-class events, starting from G20, Asean Tourism Forum, MotoGP, to F1 Powerboat will not change in the eyes of the world.

"In my opinion, what we are most worried about is our medium and long-term reputation, that's all we have to protect. Don't let our reputation, which is so difficult for us to build, be affected," Sandiaga said.

Sandiaga Uno also expressed his disappointment over the cancellation of the U-20 World Cup in Indonesia. "I am very disappointed. I am very saddened by the cancellation [of the U-20 World Cup], but we have to stand up straight and we have to be strong. We have to show spirit, keep moving on, to be able to hold events that can support us so that the losses are not massive," Sandiaga said.

Source: https://en.tempo.co/read/1709548/sandiaga-uno-predicts-losses-from-canceling-u-20-world-cup-may-hit-rp3-7t