According to the National Development Planning Agency (Bappenas), the 18th Asiad had a positive economic and social impact on the host country. Mass transportation networks and new sports arenas were developed and small and medium enterprises saw a boost in business.

International Olympic Committee (IOC) president Thomas Bach complimented Indonesia for pulling out its best effort and saw that it had the potential to host other large sporting events, such as the Olympics. Later, Indonesia officially announced it intended to place a bid to host the 2032 Olympics.

The 2018 Asian Games set a new record in Asiad history by welcoming 11,478 athletes from 45 countries — a number that surpassed the 2016 Rio Olympics’ 11,238 athletes, according to the study.

For cohosts Jakarta and South Sumatran capital Palembang, the Games provided a boost to economic growth in the August-September period.

South Sumatra’s economic growth reached a peak of 6.1 percent in the third quarter of 2018 when the Games took place, its highest number on record and much higher than the 5.27 percent growth the national economy recorded in the same period.

The region’s growth usually only hovers at around 5.6 percent,” Bappenas expert staff member on economic and financing synergy Amalia Adininggar Widyasanti said at a discussion on the study in Jakarta recently.  

Investment in infrastructure, including venues and the LRT, played a big role in boosting Palembang’s economic growth, Amalia said. Growth of the construction sector in South Sumatra hovered between 9.6 and 11 percent in the three quarters prior to March 2018.

The food and beverage sector saw a significant boost in the year that led to the third quarter of 2018, growing to 16 percent. Meanwhile, trade sector growth peaked at 8.25 percent in the July-September period of 2018.

One beneficiary of the growth was small enterprise Du’Anyam, which sells woven products crafted by women from East Nusa Tenggara. The enterprise experienced a 67 percent increase in customers after securing an official Asiad partner deal.

Palembang-based fish cake shop Pempek Honey and woven cloth producer Fikri Koleksi also saw gains thanks to Asiad, according to the Bappenas study.

In Jakarta, economic growth reached a year-high of 6.41 percent in the third quarter of 2018, with investment growth reaching a peak of 8.61 percent in the third quarter of 2017, when preparations for the sporting event were under way.

Erick Thohir, chief of the Indonesian Asian Games Organizing Committee (INASGOC), said hosting the Olympics would provide greater economic opportunities for the country.

“The 2032 Olympics will provide way more opportunities than the Asian Games as, in 2030, Indonesia is predicted to be one of the top 10 biggest economies in the world,” he said.

“If we want to achieve that, we need to have certainty that covers an image of Indonesia as a stable country with determination in creating innovation.”

The businessman went on to say that the IOC required that potential host cities obtain approval from its residents in order to host the Olympics.

However, not all went smoothly, as Erick recalled that the government had shown poor support in preparing its athletes for the Asiad. In the lead up to the Games, sports federations faced a hard time organizing national camps as financial support was disbursed only less than a year before the Games.

“Most of the funds were even distributed seven months before the Games kicked off,” he said.

Beyond the numbers, the 2018 Asian Games saw Indonesia succeed in making sporting achievements.

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