Political campaigns often involve many attributes. Both those that are distributed and those that become the identity of the political party itself to attract public sympathy. Political party attributes in the form of flags, banners and t-shirts often color the political campaign season even long before the campaign period begins. As a result, what often makes a profit when the political season arrives is the textile industry and its derivatives. Seeing this, an economist from the Center of Reform on Economics, Yusuf Rendy, believes that it is natural for the textile industry and its derivative products to increase ahead of the 2024 elections. Reflecting on the 2019 elections, this industry is said to have made huge profits.
However, the case of this increase is different from the 2014 election. At that time, the textile industry and its derivative products actually slumped.
"So I think the political year can be a boost to the textile industry and its derivative products," said Yusuf in his statement, Monday (18/9/2023).
Even though it can be a driving force both nationally and globally, Yusuf noted that the textile industry is not the only factor that can influence the performance of this industry. The reason is that the textile industry and its derivative products always experience competition with new countries such as Bangladesh, which ultimately suppresses the competitiveness of the industry's performance.
Yusuf emphasized that there is still a lot of homework that needs to be done so that the textile industry and its derivatives can once again put themselves in an industrial position that has global competitiveness.
"So demand for this industry has increased again," he said.
Apart from taking advantage of the momentum of the 2024 Election which can be an impetus for this industry to continue to progress, other factors in the form of government policy will also help this industry grow again. For example, recently there was a policy prohibiting the import of used clothes. This, Yusuf added, could boost the performance of the textile industry and its derivatives next year.
"Once again this goes back to how business actors in this industry take advantage of these two moments," said Yusuf.
Another sector that will also be boosted during the 2024 elections is the telecommunications sector.
"Considering that currently campaigns are not only carried out online but also online and also through campaigns on social media," he added.
Another sector that is hot during the political year is the manufacturing industry, for example food, beverages, footwear, and so on.
In line with Yusuf, Bhima Yudhistira, Director of the Center of Economic and Law Studies, also said that several sectors would also see their income increase during the election. For example, clothing sales in the lower middle segment will increase.
He considered that the first thing that boosted his income was the T-shirt screen printing business for parties and legislative candidates. This happens because when there is a campaign or convoy of supporters, the attributes of t-shirts and flags are still in demand to become the identity of the political party itself.
The second reason is that not all money politics involve purchasing basic necessities. According to him, this was because someone spent IDR 100 thousand from legislative candidates to buy clothes. However, he added that this applies to the lower middle segment. Meanwhile, according to him, the upper class tends to save money during the election.
Meanwhile, sectors that grew during the election included venue rental, hotels, restaurants, event organizers, printing, advertising, print and electronic media, stage rental, arts and culture services and transportation rental services.