Prostitution and illegal drugs shall boost a country’s GDP – that seems like a new International Standard…

Just read the article “Drugs and prostitution add £10bn to UK economy” from 29th May in Financial Times

http://www.ft.com/intl/cms/s/2/65704ba0-e730-11e3-88be-00144feabdc0.html

– A few quotes here:

»Britain said on Thursday it would include prostitution and illegal drugs in its official national accounts for the first time. The move is one of the changes planned for September that will add up to 5 per cent to the UK’s gross domestic product.«

»The UK is not alone in updating how it measures its economy to meet international standards. Last week, Italy’s statistical office said it would start to include, among other activities, the sale of cocaine and prostitution. And last year the US expanded its definition of investment, which added 3.6 per cent to the size of 2012 GDP.«

»Overall, the changes announced on Thursday will add £33bn or 2.3 per cent to the 2009 level of GDP. The ONS has not yet calculated the effects on more recent years. Other changes – which will reflect new international standards adopted by all EU member states – will be announced in June.«

Updating (expanding) the GDP seems to me like making a country worth more or performing better. So why does EU wish laws prohibiting prostitution, when it’s worth billions of Euro and seems so necessary for the GDP statistics…

Just wonder how much that new International Standard may boost Thailand’s GDP – especially if all the monthly allowance transfers, and money for “sick buffalos” or like stories, are included – any guess…?

Not directly Thailand related.

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