Dubai: According to a revenue report released on Wednesday by the International Cricket Council (ICC), India’s hosting of the 2023 Cricket World Cup had a significant economic impact of Rs 11,637 crore on the Indian economy.
The research was based on an Economic Impact Assessment completed by Nielsen, a New York-based consultancy, using data from the International Cricket Council (ICC) and the Board of Control for Cricket in India. The assessment considered factors such as direct spending by the ICC and BCCI, stadium enhancements, and the influx of foreign visitors to calculate the total economic impact.
“A new economic report released today by the International Cricket Council (ICC) reveals that the ICC Men’s Cricket World Cup 2023, the biggest Cricket World Cup ever, generated an incredible total economic impact of USD1.39 billion (INR 11,637 Crores) for the economy of India,” said ICC in a statement released on Wednesday.
The event, which witnessed Australia defeat India in the final, took place in 10 host cities from October 5 to November 19, 2023: Ahmedabad, Bengaluru, Chennai, Delhi, Dharamsala, Hyderabad, Kolkata, Lucknow, Mumbai, and Pune.
The ICC emphasised significant direct investment from both the global governing body and the BCCI. This investment was primarily in the form of infrastructure development, marketing, and player compensation. Additionally, stadium enhancements by state cricket associations, which were also part of this investment, resulted in economic advantages for numerous Indian enterprises across sectors.
A record-breaking 1.25 million spectators, a testament to the global appeal of cricket, attended the matches. 75% of them were experiencing the thrill of a men’s 50-over World Cup match for the first time. The tournament also drew a large international audience, with 19% of international attendees making their maiden visit to India. This influx of foreign visitors made a significant contribution to the economy, with international travellers spending USD 281.2 million and the overall pan-India impact amounting to USD 253.9 million.
The ICC Men’s Cricket World Cup 2023 was a truly global event, with a record-breaking 1.25 million spectators in attendance. Nearly 75% of them were experiencing the excitement of an ICC Men’s CWC 50-over match for the first time ever. The tournament also drew a large international audience, with 19% of international attendees making their first-ever visit to India, a testament to the event’s global impact. The statement added that nearly 55% of the international respondents had previously visited India regularly, whilst an injection of new visitors thanks to the World Cup saw 19% of international attendees making their first-ever visit to the country.
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The ICC also revealed that over 48,000 full and part-time jobs were created as a result of the World Cup, not only through direct involvement in the tournament but also across industries such as hospitality. This sector, a key player in the success of the event, alone contributed USD 18 million in economic value. Furthermore, media exposure for host cities, through city shots, team kit branding, and mentions, generated a media impact worth USD 70.7 million for businesses and stakeholders.
Revenue from accommodation, travel, transportation, and food and beverage services brought in an additional USD 861.4 million.
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–IANS
(Photo: IANS/Biplab Banerjee)
