The International Cricket Council (ICC) today issued a fresh economic report that shows the remarkable total economic impact of the ICC Men’s Cricket World Cup 2023 (INR 11,637 crores) on the Indian economy. This is the biggest Cricket World Cup ever.
The 2023 World Cup, which was held in ten host cities—Ahmedabad, Bengaluru, Chennai, Delhi, Dharamsala, Hyderabad, Kolkata, Lucknow, Mumbai, and Pune—proved to be a catalyst for growth in a number of sectors, greatly boosting the Indian economy and demonstrating the importance of ICC events.
Businesses across a variety of industries in India benefited directly from the ICC and BCCI’s direct investments in the event’s staging as well as a program of stadium improvements carried out by the State Cricket Associations.
Due to a huge influx of both local and foreign tourists watching the matches, tourism had a significant financial influence on the host towns, generating USD861.4 million through lodging, travel, transportation, and food and beverage sales. A major contributor to the overall impact, accounting for over 37% of the total, was the economy’s secondary and additive spending, which generated USD515.7 million.
An unprecedented 1.25 million fans turned out for the ICC Men’s Cricket World Cup 2023, with approximately 75% of them witnessing a 50-over match for the first time.
While 19% of foreign attendees were visiting India for the first time because of the World Cup, nearly 55% of the international respondents have previously visited the country on a regular basis.
During their visit, visitors from other countries visited a number of tourist attractions, resulting in an economic impact of USD 281.2 million. Additionally, nearly 68% of foreign attendees stated that they would suggest India to friends and family in the future, further boosting India’s reputation internationally. Foreign visitors stayed in the country for an average of more than five nights, while local visitors stayed in host cities for an average of two nights.
With the event’s USD253.9 million pan-Indian impact—a value unrelated to the host city—an astounding 73% of local participants felt that hosting the Cricket World Cup improved India’s reputation.
Through direct involvement in organizing the tournament and other organizations in the hospitality sector that further contributed USD18 million in value to the economy, the hosting of the ICC Men’s Cricket World Cup resulted in the creation of almost 48,000 full- and part-time jobs.
A media effect of USD70.7 million was generated for businesses and stakeholders by the event, which received extensive exposure in the host cities and in India through city shots, branding on the team kit, and verbal references.
According to the survey, there are enduring benefits for the Indian economy that go beyond the World Cup time. Of the overseas attendees, 59% said they would definitely visit India again in the future. The occasion exhibited India as a top-tier athletic destination and showed off cricket’s potential as an engine for economic growth.
Also Read: ICC names August Player of the Month nominees
The ICC Men’s Cricket World Cup 2023 has shown the considerable economic power of cricket, providing USD 1.39 billion in economic value for India, according to ICC Chief Executive Geoff Allardice. The occasion proved that ICC tournaments not only captivate fans with emotion but also make a substantial economic contribution to the countries in which they are held. It also produced thousands of employment and promoted India as a top travel destination.”
India
