By Ian Omoro
According to the most recent ICC report, the 2023 ODI World Cup in India had a $1.39 billion “economic impact,” with tourism being one of the main benefactors.
The mega-event staged in October and November of last year was allegedly the largest ODI World Cup ever, according to the Economic Impact Assessment done by Nielsen for the International Cricket Council.
“The ICC Men’s Cricket World Cup 2023 has demonstrated the significant economic power of cricket, generating an economic benefit of US$ 1.39 billion (Rs 11,637 crore) for India,” ICC chief executive Geoff Allardice said.
On November 19 last year, Australia won the trophy for a record-tying sixth time, ending India’s winning streak in the competition.
“The impact of tourism across the host cities amounted to US$ 861.4 million of revenue generation through accommodation, travel, transportation, and food and beverage because of a massive influx of domestic and foreign tourists attending the matches. The secondary and incremental spending within the economy was a key driver, generating US$ 515.7 million, which was approximately 37 percent of the total impact,” ICC stated.
However, the ICC did not clarify if the enormous amount mentioned in the report represents real revenue or not.
According to the research, approximately 75% of the record-breaking 1.25 million fans at the major event were seeing an ICC 50-over match for the first time.
Almost 55% of the foreign respondents had been to India regularly in the past, but 19% of the overseas attendees were visiting the nation for the first time because of the World Cup.
During their visit, tourists from other countries visited several tourist sites, resulting in an economic impact of US$ 281.2 million. Additionally, nearly 68% of foreign attendees stated that they would suggest India to friends and family in the future, further bolstering India’s reputation internationally.
“The event proved that ICC events not only engage fans passionately but also significantly contribute to the economies of our host nations, as well as creating thousands of jobs and showcasing India as a top tourism destination,” Allardice said.
