While India has an unmatched craze around cricket and is known for its fanfare worldwide, the ICC Men’s Cricket World Cup that took place between October 5 and November 19 across 10 cities in India, generated an incredible total economic impact of $1.39 billion or Rs 11,637 crore for the economy of India. An economic report released by the International Cricket Council (ICC) recently said that the World Cup proved to be a catalyst for growth across various sectors, contributing significantly to India’s economy and showcasing the value of ICC events.
The World Cup was hosted in cities like Ahmedabad, Bengaluru, Chennai, Delhi, Dharamsala, Hyderabad, Kolkata, Lucknow, Mumbai and Pune, and it delivered direct benefits to these cities, besides various sectors across the country including hospitality, travel, FMCG and others. In the report, ICC said, “Direct investment into staging the event from both the ICC and the BCCI combined with a programme of stadium upgrades via the State Cricket Associations delivered direct benefits to Indian businesses across a range of sectors.”
The World Cup saw high exposure of host cities and India through city shots, branding on team kit and verbal mentions, generating a media impact of $70.7 million for businesses and stakeholders.
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Cricket fans from across India and abroad adding to revenue generation
In terms of tourism across the host cities, the World Cup recorded a revenue generation amounting to $861.4 million, 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 spends within the economy was a key driver, ICC added, generating $515.7 million, which was approximately 37 per cent of the total impact.
The ICC Men’s World Cup 2023 saw a record-breaking 1.25 million spectators attending, of which nearly 75 per cent were attending an ICC Men’s CWC 50-over match for the first time ever. Per the data shared by ICC, nearly 55 per cent of the international respondents had previously visited India regularly, whilst 19 per cent of international attendees marked their first ever visit to the country, thanks to the World Cup.
Now, these international travelers also visited multiple tourist destinations during their stay, which amounted to an economic impact of $281.2 million. What’s a good news of the tourism industry of India, nearly 68 per cent of international attendees said that they would recommend the country as a tourist destination to friends and family in the future, enhancing India’s global image. The majority of international visitors spent more than five nights in the country with domestic travelers staying in host cities for an average of two nights, said the report, while adding that “an impressive 73 per cent of local attendees said hosting the Cricket World Cup reflected positively on the image of India”, with the pan-India impact – value not associated with a host city – of the event amounting to $253.9 million.
The report further highlighted the benefits extending beyond the World Cup period to create a lasting impact on the Indian economy as 59 per cent of international attendees mentioned they were highly likely to visit India again in the future. “The event showcased India as a world-class sporting destination and demonstrated the power of cricket as a vehicle for economic development,” it added.
Job creation from ICC Men’s Cricket World Cup
The event created over 48,000 full and part time jobs through direct involvement in delivering the tournament, as well as other organizations across the hospitality sector which further contributed $18 million as value to the economy, stated the economic report by ICC.
Geoff Allardice, Chief Executive, ICC, said, “The ICC Men’s Cricket World Cup 2023 has demonstrated the significant economic power of cricket, generating an economic benefit of $1.39 billion for India. The event created thousands of jobs and showcased India as a premier tourist destination, proving that ICC events not only engage fans passionately but also contribute significantly to the economies of our host nations.”
