The ICC Men’s Cricket World Cup 2023, hosted in India, has proven to be a significant economic driver for the country. A comprehensive analysis by Nielsen revealed that the tournament generated a staggering USD 1.39 billion (INR 11,637 crores)
The event’s success was fueled by a surge in tourism, increased hospitality revenue, and a boost in retail spending. International visitors flocked to India, contributing substantially to the local economy through their accommodation, dining, and shopping activities.
The hospitality industry experienced a significant uptick, with hotels and restaurants operating near capacity. Moreover, the retail sector saw a surge in sales as fans purchased merchandise, souvenirs, and other World Cup-related items.
ICC Chief Executive, Geoff Allardice emphasized the event’s economic significance, stating, “The ICC Men’s Cricket World Cup 2023 has demonstrated the significant economic power of cricket, generating economic benefit of USD1.39 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.”
Beyond the direct economic benefits, the World Cup also had a lasting impact on India’s image as a sporting destination. The successful hosting of the tournament showcased the country’s capabilities in organising large-scale sporting events and is expected to attract more international visitors in the future. International travellers visited multiple tourist destinations, contributing an economic impact of USD 281.2 million. Additionally, nearly 68% of international attendees said they would recommend India as a tourist destination to friends and family, further enhancing India’s global image.
The event created over 48,000 full-time and part-time jobs, directly involved in tournament delivery and indirectly through the hospitality sector. This additional economic value contributed an estimated USD 18 million to the Indian economy.
The World Cup also provided significant media exposure for India’s host cities. City shots, branding on team kits, and verbal mentions generated a media impact of USD 70.7 million for businesses and stakeholders.
The economic impact of the ICC Men’s Cricket World Cup 2023 underscores the immense potential of sports tourism to contribute significantly to a country’s GDP. As India continues to host major sporting events, the economic benefits are expected to grow in the years to come.
