The ICC Men’s Cricket World Cup 2023, held from October 5 to November 19, 2023, across ten major Indian cities, has been a monumental event not just for cricket enthusiasts but also for the Indian economy. According to a report released by the International Cricket Council (ICC), the tournament generated a staggering economic impact of Rs 11,637 crore (USD 1.39 billion) for India.
Economic Contributions by World Cup 2023
The World Cup’s economic impact was multifaceted, benefiting various sectors across the country. The ICC and the Board of Control for Cricket in India (BCCI) made significant investments in staging the event, including a robust stadium upgrade initiative carried out by state cricket associations. This investment directly benefited numerous industries, showcasing the tangible value of hosting such globally significant events.
Tourism: A Major Driver
One of the largest contributors to the economic impact was tourism. The report revealed that tourism alone generated an astounding USD 861.4 million in revenue. This surge was attributed to the influx of both domestic and international tourists who traveled to watch the matches in host cities like Ahmedabad, Bengaluru, Chennai, Delhi, Dharamsala, Hyderabad, Kolkata, Lucknow, Mumbai, and Pune. The event attracted a record-breaking 1.25 million spectators, with nearly 75% attending an ICC Men’s CWC 50-over match for the first time ever.
Job Creation and Local Economy Boost
The World Cup also had a significant impact on job creation. Over 48,000 full and part-time jobs were created through direct involvement in delivering the tournament, as well as other organizations across the hospitality sector. This contributed an additional USD 18 million to the economy. The secondary and incremental spends within the economy were key drivers, generating USD 515.7 million, which was approximately 37% of the total impact.
Media and Global Exposure
The event saw high exposure of host cities and India through city shots, branding on team kits, and verbal mentions, generating a media impact of USD 70.7 million for businesses and stakeholders. This exposure not only boosted the local economy but also enhanced India’s global image as a premier tourist destination.
🚨 The ICC Men's Cricket World Cup 2023, the largest in the tournament's history, had a significant economic impact on India's economy, contributing $1.39 billion (Rs 11,637 crore) – ICC#BCCI #ICC #India #Australia pic.twitter.com/ViaHPRIFsf
— Indian Trend 𝕏 (@IndianTrendX) September 11, 2024
Visitor Experience and Future Prospects
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. An impressive 73% of local attendees said hosting the Cricket World Cup reflected positively on the image of India. Nearly 68% of international attendees mentioned that they would recommend India as a tourist destination to friends and family in the future, further enhancing India’s global image.
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