ICC World Cup 2023 Generates Rs 11,637 Cr Economic Impact On India

ICC World Cup 2023: The ICC and BCCI's direct investments drove the economic surge, providing direct benefits to Indian businesses across various sectors

ICC World Cup 2023: One of the standout achievements of the tournament was the record-breaking attendance, with 1.25 million spectators witnessing the matches.

Source : PTI

The 2023 ICC Men's Cricket World Cup, hosted in India, brought a significant economic boost, contributing $1.39 billion (Rs 11,637 crores) to the Indian economy, according to a report released by the International Cricket Council (ICC). The Economic Impact Assessment, conducted by Nielsen in collaboration with the ICC and the Board of Control for Cricket in India (BCCI), highlighted the financial benefits from the tournament held between October 5 and November 19, 2023. The ICC report reflects how the 2023 World Cup not only crowned Australia as champions but also delivered substantial economic gains for India.

Key Investments and Economic Benefits

The ICC and BCCI's direct investments, along with state cricket associations' efforts to upgrade stadiums, drove the economic surge, providing direct benefits to Indian businesses across various sectors. The World Cup, held across 10 host cities, including Ahmedabad, Bengaluru, Chennai, Delhi, Kolkata, and Mumbai, spurred spending in areas like hospitality, infrastructure, and transportation.

Record-Breaking Attendance at Matches

One of the standout achievements of the tournament was the record-breaking attendance, with 1.25 million spectators witnessing the matches. Notably, 75 per cent of these attendees were experiencing a men's 50-over World Cup for the first time. Among international attendees, 19 per cent were first-time visitors to India, contributing significantly to the country's tourism sector. International travellers generated an economic impact of $281.2 million, with the pan-India impact of the event amounting to $253.9 million.

Job Creation and Sectoral Boosts

The tournament also provided a considerable boost to employment, creating over 48,000 full and part-time jobs. These positions stemmed from both direct involvement in organising the event and roles within the hospitality sector, which alone contributed $18 million to the economy.

Media and Tourism Impact

In addition to direct economic contributions, the host cities benefitted from significant exposure through media coverage, branding, and city shots, generating a media impact valued at $70.7 million. The total revenue from accommodation, travel, and food and beverage amounted to $861.4 million, underscoring the wide-ranging financial impact of the event.