India received Rs 11,600 crore boost to economy by hosting ODI World Cup 2023, says ICC report
BCCI and India hosted the ICC men's ODI World Cup 2023 across 10 cities last year which benefitted the nation's economy by more than $1 billion.
The International Cricket Council (ICC) have released a fresh economic report on Wednesday (eleventh of September) which revealed that Indian economy got a giant boost of over Rs eleven,600 crore ($1.39 billion) by web hosting the ODI World Cup 2023 last year. Team India lost to Australia in the final of the ICC ODI World Cup 2023 which was once hosted across 10 cities in the U.S. of a.
The ODI World Cup occurred between 5 October and 19 November 2023 in host cities – Ahmedabad, Bengaluru, Chennai, Delhi, Dharamsala, Hyderabad, Kolkata, Lucknow, Mumbai and Pune – and proved to be a catalyst for growth across a sort of sectors, contributing significantly to India’s economy and showcasing the value of ICC events.
“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 sort of sectors. The impact of tourism across the host cities amounted to $861.Four million of revenue generation, through accommodation, go backwards and forwards, transportation and food and beverage attributable to a giant influx of domestic and foreign tourists attending the matches. The secondary and incremental spends right through the economy was once a key driver, generating $515.7 million, which was once approximately 37% of the complete impact,” an ICC statement read.
Major ICC tournaments in India:
ODI World Cup in 2023.
ODI Women’s World Cup in 2025.
T20 World Cup in 2026. [Co-host]
Champions Trophy in 2029.
ODI World Cup in 2031. [Co-host] p.c.twitter.com/hzKUdUwOXD— Johns. (@CricCrazyJohns) September 28, 2023
A record-breaking 1.25 million spectators attended the ICC men’s ODI Cricket World Cup 2023 of which nearly seventy 5 per cent were attending an ICC men’s CWC 50-over match for the first time ever. Nearly 55 per cent of the international respondents had during the past visited India on a customary basis, concurrently an injection of new visitors as because of the of World Cup saw 19% of international attendees making their first ever refer to to the U.S. of a.
“International travelers visited more than one tourist destinations right through their stay which amounted to an economic impact of $281.2 million and nearly Sixty eight% of international attendees said that they would recommend India as a tourist destination to family and friends in due course as well enhancing India’s global image. The vast majority of international visitors spent more than 5 nights in the U.S. of a with domestic travelers staying in host cities for a customary of two nights,” the statement added.
seventy three per cent of local attendees said web hosting the Cricket World Cup reflected positively on just like India, with the Pan-India impact – value no longer linked to a host city – of the event amounting to $253.9 million.
“In web hosting the ICC Men’s Cricket World Cup over forty eight,000 full and part time jobs were created by the event through direct involvement in delivering the tournament, as well to other organizations across the hospitality sector which as well contributed $18 million as value to the economy. The event saw high exposure of host cities and India through city shots, branding on team kit and verbal mentions, generating a media impact of USD70.7 million for businesses and stakeholders,” the ICC revealed.
The report as well highlights benefits extending beyond the World Cup period to create a lasting impact on the Indian economy as Fifty 9% of international attendees mentioned they were highly more likely to refer to India again in due course. The event showcased India as a world-class sporting destination and demonstrated the pliability of cricket as a vehicle for economic development.
“The ICC Men’s Cricket World Cup 2023 has demonstrated the significant economic power of cricket, generating 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 no longer handiest engage fans passionately but additionally make a contribution significantly to the economies of our host nations,” ICC Chief Executive Geoff Allardice said.
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