A report issued by the International Cricket Council on Wednesday said the Indian economy was benefitted by Rs 11,637 Cr owing to the 2023 ICC Cricket World Cup, which India hosted.
The report was based on an Economic Impact Assessment conducted by Nielsen-a New York-based firm-based on data provided by the ICC and the Board of Control for Cricket in India.
"A new economic report released today by the International Cricket Council says the ICC Men's Cricket World Cup 2023, the biggest Cricket World Cup ever, delivered a remarkable total economic impact of USD1.39 billion (INR 11,637 Crores) to the economy of India," said ICC in a statement on Wednesday.
The competition, which saw Australia defeat India in the final, ran from October 5 to November 19, 2023, with ten host cities-Ahmedabad, Bengaluru, Chennai, Delhi, Dharamsala, Hyderabad, Kolkata, Lucknow, Mumbai, and Pune-hosting matches.
The ICC underlined significant direct investment both from the global governing body and the BCCI, adding to stadium upgrades by state cricket associations, which had delivered economic benefits across various Indian businesses.
A record 1.25 million spectators attended the matches, of which 75% had never watched a men's 50-over World Cup game before. The event also drew in a significant international audience, as 19% of the international attendees visited India for the first time. Foreign visitors came in numbers and gave the economy a serious boost, as international travellers spent USD 281.2 million, while the overall pan-India impact was USD 253.9 million.
"A record-breaking 1.25 million spectators attended the ICC Men's Cricket World Cup 2023 of which nearly 75% were attending an ICC Men's CWC 50-over match for the first time ever. Nearly 55% of the international respondents had previously visited India regularly, whilst an injection of new visitors thanks to the World Cup saw 19% of international attendees making their first ever visit to the country," the statement added.
The ICC also estimated that over 48,000 full- and part-time jobs were induced due to the World Cup, both in direct employment related to the World Cup and throughout industries such as hospitality. This industry alone contributed to USD 18 million in economic value. Thirdly, media exposure of host cities through city shots, team kit branding, and mentions created a media impact of worth USD 70.7 million for businesses and other stakeholders.
Other revenues from accommodation, travel, transportation, and food and beverage services added another USD 861.4 million.
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