The 2023 ODI World Cup in India had an "economic impact" of USD 1.39 billion, with tourism benefiting the most, according to a report released by the International Cricket Council (ICC) on Wednesday.
The World Cup, held in ten host cities (Ahmedabad, Bengaluru, Chennai, Delhi, Dharamsala, Hyderabad, Kolkata, Lucknow, Mumbai, and Pune) from October 5 to November 19, 2023, served as a catalyst for growth in a variety of sectors, significantly contributing to India's economy and demonstrating the value of ICC events.
Nielsen's Economic Impact Assessment for the ICC reported that the mega-event hosted in October-November of last year was the largest-ever ODI World Cup.
"The ICC Men's Cricket World Cup 2023 has demonstrated the significant economic power of cricket, generating economic benefit of USD 1.39 billion (Rs 11,637 crore) for India," ICC Chief Executive, Geoff Allardice said in a statement.
Australia won the ICC World Cup for the sixth time, ending India’s unbeaten run in the final in Ahmedabad in the final on November 19.
"The impact of tourism across the host cities amounted to USD 861.4 million of revenue generation, through accommodation, travel, transportation, and food and beverage because of a massive influx of domestic and foreign tourists attending the matches.
The secondary and incremental spending within the economy was a key driver, generating USD 515.7 million, which was approximately 37 percent of the total impact,” the ICC statement read.
A record-breaking 1.25 million spectators attended the mega event, of which nearly 75 percent were attending an ICC 50-over match for the first time, the report claimed.
"Nearly 55 percent 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.
International travelers visited multiple tourist destinations during their stay which amounted to an economic impact of USD281.2 million and nearly 68 percent of international attendees said that they would recommend India as a tourist destination to friends and family in the future further enhancing India's global image," the statement added.
According to the report, the event created over 48,000 full and part-time jobs through direct involvement in tournament delivery, as well as other businesses in the hospitality sector.
"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," Allardice said.
(ICC/PTI inputs)
