DUBAI: The International Cricket Council (ICC) on Wednesday, released a new economic report regarding the Men’s Cricket World Cup 2023, stating that the tournament generated a massive boost to the economy of India.
According to the report, the Indian economy received a hefty boost of USD1.39 billion (INR 11,637 Crores) by hosting the global event.
The ICC Men’s Cricket World Cup 2023 Economic Impact Assessment, conducted by Nielsen revealed that the 10-team tournament held in October-November last year was the biggest edition of the 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 for India,” ICC Chief Executive, Geoff Allardice said in a statement.
The report further claimed that a record-breaking 1.25 million fans attended the World Cup 2023 out of which 75 per cent were attending a 50-over Men’s World Cup for the first time.
Out of the foreign spectators, 55 per cent had previously visited India but the ICC Men’s World Cup 2023 resulted in a major hike as 19 per cent of spectators visited the country for the first time.
“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,” read an ICC statement.
“The secondary and incremental spends within the economy was a key driver, generating USD 515.7 million, which was approximately 37 per cent of the total impact.
“International travellers visited multiple tourist destinations during their stay which amounted to an economic impact of USD281.2 million and nearly 68 per cent 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.”
Besides tourism, the ICC Men’s World Cup 2023 also resulted in the creation of over 48,000 full and part-time jobs.
“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.
It is worth mentioning here that Australia outclassed unbeaten India in the final at the Narendra Modi Stadium, Ahmedabad to lift their sixth ODI World Cup title.
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