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The enormous economic impact of the 2023 ODI World Cup on India is shown by the ICC study. Thousands of employment and increased tourism were created by the event, which brought in a total economic gain of INR 11,637 crore (about $1.6 billion). This demonstrates how sports can stimulate economic growth.
Impact Of 2023 World Cup
The International Cricket Council (ICC) currently asserts that the ODi World Cup had a significant effect on India off the field as well. According to the ICC, the 2023 ODI World Cup in India generated a “economic benefit” of USD 1.39 billion, with tourism being one of the main beneficiaries, in a report titled “ICC Men’s Cricket World Cup 2023 Delivers Economic Boost to India”.
The ODI World Cup 2023 took place from October 5 to November 19, 2023, in ten different cities around the nation: Ahmedabad, Bengaluru, Chennai, Delhi, Dharamsala, Hyderabad, Kolkata, Lucknow, Mumbai, and Pune. As per the statement from the ICC, the tournament has demonstrated its ability to act as a stimulant for expansion in multiple domains, hence augmenting India’s economic growth and highlighting the significance of ICC tournaments.
Nearly 75% of the record-breaking 1.25 million spectators at the ICC Men’s Cricket World Cup 2023 were there for their first-ever ICC Men’s CWC 50-over match. Approximately 55% of the foreign respondents had been to India on a regular basis in the past, while 19% of the international attendees were visiting the nation for the first time because of the World Cup.
ICC and BCCI’s direct investment
The Board of Control for Cricket in India and the ICC directly funded the renovation of numerous host stadiums, which had additional benefits for India’s business sectors. To guarantee a hassle-free experience for spectators around the nation, the stadiums were renovated.
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Tourism: A key driver of expansion
There was a huge influx of both local and foreign tourists attending the matches, which resulted in a massive $861.4 million in income from accommodations, travel, transportation, and food and beverages.
$515.7 million in additional and secondary spending was added, accounting for 37% of the overall economic impact.
This World Cup will live on in the memories of players and fans alike, as the 13th edition shattered records for broadcast and internet viewing.
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