ICC World Cup 2023 Generated $1.39 Billion Economic Surge for India

The ICC World Cup 2023 has provided a substantial economic boost to India, contributing an impressive USD 1.39 billion (INR 11,637 Crores) to the nation’s economy, according to a recent report by the International Cricket Council (ICC). Held from October 5 to November 19, 2023, the tournament spanned across 10 vibrant host cities, including Ahmedabad, Bengaluru, Chennai, and Mumbai. The World Cup has not only showcased India’s capacity to host major international events but also highlighted its growing influence in global sports tourism.

Tourism Revenue Soars

One of the most significant contributions came from tourism, which generated USD 861.4 million in revenue. This substantial amount reflects the increased spending by both domestic and international visitors on accommodation, travel, and dining. The influx of tourists not only provided a boost to local businesses but also highlighted India’s appeal as a premier travel destination. The tourism sector alone accounted for 37% of the total economic impact of the World Cup, underscoring the importance of sports events in driving tourism.

Record-Breaking Stadium Attendance

The ICC Men’s Cricket World Cup 2023 attracted a record-breaking 1.25 million (12.5 lakhs) spectators to stadiums across the country. This was a significant achievement, with nearly 75% of these attendees experiencing an ICC Men’s Cricket World Cup for the first time. The tournament drew 19% of international visitors to India for the first time, while 55% had previously visited the country. This high level of attendance not only contributed to the overall economic boost but also demonstrated the global appeal of cricket and the World Cup.

Local Impact and Employment Opportunities

The World Cup had a positive impact on the local population and economy, with 73% of attendees noting that hosting the event enhanced India’s global image. Moreover, the event led to the creation of over 48,000 jobs, both full-time and part-time. These jobs were created through direct involvement in the tournament’s organization as well as in related sectors such as hospitality. The employment opportunities generated contributed an additional USD 18 million to the economy, reflecting the World Cup’s role in providing economic benefits at the grassroots level.

Media Exposure Enhances Economic Value

The ICC World Cup 2023 also provided a significant boost in media exposure for the host cities and India as a whole. The event generated USD 70.7 million (Rs 593 Crores) in media value, achieved through city highlights, team branding, and mentions across various media platforms. This exposure not only elevated the profile of the host cities but also provided added value to local businesses and stakeholders, further enhancing the economic impact of the World Cup.

Long-Term Economic Benefits

The benefits of the World Cup are expected to extend beyond the event itself. According to the report, 59% of international visitors indicated that they are likely to return to India in the future. This potential for repeat visits underscores the World Cup’s role in showcasing India as a top-tier sporting destination and enhancing its global reputation. The tournament demonstrated how cricket can be a powerful driver of economic growth and long-term tourism benefits.

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