ICC Men’s Cricket World Cup 2023 Brings USD 1 Billion to the Indian Economy. 39 Billion Impact
According to the findings of the research, the ICC Men’s Cricket World Cup 2023 benefited the Indian economy greatly and the contribution to the economy is estimated to be USD 1. 39 billion. From the ICC, the tournament which was played in October/ November, 2023 enhanced tourism, which led to revenue enhancement through accommodation, travel and food services. The report of the ICC is namely, ICC Men’s Cricket World Cup 2023, has provided the economic impact of tourism in India which is USD 861. has contributed an additional four million to this total fund.
The ICC attributed the event with making an estimated value of USD 515. Secondary and incremental spending totals 7 million, representing 37 % of the total economic benefit. This figure includes sale revenue from a record 1. 25 million spectators to be able to attend the matches. Out of these attendees, that is more than a quarter of a billion people, more than 75% were first-time ICC 50-over cricket match viewers, thus making it a new world-viewing habit for cricket.
Tourism was a central player of this given increase. First time international travellers stand at approximately 18% due to the cup and the overall earnings was USD 281. 2 million to the economy of common wealth it is evident that the later had better resources and financial ability needed to construct the facility. The report also showed that 68 % of these international attendees are willing to recommend India for tourism to their friends and families, which again improves India’s image.
In addition to this, the tournament contributed towards generation of headcount employment for over 48,000 full and part-time staffs from a direct engagement in the organization of the event primarily in the accommodation sector. ICC Chief Executive Geoff Allardice also added in highlighting that the tournament not only provided entertainment to cricket lovers all across the globe but also stimulated India’s economy in so many ways.
It was a bitter-sweet moment for both teams – while celebrating victory, Australia won the tournament and thus, deprived India of the title for the first time in finals – still, India sustained an unbeaten streak in last two years under the current coach.
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