STAGGERING! ODI World Cup 2023 generated economic boost worth Rs 11,637 crore for India, reveals ICC
By Sunita Iyer | First Published Sep 11, 2024, 3:37 PM ISTThe ICC has unveiled a comprehensive report detailing the substantial economic benefits generated by the 2023 ODI World Cup, held in India from October to November.
The International Cricket Council (ICC) has unveiled a comprehensive report detailing the substantial economic benefits generated by the 2023 ODI World Cup, held in India from October to November. The tournament, which has been touted as the largest ODI World Cup ever, contributed an impressive USD 1.39 billion (approximately Rs 11,637 crore) to the Indian economy, with tourism emerging as a major benefactor.
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Geoff Allardice, ICC Chief Executive, emphasized the economic significance of the event in a statement, noting, "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." The report, conducted by Nielsen as part of the Economic Impact Assessment, highlights the tournament's role in bolstering India's economic landscape.
🚨 2023 WORLD CUP ADDED 11,637CR INR TO THE INDIAN ECONOMY. 🚨
- This is insane amount! 🤯🇮🇳 pic.twitter.com/S0e6r1CVxY
A substantial portion of the economic impact came from tourism, with the event attracting a massive influx of both domestic and international visitors. According to the ICC, tourism-related revenues amounted to USD 861.4 million. This revenue was driven by spending on accommodation, travel, transportation, and food and beverage, as fans flocked to the host cities to witness the matches. The influx of tourists resulted in significant secondary and incremental spending, which generated an additional USD 515.7 million, accounting for approximately 37 percent of the total economic impact.
The report also underscores the widespread appeal of the tournament, noting that about 75% of the record-breaking 1.25 million fans attending the event were experiencing an ICC 50-over match for the first time. The event attracted a diverse international audience, with nearly 55% of international respondents having visited India previously, and 19% of international attendees visiting India for the first time due to the World Cup.
The World Cup's impact extended beyond immediate tourism benefits. The event directly contributed to the creation of around 48,000 full- and part-time jobs, particularly in the hotel industry and related sectors. This job creation underscores the World Cup's role in showcasing India as a premier tourist destination and its broader economic benefits.
The report also highlights that international travelers explored multiple tourist destinations during their stay, contributing USD 281.2 million to the economy. The positive experience led to 68% of international attendees recommending India as a tourist destination to friends and family, further enhancing the country’s global image.
Geoff Allardice praised the event's contributions, stating, "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."
While the ICC’s report emphasizes the positive economic impact, it does not clarify whether the reported figures represent genuine revenue or are indicative of broader economic contributions.
The 2023 ODI World Cup, which saw Australia clinch the trophy for a record-extending sixth time and end India's winning streak in the tournament, has left a lasting legacy in terms of economic benefits and global visibility for India, illustrating the profound influence of major sporting events on national economies.
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