The 2023 ICC Men’s Cricket World Cup not only captivated cricket fans across the globe but also significantly impacted India’s economy. According to a report titled “ICC Men’s Cricket World Cup 2023 Delivers Economic Boost to India,” the tournament, held in October-November, generated an economic benefit of USD 1.39 billion (approximately Rs 11,637 crore). The report, conducted by Nielsen for the International Cricket Council (ICC), highlighted the event’s wide-reaching economic contributions, with tourism emerging as a primary beneficiary.
Economic Power of Cricket
ICC Chief Executive Geoff Allardice remarked on the massive financial impact the World Cup had on India, calling it the biggest-ever ODI World Cup. “The ICC Men’s Cricket World Cup 2023 has demonstrated the significant economic power of cricket,” Allardice said, emphasizing the staggering USD 1.39 billion economic benefit generated by the event.
Tourism Drives Major Revenue
A significant portion of this revenue—USD 861.4 million—was driven by tourism, with domestic and international visitors flocking to host cities. The influx of spectators boosted spending in sectors like accommodation, transportation, and food and beverage.
Secondary and incremental spending within the Indian economy further contributed USD 515.7 million, accounting for around 37% of the total economic impact, the report revealed.
Record-Breaking Attendance
The 2023 World Cup saw an impressive turnout, with 1.25 million spectators attending matches, many of them experiencing an ICC 50-over game for the first time. Additionally, the event attracted a substantial number of international visitors, with 19% of foreign attendees making their first-ever trip to India. Nearly 68% of international visitors said they would recommend India as a tourist destination, further bolstering the nation’s image globally.
Job Creation and Employment Impact
Beyond tourism, the World Cup created over 48,000 full-time and part-time jobs, particularly in the hospitality sector. Allardice praised the event for not only engaging cricket fans but also contributing to India’s economy by creating jobs and showcasing the country as a top-tier tourist destination.
Australia’s Victory and India’s Performance
While the tournament delivered economic success, on the field, Australia claimed their sixth World Cup title by ending India’s unbeaten streak in the final. Despite the heart-breaking loss, the Rohit Sharma-led Indian team impressed throughout the tournament, contributing to the event’s overall excitement and massive turnout.
In summary, the ICC Men’s Cricket World Cup 2023 was not just a thrilling sporting event but also an economic triumph for India, demonstrating the far-reaching impact of cricket on the country’s economy and global image.