2023 ODI World Cup in India generated economic impact of USD 1.39 billion; tourism industry among biggest beneficiaries

The Economic Impact Assessment conducted by Nielsen for the ICC, claimed that the mega-event held in October-November last year was the biggest ever ODI World Cup.

A record-breaking 1.25 million spectators attended the mega event, of which nearly 75 per cent were attending an ICC 50-over match for the first time ever. | Photo Credit: REUTERS

The 2023 ODI World Cup in India created an “economic impact” of USD 1.39 billion, with tourism among the biggest beneficiaries, according to a report released by the International Cricket Council (ICC) on Wednesday.

The Economic Impact Assessment conducted by Nielsen for the ICC, claimed that the mega-event held in October-November last year was the biggest ever ODI World Cup.

“The ICC Men’s Cricket World Cup 2023 has demonstrated the significant economic power of cricket, generating economic benefit of USD 1.39 billion (Rs 11,637 crore) for India,” ICC Chief Executive, Geoff Allardice said in a statement.

Australia ended India’s unbeaten run in the tournament to win the trophy for a record-extending sixth time.

“The impact of tourism across the host cities amounted to USD 861.4 million of revenue generation, through accommodation, travel, transportation and food and beverage because of a massive influx of domestic and foreign tourists attending the matches,” read an ICC statement.

“The secondary and incremental spends within the economy was a key driver, generating USD 515.7 million, which was approximately 37 per cent of the total impact.”

However, the ICC did not specify whether the massive figure cited in the report is actual revenue.

A record-breaking 1.25 million spectators attended the mega event, of which nearly 75 per cent were attending an ICC 50-over match for the first time ever, the report claimed.

“Nearly 55 per cent of the international respondents had previously visited India regularly, whilst an injection of new visitors thanks to the World Cup saw 19 per cent of international attendees making their first ever visit to the country.

“International travellers visited multiple tourist destinations during their stay which amounted to an economic impact of USD 281.2 million and nearly 68 per cent of international attendees said that they would recommend India as a tourist destination to friends and family in the future further enhancing India’s global image,” read the statement from the governing body.

Over 48,000 full and part time jobs were created by the event through direct involvement in delivering the tournament, as well as other organisations across the hospitality sector, added the report.

“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,” Allardice said.