ODI World Cup 2023 generates massive economic boost of USD 1.39 billion to India
The 2023 ODI World Cup in India has generated a massive economic boost of $1.39 billion (₹ 11,637 Crores) for the country as per an International Cricket Council (ICC) report on September 11. In the Economic Impact assessment done by Nielsen for the ICC, the tournament was the biggest ever ODI World Cup.
The mega event ran to full houses across the stadiums with tremendous viewership figures from October 5 to November 19 last year.
The ICC statement regarding the economic impact of the World Cup read:
"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. 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."
The statement continued:
"Nearly 55 percent 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."
The report also added that over 48,000 jobs - full-time and part-time were created through the successful running of the tournament via direct involvement and through other organizations across the hospitality sector.
Meanwhile, on the field of play, Australia overcame a poor start to the competition to win their record sixth 50-over World Cup title. They defeated an unbeaten Indian side in the summit clash by six wickets in Ahmedabad.
"Showcased India as a premier tourist destination" - ICC Chief Executive Geoff Allardice
ICC Chief Executive Geoff Allardice was delighted with the 2023 World Cup showcasing India as a premier tourist destination and proving the value of ICC events to the host nations's economies.
The tournament was played across ten cities - Ahmedabad, Bengaluru, Chennai, Delhi, Dharamsala, Hyderabad, Kolkata, Lucknow, Mumbai and Pune.
"The ICC Men's Cricket World Cup 2023 has demonstrated the significant economic power of cricket, generating economic benefit of USD1.39 billion for India. 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," said Geoff Allardice.
India will be the co-hosts for the 2026 T20 World Cup along with Sri Lanka, while the next ODI World Cup in 2027 will be played in South Africa, Zimbabwe and Namibia.