The ICC Men’s Cricket World Cup 2023 has given an economic boost to India, generating a total of USD 1.39 billion (INR 11,637 Crores), according to a report released by the International Cricket Council (ICC).
The World Cup, held from 5 October to 19 November 2023 across 10 host cities including Ahmedabad, Bengaluru, Chennai, and Mumbai, helped boost various sectors.
Tourism alone contributed USD 861.4 million in revenue, with domestic and foreign visitors spending on accommodation, travel, and food. This influx of tourists led to increased spending, which accounted for 37% of the total economic impact.
Record attendance at the stadiums
A record 1.25 million (12.5 lakhs) spectators attended the matches, with nearly 75% attending an ICC Men’s Cricket World Cup for the first time. Around 19% of international visitors visited India for the first time, while 55% had visited the country earlier.
Local impact and job creation
According to the report, The World Cup impacted the local population, with 73% of attendees agreeing that hosting the event reflected well on India’s image. It also created over 48,000 jobs, both full-time and part-time, through direct involvement in organizing the tournament and related sectors like hospitality. These jobs contributed an additional USD 18 million to the economy.
Media exposure added value
The event gave host cities and India a good boost in media exposure, generating USD 70.7 million (Rs 593 Cr) in media value through city shots, team branding, and verbal mentions. This further strengthened the economic impact on local businesses and stakeholders.
Lasting economic benefits
The report suggests that the benefits of the World Cup will extend beyond the event, as 59% of international visitors said they are likely to visit India again. The World Cup showcased India as a world-class sporting destination and demonstrated how cricket can drive economic growth.
