The biggest extravaganza in cricket is slated to commence in just 2 weeks’ time. Keeping the sporting aspect away, the World Cup 2023 has its manifold effect not just on the Indian Cricket Team but also on the country. For a country that will host its fourth World Cup, the 2023 edition is all set to break boundaries. Coming to the economics part of the game, India is set to a substantial gain in its GDP as the nation will get a $1.6 Billion boost.
Set to topple the revenues and the economics of World Cup 2023 are at a high. As per estimates by BQ Prime, the World Cup 2023 will give a boost to the Indian economy as India’s GDP will see a rise of 0.048%. This will be the highest compared to what the previous versions of the World Cup did to other host countries.
India last hosted the World Cup back in 2011 where the hosts emerged victorious. 12 years later, it remains to be seen whether the Men in Blue can replicate the same feat but certainly, the economics of the game has changed. India’s revenue will see a boost of roughly $1.6 Billion.
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Calculating the dynamics of the rise in GDP is a tough job as it has multiple interlinked criteria. From fans going to the stadium to buying tickets to availing flights and hotels for travel and accommodation for the games all across the country, contributes majorly to the boom in the Indian economy.
The traveling industry has seen a boom in their revenues. Cricket fans, media, and others from all across the globe are heading to the country. As a result, there has been a surge in flights, hotels, restaurants, and other industries that are directly contributing to the rise of India’s GDP.
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Finally comes the season of festivals. With the World Cup directly clashing with some of the biggest festivals of the country, there is bound to be yet another rise in revenues with the traveling and visiting fans embracing the Indian cultures, which indirectly begins contributing to India’s revenue gain.
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