2023 ODI World Cup Generates USD 1.39 Billion Economic Impact in India

The 2023 ODI World Cup in India generated a staggering economic impact of USD 1.39 billion, according to a report released by the International Cricket Council (ICC). The mega-event, held in October-November last year, was the biggest ever ODI World Cup, attracting a record-breaking 1.25 million spectators.

Tourism emerged as the primary beneficiary, with an estimated USD 861.4 million in revenue generated through accommodation, travel, transportation, and food and beverage. The influx of domestic and foreign tourists attending the matches contributed significantly to this economic boost.

Secondary and incremental spending within the economy also played a crucial role, generating USD 515.7 million, approximately 37% of the total impact. The report highlights that nearly 75% of spectators were attending an ICC 50-over match for the first time, indicating the event's ability to attract new fans.

International travelers made a significant contribution to the economic impact, with nearly 55% having previously visited India regularly. However, the World Cup also attracted a substantial number of first-time visitors, with 19% of international attendees making their maiden trip to the country.

These international travelers visited multiple tourist destinations during their stay, generating an economic impact of USD 281.2 million. The report also notes that nearly 68% of international attendees expressed their intention to recommend India as a tourist destination to friends and family, further enhancing the country's global image.

The event also created over 48,000 full and part-time jobs, both directly through tournament delivery and indirectly through the hospitality sector. ICC Chief Executive Geoff Allardice emphasized the event's positive impact on the Indian economy, stating that it "demonstrated the significant economic power of cricket."

Tags: #Cricket, #ODIWorldCup, #EconomicImpact, #Tourism, #India