Dharwad university, University in Hubli, India

Dubai, Sep 11: The 2023 Cricket World Cup, hosted by India, had a significant economic impact of Rs 11,637 Cr on the Indian economy, according to a report released by the International Cricket Council (ICC) on Wednesday. The report was based on an Economic Impact Assessment conducted by Nielsen, a New York-based firm, using data provided by the ICC and the Board of Control for Cricket in India (BCCI)."A new economic report released today by the International Cricket Council (ICC) reveals that the ICC Men’s Cricket World Cup 2023, the biggest Cricket World Cup ever, generated an incredible total economic impact of USD1.39 billion (INR 11,637 Crores) for the economy of India," said ICC in a statement released on Wednesday.The tournament, which saw Australia defeat India in the final, was held from October 5 to November 19, 2023, across ten host cities: Ahmedabad, Bengaluru, Chennai, Delhi, Dharamsala, Hyderabad, Kolkata, Lucknow, Mumbai, and Pune. The ICC highlighted the substantial direct investment from both the global governing body and the BCCI, along with stadium upgrades by state cricket associations, which delivered economic benefits to various Indian businesses across sectors.A record-breaking 1.25 million spectators attended the matches, with 75% of them attending a men’s 50-over World Cup match for the first time. The tournament also attracted a large international audience, with 19% of international attendees making their first-ever visit to India. This influx of foreign visitors contributed significantly to the economy, with international travellers spending USD 281.2 million, and the overall pan-India impact amounting to USD 253.9 million."A record-breaking 1.25 million spectators attended the ICC Men's Cricket World Cup 2023 of which nearly 75% were attending an ICC Men’s CWC 50-over match for the first time ever. Nearly 55% of the international respondents had previously visited India regularly, whilst an injection of new visitors thanks to the World Cup saw 19% of international attendees making their first ever visit to the country," the statement added.The ICC also revealed that over 48,000 full and part-time jobs were created as a result of the World Cup, not only through direct involvement in the tournament but also across industries such as hospitality. This sector alone contributed USD 18 million in economic value. Furthermore, media exposure for host cities, through city shots, team kit branding, and mentions, generated a media impact worth USD 70.7 million for businesses and stakeholders.Revenue from accommodation, travel, transportation, and food and beverage services brought in an additional USD 861.4 million.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Dharwad UniversityFOLLOW

Dharwad university, Latest News

The coronavirus outbreak shows no signs of abating, with ongoing concerns over emerging variants. The latest variant, XEC, is ... ...

British rock band Coldplay will return to India in 2025 after a nine-year hiatus. The globally acclaimed group has ... ...

Prime Minister Narendra Modi on Tuesday congratulated the Indian men's hockey team for their 1-0 victory over hosts China ... ...

India secured their fifth Asian Champions Trophy title with a hard-fought 1-0 victory against China on Tuesday. Jugraj Singh ... ...

New York [US], September 17: The Consulate General of India in New York has condemned the vandalism of the ... ...

Chennai (Tamil Nadu) [India], September 13: Team India gathered at Chennai's MA Chidambaram Stadium ahead of the first Test ... ...

Have you ever seen the world’s currencies in one glance? This year, a Nashik resident's home is turning heads ... ...

Dubai, Sep 11: The 2023 Cricket World Cup, hosted by India, had a significant economic impact of Rs 11,637 ... ...