ICC releases 2023 ODI World Cup economic impact report; more than INR 11,000 crore overall economic benefit

Hyderabad: The International Cricket Council (ICC) released a report on the economic impact the ICC 2023 ODI World Cup had in India. According to the report, the ODI World Cup created an economic impact of USD 1.39 billion (INR 11,637 crore) and the cricket board termed it as the biggest-ever ODI World Cup.

The economic impact assessment was conducted by Nielsen, a global leader in data and analytics.

ICC chief executive Geoff Allardic said the World Cup in 2023 demonstrated a significant economic power for the sport. “The ICC Men’s Cricket World Cup 2023 has demonstrated the significant economic power of cricket, generating an economic benefit of USD 1.39 billion (INR 11,637 crore) for India,” Allardice said in a statement, quoting the Nielsen report.

The statement gave an insight on the impact the World Cup had on tourism. “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 statement added.

The report added that 1.25 million spectators attended the ICC World Cup 2023, a record for the tournament. It further broke down the numbers and said almost 75% of the 1.25 million spectators attended an ODI for the first time.

The report said tourism in India grew and 19% of international fans at the World Cup visited India for the first time. “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. International travellers visited multiple tourist destinations during their stay which amounted to an economic impact of USD 281.2 million and nearly 68% 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,” ICC said.

With respect to jobs the World Cup had created, the ICC, quoting the report, said close to 48,000 jobs were created. “Over 48,000 full and part time jobs were created by the event through direct involvement in delivering the tournament, as well as other organisations across the hospitality sector. 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,” the ICC’s statement added.