World Cup 2023: India Missed the Trophy, But Scored Big in Economic Gains – Here's How

The ICC Men's Cricket World Cup 2023 took place in 10 different cities throughout India from October 5 to November 19. The event had an amazing $1.39 billion economic impact on the country, according to a report provided by the International Cricket Council (ICC).

The successful hosting of the ICC Cricket World Cup in 2023 by India can be considered as a collective accomplishment of the whole nation. Even though the Men in Blue was not able to win the trophy, the competition changed the game both for the format and the economy of the country.

How Did World Cup Boost India’s Economy

The World Cup drew in 1.25 million spectators, with nearly 75% of them attending their first-ever 50-over match. International visitors spent a total of $861.4 million on things like accommodation, travel, transportation, and food.

It was not just the tickets and the food and accommodation in the host cities that generated revenue for the country. About 37% of the overall economic impact was made up of $515.7 million in secondary and incremental spending. Several foreign fans traveled to various tourist spots, boosting the local economy by $281.2 million.

With the help of the different industries involved in hosting the tournament, the event generated nearly 48,000 full- and part-time jobs and added $18 million to the economy.

The host cities and India received significant media attention through city shots, branding, and mentions, resulting in a $70.7 million media effect.

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Long-Term Impact of World Cup

The event is expected to have a long-term impact on the Indian Economy. As per the report, around 59% of international visitors said they are likely to return to India in the future, thus increasing the chance of a boost in the tourism sector of the country.

Additionally, 73% of local attendees felt that hosting the Cricket World Cup improved India's image. The event's overall impact across the country was calculated to be $253.9 million.

How was this Survey Conducted?

The Economic Impact Assessment for the ICC Men's Cricket World Cup 2023 was carried out by Nielsen. Data was provided by the ICC and BCCI, collected through online and in-person surveys with spectators. Nielsen used its own software to calculate the multiplier effect.

World Cup Host Cities in India

Ten major Indian cities were part of the World Cup 2023. These include Ahmedabad, Bengaluru, Chennai, Delhi, Dharamsala, Hyderabad, Kolkata, Lucknow, Mumbai, and Pune. 

Each city aided in the expansion of different industries, which in turn strengthened the national economy. This economic boost showed how holding a major international athletic event can help a country's finances.

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