ICC Men’s Cricket World Cup 2023 brings huge economic gains for India

The ICC Men’s Cricket World Cup 2023 has had a huge economic impact on India, generating an impressive USD1.39 billion (INR 11,637 Crores), according to a new report from the International Cricket Council (ICC). The tournament, held between October 5 and November 19, 2023, across 10 cities in India, played a significant role in boosting various sectors of the economy.

The cities that hosted the matches—Ahmedabad, Bengaluru, Chennai, Delhi, Dharamsala, Hyderabad, Kolkata, Lucknow, Mumbai, and Pune—saw a rise in tourism and business, with direct investments from both the ICC and the Board of Control for Cricket in India (BCCI). The stadium upgrades further benefited local businesses.

Tourism alone contributed USD861.4 million to the economy, with fans from both India and abroad flocking to attend matches. This included spending on accommodation, food, travel, and transportation. The overall spending from tourists resulted in an additional USD515.7 million, accounting for 37% of the total economic impact.

The event attracted a record 1.25 million spectators, with nearly 75% of them attending an ICC Men’s Cricket World Cup match for the first time. International visitors played a big role in this surge, with 19% of foreign fans visiting India for the first time. Many of these tourists explored other destinations in India, contributing USD281.2 million to the economy.

The World Cup also left a lasting impression, with 68% of international attendees stating they would recommend India as a tourist destination to friends and family. Most foreign visitors stayed in India for more than five nights, while domestic fans spent an average of two nights in host cities.

The report revealed that 73% of local attendees believed hosting the World Cup reflected positively on India’s global image. The event’s nationwide impact, beyond the host cities, amounted to USD253.9 million.

In addition to boosting tourism, the tournament created over 48,000 full-time and part-time jobs, particularly in hospitality, adding another USD18 million to the economy. Furthermore, media coverage of the host cities and the tournament added USD70.7 million in media value.

Looking beyond the tournament, 59% of international fans said they were likely to visit India again, proving that the World Cup has helped establish India as a top destination for international sporting events.

ICC Chief Executive, Geoff Allardice said: "The ICC Men's Cricket World Cup 2023 has demonstrated the significant economic power of cricket, generating economic benefit of USD1.39 billion for India. 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."