The 2023 ODI World Cup was a remarkable event for the Indian cricket team, despite the disappointment of losing in the final. Under Rohit Sharma’s leadership, the Indian squad performed admirably, leaving a strong impression. Off the field, the International Cricket Council (ICC) has highlighted the significant economic impact of the tournament on India.
According to an ICC report titled “ICC Men’s Cricket World Cup 2023 Delivers Economic Boost to India,” the event generated an impressive USD 1.39 billion in economic benefits, with tourism being a major beneficiary.
The Economic Impact Assessment by Nielsen for the ICC revealed that the World Cup, held from October to November 2023, was the largest ODI World Cup ever. Geoff Allardice, ICC Chief Executive, noted, “The ICC Men’s Cricket World Cup 2023 has demonstrated the substantial economic power of cricket, generating a total economic benefit of USD 1.39 billion (Rs 11,637 crore) for India.”
Australia defeated India to secure their sixth World Cup title, breaking India’s unbeaten streak. The influx of both domestic and international tourists significantly boosted revenue across host cities, contributing USD 861.4 million through various sectors such as accommodation, travel, transportation, and food and beverages.
The report also highlighted that secondary and additional spending within the economy amounted to USD 515.7 million, accounting for about 37 percent of the total economic impact. However, the ICC did not clarify whether this figure represents actual revenue.
A record 1.25 million spectators attended the tournament, with approximately 75 percent experiencing an ICC 50-over match for the first time. Of the international visitors, nearly 55 percent had previously traveled to India, while 19 percent were first-time visitors.
The influx of international tourists led to an economic impact of USD 281.2 million, with 68 percent of international attendees expressing a willingness to recommend India as a tourist destination. The event also resulted in the creation of over 48,000 jobs, both full-time and part-time, within the tournament’s delivery and the broader hospitality sector.
Allardice concluded, “The event not only created thousands of jobs but also highlighted India as a premier tourist destination, showing that ICC events not only captivate fans but also make a significant economic contribution to host nations.”
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