India generated a substantial economic impact of USD 1.39 billion (INR 11,637 crores) by hosting the 2023 ICC Men’s Cricket World Cup, according to a report by the International Cricket Council (ICC).
The report emphasized the significant boost to India’s tourism industry during the event, with travel and hospitality sectors reaping major benefits.
Conducted by Nielsen, the Economic Impact Assessment highlighted that the tournament, held in October and November, was the largest-ever ODI World Cup. ICC Chief Executive Geoff Allardice described the event as a powerful demonstration of cricket’s economic influence.
Tourism was one of the biggest winners, contributing USD 861.4 million to the total economic impact. An additional USD 515.7 million was injected into the economy through secondary spending.
The report noted that visitors, both domestic and international, generated significant revenue through accommodation, travel, and dining, marking an impressive influx of tourists.
Australia won the tournament, breaking India’s unbeaten streak to claim a record-extending sixth World Cup. The tournament attracted 1.25 million spectators, with nearly 75% of attendees experiencing an ICC 50-over match for the first time.
International tourism also saw a considerable rise, with 19% of foreign attendees visiting India for the first time. This contributed USD 281.2 million to the economy. The report further stated that 68% of international visitors would recommend India as a travel destination.
In terms of employment, over 48,000 jobs were created during the event, showcasing the far-reaching benefits of hosting such large-scale international events.
ICC CEO, Geoff Allardice pointed out that the World Cup underscored India’s status as a premier tourist destination while driving significant economic growth.