NEW DELHI: The International Cricket Council (ICC) released a report on Wednesday that stated that the 2023 ODI World Cup in India had a "economic impact" of USD 1.39 billion, with tourism being one of the main benefactors.
The mega-event staged in October and November of last year was allegedly the largest ODI World Cup ever, according to the Nielsen Economic Impact Assessment done for the ICC.
"The ICC Men's Cricket World Cup 2023 has demonstrated the significant economic power of cricket, generating economic benefit of USD 1.39 billion (Rs 11,637 crore) for India," ICC Chief Executive, Geoff Allardice said in a statement, as per PTI.
Australia won the trophy a record-extending sixth time, breaking India's winning streak in the competition.
"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," read an ICC statement.
"The secondary and incremental spends within the economy was a key driver, generating USD 515.7 million, which was approximately 37 per cent of the total impact."
The ICC did not, however, clarify whether the enormous amount mentioned in the report represents genuine revenue.
According to the research, approximately 75% of the record-breaking 1.25 million fans at the major event were seeing an ICC 50-over match for the first time.
"Nearly 55 per cent 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 per cent 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," read the statement from the governing body.
The event directly contributed to the creation of around 48,000 full- and part-time jobs in the hotel industry through the tournament and other related organizations, the report stated.
"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," Allardice said.
