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ICC Cricket World Cup 2023 benefits Indian economy: In the ICC ODI World Cup 2023 held on home ground, Rohit Sharma-led Team India won all the matches including the group stage and reached the final. However, India lost to Australia in the final. Of course, hosting the ICC ODI World Cup has benefited the Indian economy by an estimated Rs 11,590 crore ($139 million). The ICC itself has released a report on the huge financial impact it will have on the Indian economy.
The impact of last year's ICC ODI World Cup on various industry sectors has been assessed by the New York-based Nelson Agency. This assessment is based on data provided by the BCCI, the host of the ODI World Cup 2023, and the International Cricket Council. ICC Chief Executive Geoff Allardich said that the ICC Men's ODI World Cup demonstrates the enormous economic power of the game of cricket. India received an economic benefit of $ 139 million from this World Cup. Of course, the ICC report did not clarify whether the figures presented by them were actual income or not.
Tourism sector revenue increased by Rs 7,233 crore
According to the ICC report, the tourism sector in the cities hosting the ODI World Cup matches received an estimated Rs 7,233 crore (86.14 million dollars). The domestic and foreign tourists who came to watch the match spent on accommodation, food, tourism and transportation. Apart from this, the additional expenditure was $ 51.57 million (about Rs 4330 crore).
12.5 million viewers watched the World Cup
Last year, the ICC World Cup held on Indian soil was watched by a record-breaking 12.5 lakh spectators. Out of these, 75 percent spectators were those who reached the stadium for the first time in the first match of the ICC ODI World Cup. While 55 percent of the foreigners who came to watch the World Cup matches in India were those who regularly came to India to watch the matches. While 19 percent of the foreign fans were those who came to India for the first time to watch the ODI World Cup match.
Economic impact of foreigners worth Rs 2,361 crore
Last year, foreign tourists who came to India to watch the ICC World Cup visited various tourist destinations in the country. This had a positive economic impact of about Rs 2,361 crore ($28.12 crore) on the Indian economy. 68 percent of the tourists who visited India said that they would recommend their family and friends to visit India. This improved India's global image.
World Cup created over 48,000 jobs
The ICC ODI World Cup created more than 48,000 permanent or temporary employment opportunities. These employment opportunities were directly related to the World Cup. Apart from this, jobs were also created in other sectors including hospitality. This tournament created employment opportunities on a large scale and India emerged as a major tourist destination.