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Cricket World Cup To Boost India's Economy By Staggering $2.6 Billion, Report Finds
Cricket World Cup To Boost India's Economy By Staggering $2.6 Billion, Report Finds
Sputnik India
Not just India, but its neighbouring countries, including Pakistan, Bangladesh, Sri Lanka, are really into cricket, and the World Cup is seen as a festival for cricket fans.
2023-10-05T17:38+0530
2023-10-05T17:38+0530
2023-10-05T17:38+0530
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The 2023 Cricket World Cup is estimated to bring India's economy a INR 22,000 crore ($2.6 billion) dividend, the Bank of Baroda announced on Thursday.The quadrennial tournament started today, Thursday 5 October, with a match between England and New Zealand in the Narendra Modi stadium in Ahmedabad in the state of Gujarat, and it will run until Sunday 19 November. This is the 13th World Cup and 48 matches will be played over 10 cities. As of now, most of the tickets to most of the venues are sold out.The hospitality sector will be the greatest beneficiary of the cricket matches, economists Jahnavi Prabhakar and Aditi Gupta wrote in a note on Wednesday.The countries which are competing in the World Cup are: India, England, Pakistan, Australia, South Africa, New Zealand, Bangladesh, Sri Lanka, Afghanistan and the Netherlands. The revenues from viewership alone is likely to be between INR 105 billion ($1.2 billion) and INR 120 billion ($1.4 billion), which will be generated by TV rights, advertisement, sponsorship revenue and also online streaming platforms.The total audience of the tournaments is likely to exceed 552 million, that being the audience which tuned in to the 2019 World Cup.
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Cricket World Cup To Boost India's Economy By Staggering $2.6 Billion, Report Finds
Deexa Khanduri
Sputnik correspondent
Not only India, but many of its neighbouring countries - including Pakistan, Bangladesh and Sri Lanka - regard the game of cricket with almost reverential fanaticism, and the World Cup is seen as a festival for all cricket fans in South Asia, reports have declared.
The 2023 Cricket World Cup is estimated to bring India's economy a INR 22,000 crore ($2.6 billion) dividend, the Bank of Baroda announced on Thursday.
The quadrennial tournament started today, Thursday 5 October, with a match between England and New Zealand in the Narendra Modi stadium in Ahmedabad in the state of Gujarat, and it will run until Sunday 19 November.
This is the 13th World Cup and 48 matches will be played over 10 cities. As of now, most of the tickets to most of the venues are sold out.
The hospitality sector will be the greatest beneficiary of the cricket matches,
economists Jahnavi Prabhakar and Aditi Gupta wrote in a note on Wednesday.
“The event, which is being hosted in India for the first time since 2011, also coincides with the three-month festive season that started in September and will be particularly beneficial for the retail sector as many people will make sentimental purchases of merchandise," the note stressed.
The countries which are competing in the World Cup are: India, England, Pakistan,
Australia,
South Africa, New Zealand, Bangladesh, Sri Lanka,
Afghanistan and the Netherlands.
The revenues from viewership alone is likely to be between INR 105 billion ($1.2 billion) and INR 120 billion ($1.4 billion), which will be generated by TV rights, advertisement, sponsorship revenue and also online streaming platforms.
The total audience of the tournaments is likely to exceed 552 million, that being the audience which tuned in to the 2019 World Cup.
