The 2023 Cricket World Cup might boost the Indian economy by $2.6 billion.

By Canadian Parvasi on 05/10/2023

The 2023 Cricket World Cup might boost the Indian economy by $2.6 billion.

Cricket/ Prince Garg

Additionally, the World Cup could increase prices and help the Indian government’s finances.

According to researchers at Bank of Baroda, the Cricket World Cup might increase India’s GDP by much to 220 billion rupees ($2.6 billion).

The quadrennial competition, which begins on Thursday and lasts through mid-November, is anticipated to draw a sizable number of spectators from both locally and abroad. The fact that the matches will be played in 10 cities would mostly benefit the travel and hospitality industries, according to economists Jahnavi Prabhakar and Aditi Gupta in a note published on Wednesday.

ive updates for the ICC World Cup 2023

Since many people will make “sentimental purchases of merchandise,” they noted, the event, which is being held in India for the first time since 2011, also falls within the three-month holiday season that began in September.

The economists anticipate much higher overall Indian viewing for the competition than the 552 million observed in 2019, encompassing both television and streaming platforms. On a “conservative basis,” that might bring in between 105 and 120 billion rupees in sponsorship and TV rights money.