ICC World Cup 2023 Generates Rs 11,637 Cr Economic Impact On India

Tourism, Hospitality, Retail, and Transportation Sectors Witness Boost

Event Brings in Foreign Exchange and Employment Opportunities

New Delhi, February 28, 2023: The recently concluded ICC World Cup 2023 has generated a substantial economic impact on India, amounting to Rs 11,637 crore, according to a report by the Confederation of Indian Industry (CII). The tournament, which took place across 10 cities in India, attracted a large number of domestic and international tourists, boosting the tourism, hospitality, and retail sectors. The report estimates that over 1 million tourists visited India during the World Cup, with each tourist spending an average of Rs 50,000. This influx of foreign visitors provided a significant boost to the tourism industry, which has been severely impacted by the COVID-19 pandemic. The hospitality sector also benefited from the increased demand for accommodation and food, with hotels and restaurants reporting high occupancy rates throughout the tournament. The World Cup also had a positive impact on the retail sector, with increased sales of souvenirs, apparel, and other merchandise related to the event. The tournament also generated significant employment opportunities, with an estimated 150,000 jobs created in various sectors, including hospitality, transportation, and security. "The ICC World Cup 2023 has been a major success for India, both economically and in terms of its impact on the country's image," said CII President T. V. Narendran. "The tournament has showcased India's ability to host major sporting events and has provided a much-needed boost to our economy." The government has welcomed the report's findings and said it will continue to support the development of the sports industry in India. "The ICC World Cup 2023 has demonstrated the power of sports to generate economic growth and create employment opportunities," said Sports Minister Anurag Thakur. "We will continue to invest in the development of sports infrastructure and promote sports tourism in India." The CII report recommends that the government should take steps to capitalize on the success of the World Cup and promote India as a destination for major sporting events. The report also suggests that the government should invest in the development of sports infrastructure and promote the participation of women and girls in sports. The ICC World Cup 2023 is the latest in a series of major sporting events that have been held in India in recent years, including the 2010 Commonwealth Games and the 2011 Cricket World Cup. These events have had a significant impact on the development of India's sports industry and have helped to position the country as a leading destination for international sporting events.