Spectators react in the crowd during the ICC Men’s Cricket World Cup India 2023 between India and Afghanistan at Arun Jaitley Stadium on October 11, 2023 in Delhi, India.
India is once again hosting the Cricket World Cup after more than a decade. This time, India will be hosting all 48 matches across 10 different cities, unlike in 2011 when it co-hosted the event with Bangladesh and Sri Lanka. Cricket is the world’s second-most watched sport, but in India, Bangladesh, Sri Lanka, and Pakistan, it’s the most popular sport, often considered “a way of life.”
The championship, which takes place from Oct. 5 to Nov. 19, is expected to have a positive impact on the country’s economy. The tournament is set to boost consumer spending in sectors such as hospitality, food and beverage, and media advertising.
The travel industry has already experienced a surge in demand for domestic and international flights to India before the World Cup even began. Flight searches to India increased significantly in the months leading up to the event. Additionally, there are 787 flights scheduled to Ahmedabad, where the final match will be held.
The hospitality industry in host cities has seen unprecedented growth, with hotel rates increasing significantly compared to the same period in previous years. Hotels in Pune and Ahmedabad experienced the most significant price hikes.
Food delivery services, restaurants, and mom-and-pop stores are also expected to benefit from the games. Increased consumption of alcoholic beverages is anticipated, especially during match screenings at home or in restaurants.
Media and advertising revenues are also projected to increase during the World Cup. Disney+ Hotstar, the digital broadcaster of all 48 matches, is expected to generate sponsorship and advertising revenues of $300 million. The ICC and the Board of Control for Cricket in India (BCCI) are set to receive a significant portion of the revenue.
Despite the expected economic benefits, the ticket sales for the matches have faced criticism. Many fans have expressed frustration with ticket sales mismanagement, resulting in empty seats at stadiums, especially during the opening games. This has led to concerns about the overall impact on economic activity linked to live attendance at matches.
Overall, the Cricket World Cup is anticipated to have a positive effect on various sectors in India, but challenges with ticket sales have dampened the potential impact.