The ICC Men's Cricket World Cup -
The
ICC Men's Cricket World Cup in India is set to start, and it will not only make
cricket fans happy but also boost the economy by around Rs 8000 crore. This is
especially significant because it coincides with the festive season.
According
to an analysis by Bank of Baroda's economic research, they've looked at two
different scenarios one cautious and one optimistic. In both scenarios, they
expect people to spend between Rs 18,000-22,000 crore during the World Cup.
According
to the report, the tentative expenditure under various heads are:
- Ticket sales Rs 1,600-2,200 crore;
- TV Rights/Sponsorships Rs10,500-12,000 crore;
- Team Spending Rs.150-250 crore;
- Foreign Tourists Rs 450-600 crore;
- Domestic Tourists Rs.150-250 crore;
- Gig Workers/Event Management Rs 750-1,000 crore;
- Merchandise Rs 100-200 crore;
- Spectator Expense Rs.300-500 crore;
- Screenings and Food Delivery Rs 4,000-5,000 crore.
This
spending is predicted to contribute around Rs 7000-8000 crore to the GDP during
the two-month tournament. The services sector, particularly tourism and
hospitality, will benefit the most from this event.
The
tournament lasts for 45 days and includes 48 matches with 10
teams participating. About 2.5 million people are expected to attend
the matches at the ten venues across India. Additionally, the total number of
people watching the World Cup, whether on TV or through streaming services, is
expected to be much higher than the 552 million Indian viewers in the 2019
World Cup. Many people from around the world are also expected to tune in to
watch this highly anticipated tournament from their homes.
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