Cricket is more than just a sport in India; it’s a religion that binds millions of hearts. The excitement reaches its zenith with the onset of the 13th edition of the ODI World Cup, exclusively hosted by India for the first time.
The Board of Control for Cricket in India (BCCI), the world’s richest cricket board, has spared no effort to ensure this event becomes a spectacle. With teams from around the globe descending on Indian soil, the excitement in the air is palpable. The tournament starts with defending champions England taking on New Zealand in Ahmedabad.
Beyond the thrill of cricket, the ODI World Cup promises substantial economic benefits for India. Economists from the Bank of Baroda estimate that the 10-team tournament might boost the Indian economy by a staggering 200 billion rupees ($2.4 billion).
The World Cup is not just about cricket; it’s about the fans who travel from every corner of the world to support their favourite teams. This influx of international visitors significantly boosts the travel and hospitality sectors. Economists Jahnavi Prabhakar and Aditi Gupta note that this surge in tourism will undoubtedly benefit these industries.
The economists predict that the total viewership for the tournament in India will surpass the 552 million viewers seen in 2019, encompassing both television and streaming platforms. Such a massive viewership translates into substantial revenue, with TV rights and sponsorships estimated to generate between Rs 10,500 crore and Rs 12,000 crore.
The ODI World Cup coincides with the festive season in India. Prabhakar and Gupta believe this will lead to “sentimental purchases of merchandise,” boosting the retail sector. Cricket enthusiasts, eager to support their teams, often buy team merchandise, creating a surge in demand.
With the influx of visitors, service charges in the 10 host cities will likely surge. Additionally, inflation may rise between 0.15 per cent and 0.25 per cent for October and November. The prices of airline tickets and hotel rooms have significantly increased, reflecting the increased demand.
As the tournament unfolds, cricket enthusiasts across India eagerly await their team’s performance. India commences its campaign in the marquee event with a high-octane clash against the five-time champions, Australia, on Sunday, October 8.
