Did you know, that the upcoming #CricketWorldCup could add Rs 1.6 billion to the Indian economy?
Saloni Doshi and Rishi Venkateswaran break down the math. #WorldCup2023
Read: https://bit.ly/3rprfed
Saloni Doshi and Rishi Venkateswaran break down the math. #WorldCup2023
Read: https://bit.ly/3rprfed
Category
🗞
NewsTranscript
00:00 How much do you think that match winning 6 by Dhoni is worth?
00:11 You can't ascribe a value to it because it is priceless, as was India's first World Cup
00:16 win in 28 years.
00:17 But with India hosting the World Cup again, we are all hoping that the men in blue win
00:22 their third cup.
00:23 For the Indian cricket team, the trophy is what's at stake.
00:26 But for the Indian economy, there's a lot more.
00:28 In fact, by our calculations, we estimate a spend of $1.6 billion over the course of
00:35 the 48 matches.
00:36 Let's break down this number for our viewers.
00:38 An estimated 25 lakh people will attend these matches.
00:41 Of these, 20% are expected to be international travellers, 40% are Indians from different
00:47 cities and the remaining 40% are hometown fans.
00:50 Now the average attendee will spend on stadium tickets, last mile travel and food, as well
00:55 as hotels and airfare if they're travelling in.
00:58 By our estimates, international and intercity attendees will likely spend an average of
01:02 Rs. 32,000 per match and local attendees will spend around Rs. 7,000 per match.
01:07 That totals to over Rs. 5,500 crores.
01:11 But let's not forget BCCI's Rs. 500 crore expenditure on revamping stadiums.
01:16 Also, since India has so much to offer by way of tourism, we estimate an additional
01:20 spend of Rs. 1,15,000 by each international attendee.
01:25 Add that to the total and we have generated a net revenue of Rs. 11,700 crore.
01:31 And if anything, these are conservative estimates.
01:33 We've added another 15% to the total to account for miscellaneous spends like merchandise
01:38 and the boost to local vendors.
01:40 And there you have it, a $1.6 billion impact of the World Cup.
01:45 That's the breakdown of our calculations.
01:47 What do you think?
01:48 Let us know on any one of our social media platforms.
01:51 And for more content like this, stay tuned to B2Prime.
01:53 Bye.
01:54 (upbeat music)