One of the premier and hallmark events in the world, the Cricket World Cup, is scheduled to begin on October 5 and end on November 19.
One of the main economic benefits for the UK in 2019 was the 350 million euros that the
Cricket World Cup contributed to the country’s economy. That demonstrates the significant impact that cricket tourism has had on the host nations.
India is preparing to host the ICC World Cup 2023 this year, and it will be a huge economic boost because the World Cup will likely bring in millions of dollars from the tourism industry. England and Wales co-hosted the 2018 World Cup, and England finished first.
The source claims that an ICC employee conducted an analysis on the ground, and it claims that the 2019 World Cup had an additional economic impact of 350 million euros. However, some studies claim that holding a major event like the Cricket World Cup will result in fewer visitors.
The economic boost that comes from hosting the Cricket World Cup is its main advantage. Individuals from all over the world and all over the country mix, which attracts individuals to the tourist industry and causes them to go on excursions. Additionally, it helps increase the GDP so that individuals can exchange their money and make money.
However, live competition coverage provides a significant boost and makes some money. Worldwide, 1.5 billion people watched the 2019 ICC Cricket World Cup. Additionally, it expands world trade. However, the success of the World Cup does not necessarily depend on the economy of the nation hosting it. In the hospitality industry and more generally, visitors spend a lot of money.
With 26,000 applications received, Pakistan and India were the countries with the most fans in 2019.
Hence A report claimed that if the tournament is successful, it will also give a tremendous boost to the UK’s tourism sector; therefore, organising a marquee event like the Cricket World Cup will be a major benefit to the economy, but you also totally cannot relay. The 2011 Cricket World Cup had a positive impact on the black economy as well as urban development. When a store was close to the stadium, sales increased, employment increased, and business profits increased.
This year, during the 2023 IOC Cricket World Cup, the tourism industry in India will experience a significant uptick. Cricket tourism has grown over the past few years as a result of 20% of visitors travelling from other countries and 100% of games being sold out.
In addition to providing the chance to host a major event like Cricket World, the ICC also fosters ambition and helps the economy.
