Impact of the cricket world-cup on the Indian economy

Cricket and India

Though the Indian cricket team lost after all their efforts the impact they have created on our economy is something we need to discuss.

Most of the time the very first game of an Indian child would be cricket. The passion and interest in cricket in India have given many great players like Virat Kohli, MS Dhoni, Kapil Dev and the list goes on. The country has various forms of cricket apart from the recognized ones at the local level. There are different types of balls like the light tennis, red tennis, stumper ball, various forms of wickets the oil can, single stump, wall painted wicket and there is a whole different environment played in, sometimes in nets, indoors, open grounds and terraces. There is no hard and fast rule to play cricket on a particular dimensioned pitch or ground at the local level, the only thing that matters is the group, bat and ball, even street cricket is also a form of cricket played in India.

For the last 5 financial years, BCCI’s accumulated income has crossed the mark of 20 thousand crores. The minister of state for finance Pankaj Chaudhary shared a report to Rajya Sabha stating the whopping income of 27,411 crores in revenue. BCCI in the last five financial years has paid 4,298 crores in taxes which makes the BCCI the highest tax-paying cricket board and the richest cricket board. The Indian cricket team was scheduled to play 11 test matches, 29 ODI’s, 22 T20IS, the 2022 World Cup and the Asia Cup. One of the most renowned cricket T20 games The Indian Premier League (IPL) is played by both Indian and International players but each team shall have a mandatorily 7 Indian players and 4 foreign players are allowed. International cricket pauses during IPL season which shows how keen interest the IPL creates in cricket enthusiasts across the world.

A report by Kotak Securities estimates that around 13,500 crores would add up to the Indian economy because of the Cricket world Cup 2023.

In a country where cricket is a game every child knows to play have recently hosted the ICC Cricket World Cup 2023 which has boosted the Indian economy positively.

World-cup impact on various sectors.

Aviation sector:

Due to the increased demand for bookings to the host cities, there was an increase in flight fares. Indigo a leading player in Indian aviation has noted a 20% increase in bookings compared to the last year (i.e.; 2022) in October and November month to the host cities of the Cricket World Cup.

Hospitality:

Hotels and rooms in host cities have increased their prices to meet the bookings demand. According to a report Airbnb had a skyrocketing increase in searches for stay all over India, Ahmedabad being the top most searched for. There was a whopping 4000% increase in searches for the matches conducted in Narendra Modi Stadium.

The hotel room price had risen to such an extent during the world’s biggest rival match between India and Pakistan that the fans have opted to stay in the hospital for a night and get their whole body checkup and save money, rather than spending more on average stays. This shows how costly the stay prices went up and how affordable the rooms at the hospital are.

Food and Beverages:

According to the report by the Federation of Indian Chambers of Commerce and Industry (FICCI) the Cricket World Cup could boost retail sales to 2,500 crores. The report published by Kotak Securities expects income of around 1,500 crores could be generated during the Cricket World Cup 2023. Companies like Jubilant FoodWorks had seen a sudden increase in stock value during the World Cup season, similarly, Varun Beverages who was not in that good shape had seen a sudden increase in stock prices which shows the positive impact Worldcup has created on their company. The United Spirits had seen a pick up the stock prices during the World Cup season which shows how the World Cup has created its impact in various sectors.

Railways:

Nobody in the country wanted to miss their shot during the Cricket World Cup 2023, the exorbitant rise in flight fares has disappointed many cricket fans. But the news of IRCTC running a special train to Delhi-Ahmedabad has revamped enthusiasm among cricket enthusiasts and travel at reasonable rates. The train prices were such a cheap rate compared to Airfares, sleeper seats cost around Rs.620,1st AC seat at Rs. 3490 and 3 AC seats at Rs.1525.

Conclusion:

The loss in the finals broke many hearts, but the efforts the team had made to keep us entertained helped both, the audience who were there in the stadium and the economy was making a profit because of every single person who has shown interest in the Cricket World Cup 2023. Knowingly or unknowingly every one of us had created some or other impact on the Indian economy during the CWC 2023. Even a purchase of a water bottle or Maggie during your stay or watching a match might have created a great impact on the companies and the economy in the long run. Undoubtedly there might be increased sale of soft drinks across the country as soft drink along with popcorn goes well while we watch cricket matches. Advertisement revenue, each second during the break cost a lot which shows how much money might have been pumped during this event.

The impact to be measured is so big that the count never ends. Though India lost in the finals the impact they have created by their play on the Indian economy is unforgettable and we are thankful to everyone who took an active part and made this event successful.

References:

-By Advaith Dhanpal (02/08/2025)

Impact of the cricket world-cup on the Indian economy

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