Indian Economy is affected by a lot of factors both positively and negatively. In all these factors, the ICC Cricket World Cup will also play a major role in the Indian Economy’s growth. People are interested in the World Cup as it is going to be organized in India which will bring a lot of positive impact on the economy and the country will be noticed even more. This article will share details about the Indian Economy impacted by the ICC World Cup 2023. So if you want to know more about it, keep reading with us.
How ICC Cricket World Cup 2023 Will Impact Indian Economy?
The tickets for the matches are being sold off at a fast speed. India is spending a lot of effort on the management of these matches. It is being said that the World Cup will benefit the country with a profit of $2.6 billion or Rs. 22,000 Crores. The main source of revenue is sponsorships and media. It is being said that the sponsorships have made a revenue of Rs. 1250 crores or $150 million dollars. If we talk about the per-second money earned by the Cricket World Cup, this can be up to $3600 per second coming from big businesses. ICC will be earning an estimated $600 million in the year 2023.
The World Cup will be going on till 19th November 2023 and will be organized in 10 Indian cities. As people are coming to watch the matches, there is a high sales record for the airlines and the industry is said to be earning almost double profits. Apart from that, there is growth in the hotel industry as people are staying there for 2-3 days at a minimum. The inflation will be 0.15% to 0.25% during this time. The tourism industry has also seen a boost.
ICC Cricket World Cup 2023 Upcoming India Matches
ICC Cricket World Cup 2023 has started this month and is organized by India. The matches are taking place in different parts of the country. Currently, Australia VS Netherlands is going on in Delhi. India will have its next match with England on 29th October 2023, Sunday in Lucknow starting from 2:00 pm. India won its previous match with New Zealand, which was organized on 22 October 2023, Sunday at Dharamshala. The match between India VS South Africa will be organized on 5th November in Kolkata. India VS Netherlands will be organized on 12th November 2023, Sunday in Bengaluru. The matches will have an impact on the Indian economy for sure. Let’s have a look at it.