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Cricket World Cup: $2.4bn boost to Indian economy
The Business Guardian
|October 06, 2023
The Cricket World Cup might improve host nation India's GDP by up to 200 billion rupees ($2.4 billion). The quadrennial competition, which begins on Thursday and lasts through mid-November, is anticipated to draw a sizable number of spectators from both locally and abroad. The fact that the matches will be played in 10 cities would mostly benefit the travel and hospitality industries, according to economists Jahnavi Prabhakar and Aditi Gupta in a note published on Wednesday.
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The event, which is being hosted in India for the first time since 2011, also coincides with the three-month festive season that started in September and will be particularly beneficial for the retail sector as many people will make "sentimental purchases of merchandise," they added.
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