The Cricket World Cup will lead to an exceptional economic surge for the country: economists estimate that the tournament could inject as much as $2.4 billion into the Indian economy
4 October saw the start of the World Cricket Championship, a sport that is not among the most popular in Italy, but which in some parts of the world is considered almost a religion: and among those countries is India, the host country of the current competition. It will go on until 19 November, the day of the final to be played at the Narendra Modi Stadium, which can accommodate 132,000 spectators…
STAGGERING NUMBERS. According to estimates by economists at the Bank of Baroda, the tournament could inject as much as $2.4 billion into the Indian economy. The past edition of the tournament, in 2019, attracted an incredible number of viewers, with a collective viewing of 552 million, making it one of the most watched tournaments in the history of Indian television. In this regard, it is speculated that between television rights and sponsorship returns, the turnover could touch between 105 and 120 billion euros.
THE ECONOMIC IMPLICATIONS OF THE COMPETITION. The Cricket World Cup is not only a sporting competition, but a real celebration. Thousands of fans will travel across roads, skies and rails to watch the matches live. This entails booking accommodation, sampling local cuisines and buying valuable match tickets, which range from 500 rupees (about €5) to the far less modest amounts of 40,000-50,000 rupees (about €600). Even those who cannot attend in person will remain glued to the screens, contributing to the growing audience even away from the playing field.
The event will also have a positive impact on cross-sector companies such as beverage and food manufacturers: sharing the passion for sport with friends and family in front of the TV, sipping a drink and munching on a snack, is the order of the day.
INDIA AND CRICKET: A PERFECT MATCH. The passion of Indians for cricket is unparalleled, so much so that the discipline is an essential part of the national culture. With a population of over 1.3 billion people, cricket unites Indians in one shared enthusiasm. The country is home to some of the largest professional stadiums in the world and the national league, the Indian Premier League (IPL), attracts top international talent. So one of the most important events of the year for the entire East is underway.
SPONSORSHIP ABROAD, ON CHAINON IS POSSIBLE. The economic circle revolving around the Cricket World Cup shows how the sponsorship market takes on global and not just localised characteristics. On ChainOn, registered sporting entities can put their sponsorship offers on sale also abroad, thus becoming a significant showcase for companies looking for an international showcase in Italy.
