India has experienced a tremendous surge in economic activity due to the 2023 Cricket World Cup. Although India lost in the final, the economic impact on the country has been staggering.
According to estimates, the total revenue generated from ticket sales alone at the Narendra Modi Stadium for the final match was around Rs 1,000 crore.
Additionally, hotels, restaurants, vendors, motorists, merchandise and T-shirt manufacturers, food delivery companies, and all related businesses collectively build wealth and contribute to the overwhelming economic phenomenon that occurs once every four years. is producing. This time, as India hosted all the matches, all the wealth circulated within the country.
Reliable economic research reports that OTT and TV streaming rights alone accumulated around 12,000 Cr, contributing to the tournament’s total revenue of around 23,000 Cr.
Flight tickets from various cities to Ahmedabad were priced between Rs 50,000 and Rs 70,000, while food and snacks inside the stadium were sold at four times the actual price.
Despite these high costs, Indians with deep pockets did not hesitate to buy plane tickets and tickets to the finals, even from the black market.
The official website sold tickets at prices ranging from Rs 35,000 to Rs 2,10,000, but the extent of black market involvement was not recorded.
Additionally, gambling activities took place across the country. This reflects the enthusiasm of the Indians and their affluence, which has turned the World Cup tournament into a blockbuster, with money flowing from their pockets into various businesses.
Almost every pub and restaurant in the country organized paid big-screen shows to attract packed crowds of young enthusiasts.
Domestic alcohol and food sales during this period were staggering. Even at home, we celebrated the entire season by ordering biryani, pizza, ice cream, and soft drinks through food delivery apps.
India has proven to be a strong host country for major sporting events, mainly cricket. Critics argue that the excitement may not match that of cricket, but there is no doubt that hosting the Olympics in India will be a major boost to the economy.
The Olympic host city has already been decided by 2032, but India may vie for hosting rights later on.