Cricket World Cup May Add Rs 22,000 Cr to Indian Economy

New Delhi: The Cricket World Cup is expected to heighten India’s economy by as much as Rs 22,000 crore, profess economists at Bank of Baroda estimate.

The World Cup matches played across 10 cities in India will mostly benefit the travel as well as hospitality sectors, wrote economists Jahnavi Prabhakar and Aditi Gupta in a note on Wednesday.

The tournament will also support the central government coffers through increased tax collections on ticket sales, goods and services taxes on hotels, restaurants and food delivery, giving the country additional fiscal space.

The matches of the tournament will draw large numbers of visiting fans domestically and internationally. India is hosting the World Cup Cricket for the first time since 2011.

As this Cricket carnival also coincides with the Durga Puja and Diwali festive season, it can be beneficial for the retail sector as many people will make “sentimental purchases of cricket merchandise.

As per the economists, total Indian viewership for the tournament, including both on television and streaming platforms, may generate Rs 10,500 crore to Rs 12,000 crore in TV rights and sponsorship revenue.

But the World Cup has already started to bring in some inflation in airline tickets, hotel rentals, and service charges in the informal sector in the 10 host cities. The economists feel inflation may rise between 0.15%-0.25% for October and November.