The bat and ball game, Cricket, took the world by a storm ever since it was introduced as a children’s game in the southeastern counties of England way back in 1597. However, in recent times, the most impactful form of Cricket came from India, where the Indian Premier League was first announced in 2008. Founded by the BCCI (Board of Control for Cricket in India), IPL features professional Twenty20 form of Cricket, which is much fast-paced than other more traditional variants. The contest is held annually during March or April in India, where eight teams each representing a different city of India competes to win the trophy.
There is no doubt that IPL, along with its star-studded appearances from major cricketing stars from all over the world and celebrities have made it one of the most followed contests across the globe. According to a study conducted by Duffer and Phelps, the brand value of IPL is 475 billion Indian Rupees, which roughly equals the US $6.7 billion. With such staggering numbers that are still continuing to rise over time, no doubt, IPL is putting many other rich leagues to have a run for their money. Let’s take a quick look at how impactful IPL has been to the Indian economy.
It all comes down to crunching huge numbers the likes of what the world has never seen before. India is by far the most populous democracy and the second-most populous country in the world. The figures are mind-blowing, to say the least. According to data collected by the BCCI, IPL contributed around 11.5 billion Indian Rupees to the GDP of India in 2015. That is equivalent to the US $182 million. Thanks to huge investments and unparalleled enthusiasm from die-hard fans, massive brand imagery, and many other factors, IPL is coming close to its comparisons to the likes of NBA in the USA and Premier League of the UK.
We all know that it simply doesn’t stop there with more than 32 international players partaking in the IPL, there is bound to be a lot of fan following that is bound to visit India during the league season. According to a study by Cox & Kings, one of the longest established travel companies, IPL causes a 30% increase in the number of travellers to India. Plus this tourist inflow is also observed not only in host cities but those as well that are located further away. Tourism in India is quite easily a multibillion industry. According to a report by the World Economic Forum, India is ranked 11th in the Asia Pacific Region and 62nd in the overall world’s most attractive destinations.
IPL has often been showcased as a driver of economic development in India, and surely there is more to what meets the eye. The job employment generated from companies, players, sporting associations, stakeholders, and upcoming athletes is commendable. Reports provided by Prakash Gupta, First Secretary at India’s UN Mission, submitted to UNGA (UN General Assembly) sessions for Peace and Development stated an economic value of $3.2 billion created by IPL alone. The sports equipment market also sees a massive boom with market size increasing to nearly 40 billion Indian Rupees.
It is definite that when the tourism industry flourishes, then there is a need to accommodate travellers and provide them with a place for their lodgings. Hotels and restaurants boom because there are more check-ins, and a lot of food is consumed in surplus than average days. Karan Anand, who is the Head of Relationships at Cox & King’s, stated that travellers booking rooms in the hotels along with other sightseeing options increased by 20%. Places that rise in demand as popular tourist destinations include Agra, Alibaug, Aurangabad, Chandigarh, and Jodhpur, to name a few. During the weekends’ Hotel occupancies rise up to 80% during match days, especially those that are city-specific.
People from all over the world visit India during the league season, and this brings in a lot of cultural diversity to the country. Hence a lot of social activities are bound to happen. Social media posts just keep rushing in. There is obviously a lot of dancing and merriment around the towns hosting the matches. People are all celebrating. Liquor stores are selling booze like crazy, and things are going pop before you can touch them. Foreign tourist arrivals by source country include Bangladesh, United States, the UK, Sri Lanka, Canada, Australia, and Germany, to name a few.
According to the economic times of India, IPL in 2019 broke all previous records when it came to viewership across the globe. On TV alone, IPL reached 462 million clocks and total watch time of 338 billion minutes during its 12th season. Star India, the official broadcaster of the Indian Premier League, reported that is garnered 18.6 million concurrent viewers during the finale in 2019. Furthermore, reports from the Economic Times of India show that IPL secured sponsorships worth $98.9 million from various companies, including Coca-Cola, Maruti Suzuki, MRF, PhonePe, and Cover Fox, to name a few.
There is no doubt that a sporting event as massive as IPL is an incredible booster to the economy of India. For the past 12 years, the Indian Premier League has shown no signs of slowing down, with each season bringing more fame and international acclaim. According to World Atlas, Cricket is indeed the second most popular game in the world, with nearly 2 billion fans, falling short of Soccer that has over 4 billion fans across the globe. There is no telling what the next season of IPL will bring when hopefully things return back to normal once the current pandemic of COVID-19 subsides down. Wishing you all the health in the world, stay safe, and BANZAI!
Author Bio: Claudia Jeffrey currently works as a Sr. Content Analyst at Crowd Writer. During her free time, she likes to go through popular life hacks and try them at home. She is also a Blogger at Dissertation Assistance, where students can acquire the best essay service from professionals specializing in their field of study.
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