Cricket is dear to the hearts of Indian supporters. The 13th edition of the ODI World Cup will be entirely hosted by India for the first time after 12 thrilling editions.
The Board of Control for Cricket in India (BCCI), the richest cricket organization in the world, has done all possible to make the coveted event a sight to see. The atmosphere is electric as the event kicks off on Thursday, October 5, with defending champions England taking on New Zealand in Ahmedabad.
The World Cup will not only bring some of the best cricket players in the world to India, but it will also be financially advantageous for that nation. The 10-team event might help the host nation’s economy by up to 200 billion rupees ($2.4 billion), according to economists at the Bank of Baroda. According to a note from economists Jahnavi Prabhakar and Aditi Gupta, many fans from around the world would go to India to support their favorite teams, which will surely be good for the travel and hospitality industries.
The experts estimated that more than 552 million Indians would watch the event overall in 2019 on both streaming and television. On a conservative basis, huge revenues from TV rights and sponsorship might reach between Rs. 10,500 crore and Rs. 12,000 crore.
During the ODI World Cup in 2023, inflation could increase
The ODI World Cup 2023 will take place between October 5 and November 19, which is around India’s festive season. As a result, Prabhakar and Gupta believed, “sentimental purchases of merchandise” would increase, which would be advantageous for the retail sector.
According to analysts, service charge rates may increase significantly in the ten host cities and inflation may increase by 0.15 to 0.25 percentage points in October and November. Hotel accommodations and plane tickets are already significantly more expensive.
On Sunday, October 8, India will face the five-time champions Australia to start their campaign in the main event.
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