ST JOHN’S, Antigua, CMC – Cricket West Indies (CWI) president Dr Kishore Shallow stated the 2024 T20 World Cup, which the West Indies co-hosted, introduced “unparalleled success” to the area in producing US$1.66 billion.
The match, which was additionally co-hosted by the USA from June 1 to 29, was the ninth version. Twenty groups competed in 55 matches throughout six venues within the Caribbean and the USA.
It was the second time the West Indies hosted the celebrated competitors, having beforehand completed so in 2010.
Based on an unbiased Financial Impression Evaluation carried out by the ICC and Nielson Sports activities, nearly each sector benefited from the monetary impression.
Barbados, which hosted group matches, fixtures within the Tremendous 8, and the ultimate, generated US$426.4 million, adopted by St Vincent and the Grenadines (US$224.8 million), Saint Lucia (US$132.5 million), Antigua & Barbuda (US$114 million), Guyana (US$76.7 million), and Trinidad and Tobago (US$68.9 million).
In his deal with, Dr Shallow stated the statistics confirmed the significance of sports activities to the area and the necessity for correct infrastructure and world-class services.
“Little doubt this match was greater than only a sporting occasion.
“It was a transformative second for our area, solidifying the Caribbean’s place not solely because the heartbeat of the world of cricket but in addition as a hub for financial progress, tourism, and international funding,” Dr. Shallow, who was not too long ago elected unopposed for his second consecutive time period stated.
“The unbiased Financial Impression Evaluation carried out by the ICC and Nielson Sports activities paints a compelling image. This World Cup injected an astonishing US$1.66 billion into the economies of the host nations, straight benefitting companies, employees, and communities throughout the Caribbean.
“In an period the place financial resilience is extra essential than ever, this occasion served as a beacon of chance, showcasing the ability of sports activities, the ability of cricket, to drive tangible, lasting financial progress,” he added.
Dr Shallow disclosed that US$174.3 million was generated via lodging, US$116.1 million by meals and beverage gross sales, US$133.7 million by retail and tourism, and US$124.5 million by transportation and flights.
The multiplier impact was estimated at US$537.4 million generated in secondary spending, whereas future tourism impression was projected at US$36.6 million.
Dr Shallow stated the time had come for nations within the area to search for alternative routes of attracting income and investments.
“For a lot too lengthy, our economies have been over-reliant on conventional industries, and now we have to hunt avenues for diversification.
“This World Cup introduced direct financial aid to hundreds of individuals, with jobs created throughout a number of industries…”Dr Shallow stated.
“This match has supplied a blueprint for the way sports activities could be leveraged as a strategic financial instrument.”
