More reports on: Economy - general

IPL 2015 contributed Rs1,150 crore to India's GDP, claims BCCI report

news
30 October 2015

IPL 2015 has contributed Rs1,150 crore ($182 million) to India's GDP, according to an assessment by the Board of Control of Cricket in India (BCCI) on the economic impact generated by the hosting of the Indian Premier League (IPL) 2015 season on the Indian economy.

BCCI had appointed KPMG Sports Advisory Group to undertake the survey.

IPL is an annual event with the 2015 season consisting of eight franchises with 193 world class cricketers, 60 matches over 44 match days, 13 host venues in 12 cities across the country and 1.71 million spectators at the venues.

IPL matches directly affect the economy of India in a variety of ways. With key stakeholder groups, including participating franchises, organisers and spectators contributing in various ways through employment and purchases.

The total economic output, or the aggregate value of all transactions - direct and indirect -  associated with IPL matches in India for 2015 is estimated at Rs2,650 crore ($418 million). Hosting an IPL match also adds value and revenue to the economy of the state, says the report.

The 2015 season, saw around 20 per cent of attendees visiting from cities other than the host city. Also, notable were international visitors, primarily from the United Kingdom, Australia and South Africa.

The study also highlighted the gains for India, other than economic benefits that are generally measurable in financial terms. The key benefits and opportunities identified include employment generation across sectors, increased flow of tourists, support for tier-2 cities providing key media exposure and development of cricket and sport participation across India.

 ''It is inspiring to know that IPL has had such a positive impact on India's economy; the contribution of Rs1,150 crore to India's GDP through a 60-day event is surely testament to the tournament's success. We look forward to redefine these benchmarks through the upcoming seasons of the IPL and empowering the nation's economy through our future endeavours,'' IPL chairman Rajeev Shukla said.

''KPMG's economic impact study highlighted not only IPL's significant contribution to India's GDP but also the positive effect on employment generation across various sectors, tourism development, upliftment of the tier 2 cities through media exposure and development of cricket and other sport participation across India,'' added BCCI honorary secretary Anurag Thakur.





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