IPL contributes Rs11.5 billion to India’s GDP: BCCI
IPL contributes Rs11.5 billion to India’s GDP: BCCI
Indian Premier League (IPL) 2015 made contribution of INR 11.5 billion (USD 182 million) to India’s GDP. In 2015, BCCI undertook an assessment of the economic impact generated by the hosting of the Indian Premier League (IPL) 2015 season on the economy of India. BCCI appointed KPMG Sports Advisory Group to undertake this survey, and informed about the outcome in a press release. IPL is an annual event with the 2015 season consisting of 8 franchises with 193 cricketers, 66 matches held in a span of 44 days. It had 13 host venues in 12 cities in the country with a total viewership of 1.71 million in stadiums itself. ALSO READ: Anurag Thakur: Asia Cup 2018 to be held in India, Asia Cup T20 2016 in Bangladesh
IPL matches have a direct affect on the economy of India in a variety of ways. Key stakeholders include the participating franchises, organizers and the spectators who contribute in various ways through employment and purchasing. The total economic output associated with IPL matches in India for 2015 is estimated to be around Rs 26.5 billion (USD 418 million). This is the aggregate value of all transactions that took place as a direct, indirect or induced effect of the economic activity of the 2015 matches. Hosting an IPL match also adds value and revenue to the economy of the state.
The 2015 season also saw around 20% growth in the number of attendees visiting from cities other than the host city most notably were the international visitors mainly from the United Kingdom, Australia and South Africa. According to the study done by KPMG it also highlighted the impact to India, beyond economic impacts that are generally measurable in financial terms. The key benefits and opportunities identified by KPMG were employment generation across sectors; tourism development to ensure India maintains its position on the global sporting map; support of tier 2 cities providing key media exposure and development of cricket and sport participation across India. ALSO READ: MS Dhoni may continue to play for Chennai-based IPL franchise
Chairman of the IPL, Mr. Rajeev Shukla said, “It is inspiring to know that IPL has had such a positive impact on India’s economy; the contribution of Rs 11.5 billion 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.”
Expressing happiness over this survey, Honorary Secretary of the BCCI, Mr. Anurag Thakur 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.”