By Zainab Shafiq 
Cricket runs deep in the hearts of Indian fans, and the 13th edition of the ODI World Cup is about to unfold, marking India’s exclusive hosting of this prestigious tournament for the first time.
The Board of Control for Cricket in India (BCCI), the world’s wealthiest cricket board, has left no stone unturned in its quest to transform this event into a spectacle. The tournament commenced on Thursday, October 5, with defending champions England facing off against New Zealand in Ahmedabad, and the anticipation in the air was electric.
This World Cup not only promises to bring together some of the finest cricketers from around the world on Indian soil but also offers significant economic benefits to the host country. Economists from the Bank of Baroda estimate that this 10-team tournament could potentially boost India’s economy by a staggering 200 billion rupees ($2.4 billion). With fans flocking to India from all corners of the globe to support their favorite teams, the travel and hospitality sectors are expected to thrive during this period.
Economists Jahnavi Prabhakar and Aditi Gupta predict that the total viewership for the tournament in India will surpass the 552 million mark seen in 2019, encompassing both television and streaming platforms. A conservative estimate suggests that TV rights and sponsorship could generate a whopping revenue of Rs 10,500 crore to Rs 12,000 crore.
The timing of the ODI World Cup 2023 couldn’t be more opportune, coinciding with India’s festive season. Prabhakar and Gupta believe this will have a positive impact on the retail sector, leading to increased “sentimental purchases of merchandise.”
However, with this surge in economic activity, there may also be an uptick in service charges in the ten host cities, potentially causing a modest rise in inflation rates of 0.15 percent to 0.25 percent for the months of October and November. Already, prices for airline tickets and hotel rooms have witnessed substantial increases.
India embarks on its quest for World Cup glory in this marquee event with a clash against the five-time champions, Australia, on Sunday, October 8. As the cricketing world converges on India, the stage is set for a memorable tournament that promises thrilling cricket action and significant economic contributions to the host nation.
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