CPL

Republic Bank CPL creates record economic impact in Guyana

By Sports Desk March 21, 2024
Republic Bank CPL creates record economic impact in Guyana

The Republic Bank Caribbean Premier League (CPL) created a record total economic impact of US$101,683,135 for Guyana during the 2023 tournament.

 There were six regular season matches and four playoff matches in Guyana between the 13th and 24th September and the tournament concluded in front of a sell-out home crowd at the Providence Stadium with the Guyana Amazon Warriors claiming their first CPL title.

 The Economic impact study was compiled by World renowned research organisation, YouGov Sport who reported on the impact CPL had on the local economy. A lot of factors are taken into account, though the key economic drivers are organiser spend, visitor spend and media value for Guyana.

During the CPL window, the tournament was responsible for filling a record 23,217 hotel room nights in Guyana, made up by CPL’s significant cohort which included players, coaches, administrators, TV and media crews, team owner groups, league and franchise event management teams, alongside overseas visitors who arrived to watch the games. A large part of the total economic impact figure came from the money spent by these overseas visitors who spent a considerable amount of time in Guyana during the CPL matches, enjoying the many activities put on as part of the Cricket Carnival.

Guyana also benefited from the tournament being broadcast around the world with CPL’s total audience reaching 853.5million viewers. As always, the tournament worked closely with the local tourism authorities to create world class content which highlighted the fantastic eco-tourism opportunities that exist in this stunning country. These exclusive features and vignettes were shown during the CPL matches, further promoting the tourism message to a global audience.

Pete Russell, Republic Bank CPL’s CEO, said: “The conclusion of the 2023 tournament was certainly dramatic, as all eyes were on Guyana to see the Amazon Warriors claim their first CPL title. This was a fantastic moment for the country and it is extremely rewarding to have seen both the social and economic impact the tournament had in Guyana, with the figures released today confirming what we all felt during those memorable 11 days last September.

“Having the showpiece finale the Biggest Party in Sport in Guyana was certainly a huge success and these numbers show how sports tourism can leave a significant and lasting legacy.”

Kamrul Baksh, Director of the Guyana Tourism Authority, said: “The Caribbean Premier League (CPL) has been a game-changer for Guyana’s tourism industry. More specifically, since becoming the host nation of the CPL finals in 2022, Guyana’s visitor arrivals have significantly increased by 131% from 2022 to 2023. This is the highest number of visitors for September on record. In just two years, the rush of cricket fans and travellers from around the world has filled our hotels and restaurants and provided opportunities for local businesses to thrive. The CPL has not only brought exciting matches but has also displayed Guyana’s rich culture and natural beauty worldwide, reinforcing our status as a leading tourism destination. We aim to capitalise on this success, leveraging sports tourism to drive steady economic development.”

 

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« Massy Women's Caribbean Premier League sets new viewership record Barbados sees economic boost of US$40 million from CPL »

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