CPL

Hero CPL economic impact continues to grow - CPL

By January 17, 2019

The economic impact of the Caribbean Premier League reporting on the countries hosting matches continues to see steady growth, according to figures released by the CPL on Thursday.

In 2018, there was a 34 per cent increase over 2017, the CPL claimed in a statement.

“A total economic impact for the seven countries where the tournament had matches in 2018 was US$127,355,010, the first time that the tournament has had a positive economic impact in excess of US$100million,” the CPL said.

This figure has been arrived at using organiser spend, visitor spend and media value and was calculated for Hero CPL by world-renowned researchers, SMG Insight.

 “We set out to continue to have a positive impact on the Caribbean as one of our goals for the 2018 tournament and to see a 34 per cent increase from last year is fantastic news for both Hero CPL and the region,” said Hero CPL Chief Executive Officer, Damien O’Donohoe.

“The tournament has shown amazing growth over the last six years and is now a mainstay of the cricket calendar and a great way to showcase what the Caribbean has to offer. We plan for that to continue.”

In addition to that economic impact figure, the Hero CPL employed 1,942 local personnel across all seven tournament locations and filled 37,037 hotel rooms during the 2018 event. The amount of money spent by visitors for Hero CPL rose again in 2018, reaching a total of US$24,735,209.

The value for the seven tournament locations in terms of media exposure was US$46,869,599, more than double the media value the tournament achieved in 2017. This increase was in part due to the new broadcast deals with Star Sports in India and Sky Sports in the UK, the CPL said.

Leighton Levy

Leighton Levy is a journalist with 28 years’ experience covering crime, entertainment, and sports. He joined the staff at SportsMax.TV as a content editor two years ago and is enjoying the experience of developing sports content and new ideas. At SportsMax.tv he is pursuing his true passion - sports.

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