India, the host for the ICC Men’s World Cup 2023, is set to reap substantial financial benefits, with the tournament projected to generate over 660 billion Pakistani rupees, equivalent to $2.6 billion. This significant revenue boost is expected to enhance the already prosperous financial assets of the Indian cricket board.
While India has previously co-hosted World Cups, this marks the first time it serves as the sole host, featuring 48 matches across ten cities. Ahmedabad's Narendra Modi Stadium, with a record-breaking capacity of 132,000 spectators, is one of the key venues.
The majority of revenue will come from TV broadcasting rights, with an estimated 360 billion Pakistani rupees expected from this source. The tournament has also brought an influx of foreign tourists, media, broadcasters, commentators, and ten competing teams to India.
The ICC's financial framework from 2017 to 2023 allocates a substantial portion of the revenue to India, which is set to gain an additional $112 million compared to the previous model. This amounts to a total of $405 million over eight years. Pakistan is expected to receive $128 million, with an annual allocation of $12 to $15 million.
The current ICC financial model has drawn criticism for favoring India and not prioritizing fair revenue distribution among participating teams, potentially affecting the cricketing prospects of nations like Zimbabwe and West Indies.
The ICC Cricket World Cup 2023 is not only a sports event but a major economic booster for India, significantly benefiting its economy, tourism, and hospitality sectors.
