How ICC Tournament Hosting Countries Make Money: International Cricket Council (ICC) organizes many cricket tournaments. These include ICC World Cup, ICC Champions Trophy, ICC World Test Championship and ICC T20 World Cup. India will host the ICC ODI World Cup in 2023, West Indies and America will host the ICC T20 World Cup in 2024. London will host the final of the ICC World Test Championship in 2025. Similarly, the ICC Champions Trophy 2025 will be hosted by Pakistan, but India’s matches will be played in Dubai.
But do you know what impact any ICC tournament has on the economy of the host countries and how those countries earn by hosting these tournaments.
Big increase in tourism
Big events like the ICC Champions Trophy lead to a huge increase in the number of foreign tourists in the country. Cricket lovers from all over the world come to the host country to watch the tournament. These tourists not only spend on hotels, transportation and food, but also visit local culture and historical sites.
Recognition on the global stage
Events like the Champions Trophy provide an opportunity to the host country to present its culture, hospitality and heritage to the world. Media coverage and advertisements give the country a new identity on the global stage. This identity proves helpful in the long run in attracting foreign investment and promoting tourism.
Infrastructure improvement and investment
For such a big event, host countries have to invest heavily in stadiums, roads, transport networks and other facilities. New stadiums are built and old stadiums are renovated. The citizens of the country get its benefit even after the tournament.
employment opportunities
Events like Champions Trophy create many employment opportunities. The demand for workers increases in sectors like construction, hospitality, security, transportation and marketing. These jobs not only provide short-term employment to people but also improve their skills, which contributes to long-term economic growth.
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