In India, cricket is more than a sport; it's also a way of life. ICC Cricket World Cup 13 brought an electric atmosphere to Indian stadiums and homes after a 12-year absence. In addition to thrilling matches and fierce rivalries, the Indian economy is also fuelled by another game.

In addition to food delivery, quick commerce, alcoholic beverages, soft drinks, media, and online gaming, this event promises to boost the economy across a wide range of sectors. According to Chief Economist Madan Sabnavis, World Cup-related spending could boost economic output for the October-December period by Rs 18,000-20,000 crore.

Impact of the World Cup on the Economy

According to economists, the ICC Men's Cricket World Cup could inject a staggering $2.4 billion into India's economy. According to another report from BQ Prime, the economy will grow by about Rs 13,500 crore.

With 552 million viewers, the World Cup 2019 became one of the most-watched events in the history of Indian television. The India-Pakistan showdown drew an impressive 244 million viewers, according to BARC.

With home soil excitement, the stage is set for an even grander spectacle. A record number of viewers is expected across television and streaming platforms in 2020, according to economists. There is no doubt that broadcasters and sponsors will reap a handsome income from TV rights and sponsorships as a result of this anticipation.

Even so, the World Cup is more than just matches. It's an experience almost like a festival in India. There will be thousands of ardent cricket fans traveling by roads, skies, and rails to watch the action live. From a modest 500 rupees to an eye-popping Rs 40,000-50,000, they'll book accommodations, eat local cuisine, and secure coveted match tickets!

While those who cannot attend in person will watch matches online and snack on snacks, those who cannot attend in person will be glued to their screens. E-commerce and food delivery services are often used to procure snacks, cold drinks, and beer.

Impact on the Sports Industry

An impressive $1.8 billion is spent annually on sponsorships and media in India's sports industry. This largesse is largely directed at cricket Api, accounting for 85 percent of the total. Each year, $900 million is allocated to media spending for cricketing events, making up 8 percent of the country's advertising budget.

The estimated spend by brands this year is $240 million, with a 10-second ad costing up to INR 30 lakh. Unilever, Google Pay, Coca-Cola, and Google Pay are among the official sponsors.

Concerns about inflation

It is possible, however, that the World Cup may also have an impact on inflation. There have already been price hikes for airline tickets and hotel rentals during the tournament. Additionally, informal service charges may rise significantly in the ten host cities. For October and November, this could push inflation up by 0.15% to 0.25%.

Consumption increases

Additionally, consumption has increased over the past decade as more people now take home larger paychecks. In FY21, the number of people earning more than Rs 5 lakh has increased five times from 3.8 million to 18 million, according to a recent analysis by BNP Paribas.

Inflation is one of the downsides of higher consumption. As a result of the World Cup, hotel rooms and flights have become more expensive.

World Cup 2024: Stocks poised for growth

Taking a closer look at the historical market returns during previous World Cups will help us determine which stocks are likely to thrive during the ICC Cricket World Cup 2024 .

1. An impressive 71.9% return was achieved by the market in 2003.

2. 54.77% more people were employed in 2007 than in 2006.

3. It did, however, suffer a temporary setback with a dip of -24.62% in 2011.

4. There was a minor hiccup in 2015 when returns decreased by -4.06%.

5. During 2019, the markets rebounded, gaining 12.02%.

In 2024, the World Cup in India is poised to follow suit, and these numbers suggest significant market movements during World Cup seasons.

Ultimately, the ipl live score api and Worldcup is some of the most successful cricket leagues in the world because of their unique business model and Cricket Live Line API. A surge in advertising revenue has been attributed to the league's marketing efforts and efforts to attract new audiences. Cricket and sports leagues' business models have been revolutionized by the ipl live score api and Cricket Live Line API, proving that sports and business are compatible.

Conclusion

Indian hospitality, aviation, and food and beverage sectors all look to have excellent prospects as India hosts the ICC Cricket World Cup 2024. With operational efficiency and dominant market positions, companies like IRCTC, INDIGO, and IHCL will reap the rewards of this sporting extravaganza. Investors are well positioned to capitalize on the World Cup's economic impact since these companies have a track record of success in asset-intensive industries.

The ICC Cricket World Cup 2024 is not just a celebration of cricket; it's also a celebration of India's economic vitality, demonstrating its capacity to host a global sporting event while reaping significant economic benefits. Our attention won't just be drawn to boundaries and wickets, but also to the economic scorecard as the matches unfold.