India might make $2.6 billion from hosting the World Cup. India, which will host the ICC Men’s World Cup in 2023, is expected to profit handsomely financially from the competition, which is expected to bring in over 660 billion Pakistani rupees, or $2.6 billion. It is anticipated that this large increase in revenue will strengthen the Indian Cricket Board’s already robust financial standing.
Although India has co-hosted World Cups before, this is the first time it acts as the exclusive host, with 48 matches spread over ten cities. One of the main locations is Ahmedabad’s Narendra Modi Stadium, which has a record-breaking capacity of 132,000 spectators.
TV broadcasting rights are predicted to generate 360 billion Pakistani rupees, or the lion’s share of revenue. Ten competing teams, reporters, broadcasters, pundits, and foreign visitors have all flocked to India as a result of the competition.
A significant amount of revenue from the ICC’s 2017–2023 financial structure is earmarked for India, which stands to collect an extra $112 million over the previous model. Over the course of eight years, this comes to a total of $405 million. With an annual allotment of $12 to $15 million, Pakistan is anticipated to get $128 million.
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The present ICC financial model has come under fire for allegedly favouring India over other participating teams and failing to place a high priority on distributing cash fairly, which could have an impact on the cricketing futures of countries like Zimbabwe and the West Indies.
In addition to being a big sporting event, the ICC Cricket World Cup 2023 will have a huge positive economic impact on India, helping the country’s travel and hospitality, tourism, and economy.
There would be more money when both teams competed in the semifinals. He claimed that because Pakistan was responsible for a large portion of the earnings, he had urged the ICC to set aside $10 million for Pakistan; but, they had rejected the request.
India likewise receives the greatest benefit and share under the present ICC revenue arrangement. He claimed that the West Indies and Zimbabwe would suffer for their lack of World Cup participation and income share, which would negatively impact their cricket. It was his observation that the ICC’s financial model did not take into account the fair distribution of revenue from the World Cup.
