Economic benefit of ICC Cricket World Cup for Australia and New Zealand revealed in financial analysis
World Cup biggest event since 2000 Olympics
The recent ICC Cricket World Cup was the biggest event Australia has hosted since the 2000 Olympic Games in Sydney, according to a report from financial analysts PricewaterhouseCoopers.
The findings of an economic impact and benefits analysis has revealed the tournament provided a significant economic boost for co-hosts Australia and New Zealand, generating more than AU$1.1 billion in direct spending and creating the equivalent of 8,320 full time jobs.
It was one of the biggest events in the history of both countries and bigger for Australia than the 2003 Rugby World Cup, the 2006 Commonwealth Games and the 2015 Asian Cup.
"This was the biggest event in Australia since the Sydney Olympics in 2000 and it has changed cricket in New Zealand forever,” said Cricket World Cup 2015 Chief Executive Officer John Harnden.
"The Cricket World Cup generated two million bed nights across the two countries and around $855 million in visitor spending which is great for the tourism industries of both countries.
"When you consider the TV audience of over 1.5 billion, saturation of coverage across all digital platforms and the mainstream media coverage of the event across the 14 Host Cities, the Cricket World Cup has not only showcased the best of Australia and New Zealand but has enhanced the tournament’s reputation as a major global driver for economic and community benefit."
Harnden says the $1.1 billion in direct spending - $785 million of which was generated in Australia - converted to an increase in gross domestic product of $460 million across the two countries.
The report also revealed the total attendance for the tournament exceeded 1 million people, almost 300,000 of which were unique international and interstate visitors.
Around half of the 300,000 unique visitors came from overseas, mostly from Asian countries.
Cricket Australia Executive General Manager Operations Mike McKenna said the tournament confirmed cricket's importance to the local economy.
"With a program of Test, ODI and T20 cricket every year, cricket contributes significantly to Australia’s economy,” Mr McKenna said.
“The success of the Cricket World Cup in attracting fans from diverse backgrounds and more than 145,000 international visitors has created a fantastic platform for similar or even greater success at the ICC World Twenty20 tournament which will be hosted here in 2020."
The full report can be viewed here