IPL 8 contributed Rs. 11.8 billion to India’s GDP

IPL 8 contributed Rs. 11.8 billion to India’s GDP: The 2015 Indian Premier League (IPL) contributed Rs.11.5 billion ($182 million) to India’s Gross Domestic Product (GDP), the Board of Control for Cricket in India (BCCI) said on Friday. As many as 193 cricketers took part in the tournament that attracted 1.71 million spectators at the venues, the BCCI statement added.

The total economic output associated with IPL matches in India for 2015 is estimated at Rs 26.5 billion (USD 418 million). This is the aggregate value of all transactions that took place as a direct, indirect or induced effect of the economic activity of the 2015 matches, the BCCI said. The observations are results of the survey conducted by top financial auditing firm KPMG on behalf of the BCCI.

According to the survey, the 2015 season saw around 20 per cent of attendees visiting from cities other than the host city. Also notable were international visitors primarily from the United Kingdom, Australia and South Africa. The study also highlighted the impact on the country beyond economic that are generally measurable in financial terms.

IPL matches directly affected the economy of India in a variety of ways, according to the survey. The key benefits and opportunities that arose were employment generation across sectors, tourism development, support of tier two cities providing key media exposure and development of cricket and sport participation across the country.

“It is inspiring to know that IPL has had such a positive impact on India’s economy; the contribution of INR 11.5 billion to India’s GDP through a 60-day event is surely testament to the tournament’s success. We look forward to redefine these benchmarks through the upcoming seasons of the IPL and empowering the nation’s economy through our future endeavours,” IPL chairman Rajeev Shukla said.

One major thing that has been pointed out by the experts in the last couple of seasons of the IPL is that it not only generates a lot of money but also it provides a good platform for the youngsters to showcase their talent and catch the eyes of the national selectors.