The 2018 edition of the Hero Caribbean Premier League (CPL) continues to break records as the tournament’s total economic impact last season has spiked up by 34% increase compared to the previous year.
The seven host countries where the tournament stage their matches during the 2018 edition had their economic impact totalled and the results produced a whopping figure of US$127,355,010.
After 6 six years of overwhelming success, Hero CPL has shown that the 2018
edition was by far the most exciting and fiscally productive one to date; as it managed to break the US$100 million ceiling and could go on to make more strides economically as the editions persist.
In arriving at the monumental figure, the formula for the calculations included using organizer spends, visitor spend, as well as media value which was calculated for Hero CPL by world-renowned researchers SMG Insight.
In addition to that economic impact figure, the Hero CPL employed 1,942 local personnel across all seven tournament locations, and filled 37,037 hotel rooms during the 2018 event. The amount of money that was spent by visitors for Hero CPL rose again in 2018, reaching a total of US$24,735,209.
Setting another record by hitting the 200 million viewership mark for the first time, value for the seven locations with regards to media exposure equated to US$46,869,599, more than double the media value the tournament achieved in 2017.
The increase was in part due to the new broadcast deals with Star Sports in India and Sky Sports in the UK. Regarding the report from SMG Insight, the Hero CPL Chief Executive Officer Damien O’Donohoe said: “We set out to continue to have a positive impact on the Caribbean as one of our goals for the 2018 tournament, and to see a 34% increase from last year is fantastic news for both Hero CPL and the region. The tournament has shown amazing growth over the last six years, and is now a mainstay of the cricket calendar and a great way to showcase what the Caribbean has to offer. We plan for that to continue.”
