Home Sports Hero CPL makes US$25M impact on T&T economy
The Hero Caribbean Premier League (CPL) recently announced the tournament’s economic impact for the twin island Republic of Trinidad & Tobago for 2018, created a total fiscal returns of US$25,689,199, a significant increase from 2017.
Hero CPL 6 bowled off from 8 August and ended 16 September last year and stats showed an increase on the 2017 figure even with the tournament having two fewer matches in the country in 2018. The figure has been calculated using organizer spend, visitor spend and media value and was collated for Hero CPL by world-renowned researchers, SMG Insight.
In addition to that economic impact figure the Hero CPL employed 254 staff in Trinidad & Tobago and filled 8,573 hotel rooms during the 2018 event. The value of media exposure and mentions of Trinidad & Tobago from this coverage was US$5,490,704, more than double that achieved in 2017.
The Hero CPL spent US$4,069,867 in Trinidad & Tobago during the 2018 event with the tournament hosting seven matches in the country, a significant investment that shows the commitment to staging cricket at both Queen’s Park Oval and the Brian Lara Cricket Academy.
Speaking about the report from SMG Insight the Hero CPL Chief Executive Officer, Damien O’Donohoe said: “Trinidad & Tobago has always been very good to us as a tournament, with local support being absolutely fantastic. It means a lot to us that we are able to deliver tangible economic benefits to the country. The finals for the 2018 tournament were fantastic and we can’t wait to be back in Trinidad & Tobago in 2019 to get the party started again.” He ended.