FE Sports Desk
In its 12th edition, the 2019 Cricket World Cup is taking place in England and Wales for the fifth time. A total of 48 matches will be played in 11 venues across 10 cities, including London, Birmingham, Nottingham, Manchester and Cardiff.
According to a representative of the International Cricket Council (ICC), the recognised global governing body of cricket, the event could have a global television audience of 1.5 billion viewers.
Meanwhile, the ICC received over three million applications from 148 different countries for 800,000 tickets, which were made available over two ballot phases. With a further 50,000 tickets touted via general sale, in addition to corporate and hospitality tickets and tickets sold via tour and travel packages, the World Cup is set to be a sell-out event as demand overshadows supply almost four-fold.
Considering the global appeal of the World Cup, a successful tournament in terms of hosting excellence has the potential to enhance regional economies in England and Wales, primarily by way of tourism and hospitality, and cement the UK's status as a world-class venue for future events.
Based on match-day spending by domestic and international attendees, including on hospitality, food, drink and merchandise and expenditure on international travel, accommodation, and match day tickets, IBISWorld estimates that the United Kingdom could benefit from a £435.5 million economic boost by hosting the 2019 World Cup.
Tourism
The CWC will attract cricket fans from across the globe - according to the ICC, tickets were sold as far and wide as Madagascar and Mexico - meaning hotel chains, travel agencies, and airline operators will benefit from additional bookings. Typically, May, June and July are strong months for UK tourism - according to the Office for National Statistics, there were over 3.9 million overseas visits to the United Kingdom in July 2018 - and inbound tourism is likely to spike further as a direct result of the World Cup.
IBISWorld estimates that approximately 109,980 foreigners will travel to the United Kingdom to watch the tournament matches, pumping an additional £192.7 million of cash from outside of the United Kingdom into industries that provide accommodation and international travel services.
Meanwhile, of the nearly 490,000 unique UK-domiciled tournament attendees expected this summer, many will have planned short breaks away with friends and family to enjoy matches hosted in various parts of England and Wales. Accordingly, UK attendees, whether booking a two-night break in Manchester, spending a night in London, or organising a weekend trip to Cardiff, are expected to contribute an additional £28.1 million to the hotels industry, the holiday accommodation industry and other guesthouse proprietors' summertime income.
Hospitality
Aside from expenditure on accommodation and cross-border travel, general match day spending will burn a hole in the pockets of cricket fans. IBISWorld estimates that the total value of match day tickets sold to UK or international attendees, whether classed as general sale, corporate seating or otherwise, could rise to £52.3 million.
IBISWorld estimates that the World Cup could generate £162.4 million in hospitality revenue at match venues and additional revenue at local restaurants, pubs and bars.
Broader benefits: Tournament Legacy
Given that the ICC keeps broadcast and sponsorship revenue associated with the international broadcasting of the World Cup, and considering the England and Wales Cricket Board (ECB) keeps publications and ticket revenues, the economic benefit of CWC attendee expenditure and international viewership to some sectors is indirect, and often realised through the long term. For instance, the ICC and ECB has pledged to invest the income they earn from the World Cup back into the sport, providing grants to schools that wish to kick-start cricket-related programmes that engage with youths, and to cricket clubs that require new or upgraded facilities.
Moreover, business legacy from the World Cup's global exposure can support regional economies beyond the tournament. The World Cup provides an invaluable opportunity to showcase cities such as Bristol and Nottingham, which may not be as well-known internationally as London, on the global stage, and bring them to the attention of worldwide investors and potential visitors to the United Kingdom.
Gambling
While cricket is not traditionally a sport that attracts gamblers at a scale similar to football and horse racing, bookmakers tend to profit from an influx of punters attempting to predict the outcome of major international sporting events, like the World Cup. With bookies offering online betting, enhanced odds and evermore obscure bets such as the average speed of a particular player's bowling through a match.
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