GROS ISLET, St Lucia, CMC – For the first time in its six-year history, the total economic impact of the Caribbean Premier League has exceeded US$100 million, a 34 per cent increase over the previous 2017 season.
A report commissioned by CPL and compiled by researchers, SMG Insight, showed figures for the 2018 season of US$127,355,010, representing all seven countries in which matches were played.
Organizers hailed the impact of the Twenty20 league and said further growth was anticipated in coming years.
“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 per cent increase from last year is fantastic news for both Hero CPL and the region,” said chief executive officer, Damien O’Donohoe.
Amazing growth in 6 years
“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.”
Matches last year were played in Barbados, Trinidad and Tobago, Guyana, Jamaica, St Kitts, St Lucia and Florida in the United States.
Boosts employment and hotel accommodation
According to the report, the tournament was responsible for the employment for 1942 persons across the seven hosts nations, and also provided a boost for the accommodation sector with 37 037 rooms filled.
Visitors also spent more over the previous season, with spending reaching US$24 735 209.
The report estimated the value of media exposure across the seven host venues at US$46 869 599, more than double that of 2017.
“This increase was in part due to the new broadcast deals with Star Sports in India and Sky Sports in the UK,” a CPL statement said.
The seventh season of the CPL bowls off in August.