Barbados was the biggest beneficiary in the Caribbean of the 2024 ICC Men’s T20 World Cup.
According to an independent Economic Impact Assessment conducted by the ICC and Nielson Sports, Barbados generated US$426.4 million from the tournament, which was held from June 1 to 29. The ninth edition of the tournament saw 20 teams compete in 55 matches across six venues in the Caribbean and the USA.
Barbados, which hosted group matches, as well as fixtures in the Super 8 and the final, outperformed St Vincent and the Grenadines (US$224.8 million), Saint Lucia (US$132.5 million), Antigua & Barbuda (US$114 million), Guyana (US$76.7 million) and Trinidad and Tobago (US$68.9 million).
The independent Economic Impact Assessment revealed that each host nation reaped substantial benefits, with almost every sector benefiting from the financial impact.
Speaking on the financial impact Cricket West Indies (CWI) President Dr Kishore Shallow said it brought “unparalleled success” to the region in generating US$1.66 billion.
It was the second time the West Indies hosted the prestigious competition, having previously done so in 2010.
In his address, Dr Shallow said the statistics showed the importance of sports to the region and the need for proper infrastructure and world-class facilities.
“No doubt this tournament was more than just a sporting event.
“It was a transformative moment for our region, solidifying the Caribbean’s position not only as the heartbeat of the world of cricket but also as a hub for economic growth, tourism and global investment,” said Dr Shallow, who was recently elected unopposed for his second consecutive term.
“The independent Economic Impact Assessment conducted by the ICC and Nielson Sports paints a compelling picture. This World Cup injected an astonishing US$1.66 billion into the economies of the host nations, directly benefitting businesses, workers and communities across the Caribbean.
“In an era where economic resilience is more critical than ever, this event served as a beacon of possibility, showcasing the power of sports, the power of cricket, to drive tangible, lasting economic progress,” he further added.
Dr Shallow disclosed that US$174.3 million was generated through accommodation; US$116.1 million was generated by food and beverage sales; retail and tourism generated US$133.7 million, and transportation and flights generated US$124.5 million.
Additionally, the multiplier effect was estimated at US$537.4 million generated in secondary spending, while future tourism impact was projected at US$36.6 million.
In total, 383 000 fans attended the tournament, according to Shallow, many of them international visitors experiencing the Caribbean for the first time. Dr Shallow said the time had come for countries in the region to look for alternative ways of attracting revenue and investments.
“For far too long, our economies have been over-reliant on traditional industries, and we have to seek avenues for diversification.
“This World Cup brought direct economic relief to thousands of people, with jobs created across multiple industries from hospitality and transportation workers to security personnel, media professionals, artisans and event staff, this tournament provided real employment and training opportunities for countless individual,” Dr Shallow said.
“As governments across the Caribbean focus on economic revitalisation and employment creation, this tournament has provided a blueprint for how sports can be leveraged as a strategic economic tool.”
“Cricket is not just something of great significance in our past; it is an economic and social force for our future.
“The Caribbean is open for business, investment, and global sporting partnerships.”
Dr Shallow added that beyond the financial impact, the ICC Men’s T20 World Cup reaffirmed the cultural and unifying power of cricket in the region.
(CMC/BT)
