The upcoming ICC cricket world cup will give a boost to the economy of Australia and New Zealand. The ICC Cricket World Cup is the premier One Day Championship. The tournament has changed a lot since its inception.
Colored clothing, huge sponsorships and sports tourism are only few of the benefits for the host countries. Last tournament was hosted and won by India. Australia has been the most successful team with four tournament wins.
Economic benefits of the Event
- Advertisement – This major tournament acts as an advertisement for the host. It helps to tell the world about the hospitality of the nation. This naturally results in attracting the tourists and eventual expansion of the tourism industry.
- Investments – The event work as the perfect place for investment in infrastructure. The best example is the Football world cup in Brazil which helped build the tottering infrastructure.
- Culture – The event will help show case the unique culture of the host nation and help the travel industry.
- Hotels – One of the major beneficiaries of major sports event is the hotel industry. There is a sudden increase in revenue.
- Sales – There is an increase in consumption of various articles like Television, cola and cricket equipments.
- Multi National Presence – The presence and active participation of companies like Nike, Adidas and cola giants have a positive effect on the economy.
Australian government has eased the visa rules for the international visitors across the country.
It will further the economy which is already growing at healthy rate. It is the best time to host the World Cup and I hope Australia wins.