Tuesday, June 18, 2024

Hero CPL generates huge economic impact for Trinidad & Tobago

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Photo Credit: Caribbean Premier League

The 2022 Hero Caribbean Premier League (CPL) generated a huge economic impact for Trinidad & Tobago with eight matches taking place at two venues in September of last year. 

The total economic impact for Trinidad & Tobago for 2022 was $46,791,270, a 54% increase on the figure from the last time Hero CPL had matches with fans in the stadium in 2019.  

With Hero CPL once again creating jobs and income for local businesses, the tournament can be considered a huge success for Trinidad & Tobago and the region. 

The rise in the economic impact has, in part, been driven by the change to the tournament structure that now sees all six teams, TV production crew and tournament staff travelling around the region as one cohort, spending more time in each of the host countries. With more matches being played per host country, travelling fans are now offered even greater value to come and watch the Hero CPL and as a result there was a significant increase in international arrivals across the tournament in 2022.

This figure was generated by independent, world-renowned research company, YouGov Sport. This figure takes into account the total spent by Hero CPL to put on the 2022 event, the value of media exposure for the country from the broadcast of matches and the money spent with local business by those who travelled into Trinidad & Tobago for the tournament. 

The total viewership for the 2022 Hero CPL was a record 721.8million, a record for the tournament. This is the third successive year that the tournament has generated a viewership figure of over half a billion. 

The 2022 tournament saw a total of 11,731 hotel room nights filled, a 10% increase from the 2019 figure.

Pete Russell, Hero CPL’s CEO, said: “Trinidad & Tobago has been at the heart of Hero CPL since the tournament’s inception in 2013 and the support we have had from fans, businesses and the government continues to be hugely valuable to the tournament. It is pleasing to know that Hero CPL continues to make such a positive impact on the economy of Trinidad & Tobago and we look forward to being back there in 2023.” 

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