Tuesday, June 18, 2024

Economic impact of Hero CPL passes US$200million in 2022

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Photo Credit: Caribbean Premier League

The 2022 Hero Caribbean Premier League (CPL) generated a huge economic impact for the countries who hosted matches with a total figure of US$200,935,772, a 47% increase on the amount generated during the 2019 tournament, the last time the Hero CPL travelled around the region. 

The total direct economic impact on the region from Hero CPL 2022 was US$134,686,551 with an additional US$66,250,232 in sponsorship value as a result of the Hero CPL broadcast which was watched by over 700million viewers in 2022. 

The four countries who held Hero CPL matches were St Kitts & Nevis, Saint Lucia, Trinidad & Tobago and Guyana. St Kitts & Nevis also hosted the first running of the Massy Women’s CPL (WCPL) and the SKYEXCH 6IXTY. The tournament has created jobs and generated income in all of these countries as the Caribbean continues to be central to the success of the Hero CPL. 

The rise in 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 around the region for the tournament. 

The Hero CPL was responsible for filling 54,702 hotel nights across the region, with players, TV crew, CPL and franchise staff and other visitors all helping to generate further revenue for local businesses and suppliers. 

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. This increase in viewership gave even more exposure to host countries throughout the tournament, adding further value to hosting Hero CPL matches. 

Pete Russell, Hero CPL’s CEO, said: “The value that Hero CPL brings to host countries has been long established but for the economic impact of the tournament to pass US$200million for the first time is another milestone in the decade long history of the event. Hero CPL creates jobs, fills hotel rooms, boosts tourism and attracts visitors into host countries, both during the tournament and beyond. We are very excited to see this Caribbean product continue to grow its global reach while still hugely benefiting the region.” 

Pete Russell, CEO, Hero CPL on March 22, 2023

Photo Credit: Cricket NSW

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