Thursday, April 18, 2024

Republic Bank CPL creates US$24.5million economic impact on St Kitts & Nevis

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Photo Credit: Caribbean Premier League

The Republic Bank Caribbean Premier League created a total economic impact of US$24,590,766 for St Kitts & Nevis during the 2024 tournament. This is a 300% increase on the figure achieved from the last time St Kitts & Nevis hosted a single CPL cricket event in 2021

There were six matches at Warner Park, St Kitts from the 23 August to 27 August with all six CPL franchises taking part in games in the twin island Federation.

The total event impact, including the value generated for St Kitts & Nevis from the media value from the Federation being given extensive coverage on the CPL broadcast, was US$29,801,879.

The tournament filled 9,872 hotel room nights in St Kitts & Nevis, made up by CPL’s significant cohort which included players, coaches, administrators, TV and media crews, team owner groups, league and franchise event management teams, alongside overseas visitors who arrived to watch the games. A large part of the total economic impact figure stems from the money spent by these overseas visitors who spend time in St Kitts & Nevis during the event.

St Kitts & Nevis also benefited from the tournament being broadcast around the world with  CPL’s audience reaching  853.5million total viewers in 2023. As always, the tournament worked closely with the local tourism authorities to create world class content which highlighted the many activities that the Federation has to offer visitors. These exclusive features and vignettes were shown during the CPL matches further promoting the tourism message.

Hon Samal Duggins, St Kitts & Nevis Minister for Sports and The Creative Economy and Entertainment and The Arts, said: “As the Minister of Sports for St. Kitts & Nevis, I am both thrilled and proud to acknowledge the significant economic impact of the Republic Bank Caribbean Premier League (CPL). The partnership between our government and the CPL has proven instrumental in enhancing our sports infrastructure, boosting tourism, and creating job opportunities.

“Together, we are not only championing the growth of cricket but also fostering a sustainable future for our people, setting a benchmark for excellence in the Caribbean region. Their contribution has significantly elevated our profile on the global stage and we eagerly look forward to the continued success and growth of this partnership, as we continue to cement St. Kitts & Nevis as a premier destination for world-class cricket events.”

Pete Russell, Republic Bank CPL’s CEO, said: “We always enjoy the unique welcome that we get from St Kitts & Nevis with Warner Park being the home to some of the most famous moments in CPL history. It is pleasing to be able to deliver such fantastic news to the public in St Kitts & Nevis. We always strive to create a strong impact across the region and this is another fantastic set of results. Once again I would like to thank the government of St Kitts and Nevis for their continued and unstinting support and we can’t wait to return for the 2024 edition of CPL.”

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