By MyVueNews Staff-writer
Basseterre, St. Kitts, 16th January, 2018 (MyVueNews.com) – The Hero Caribbean Premier League (CPL) reported that the 2017 CPL T20 tournament generated over US$95 million in economic impact in the region.
According to the CPL information, the total economic impact was US$95,122,465 spread across six Caribbean Countries and the USA.
World-renowned researchers, SMG Insight, calculated the the impact based on organiser spend, visitor spend and media value.
Speaking about the report from SMG Insight the Hero CPL Chief Executive Officer, Damien O’Donohoe, said: “This is a really strong set of economic impact results for the region, and we are delighted with how we continue to grow as a tournament.”
He continued, “We are hugely proud of how much the Hero CPL puts back into the countries that we visit, and we are very grateful to the governments and fans that help us make that happen. While 2017 has been fantastic, we are firmly committed to increasing our economic impact in 2018.”
The Hero CPL directly involved 2710 local personnel in the seven countries where the tournament took place and filled 33,503 hotel rooms during the 2017 event, CPL organisers revealed.
Disclosed also was that the amount of money spent by visitors who came to watch Hero CPL matches increased 161 per cent since 2014.
Also reported was that the value for the seven tournament locations, in terms of media exposure was US$ 22,890,940, and the global audience for the tournament increased 12 per cent compared to those that watched the event in 2016.
The Hero CPL spent US$ 12,690,910 across the seven tournament locations, representing an 84 per cent increase from what was invested for the tournament in 2014.