CPL economic impact reaches US$127m

Thursday, January 17, 2019

Print this page Email A Friend!


KINGSTON, Jamaica — Organisers of the Hero Caribbean Premier League (CPL) say the economic impact of the tournament last year exceeded the US$100-million mark for the first time in the history of the competition.

According to a CPL statement, the total economic impact for the seven countries where the tournament had matches in 2018 was US$127,355,010, representing a 34 per cent increase over the previous year.

This figure has been arrived at using organiser spend, visitor spend and media value and was calculated for Hero CPL by world-renowned researchers, SMG Insight, the statement added.

Speaking about the report from SMG Insight the Hero CPL Chief Executive Officer, Damien O'Donohoe, said: “We set out to continue to have a positive impact on the Caribbean as one of our goals for the 2018 tournament and to see a 34 per cent increase from last year is fantastic news for both Hero CPL and the region. The tournament has shown amazing growth over the last six years and is now a mainstay of the cricket calendar and a great way to showcase what the Caribbean has to offer. We plan for that to continue.”

In addition to the economic impact figure, Hero CPL said it employed 1,942 local personnel across all seven tournament locations and filled 37,037 hotel rooms during the 2018 event.

It also said the amount of money that was spent by visitors for Hero CPL rose again in 2018, reaching a total of US$24,735,209.

Meanwhile, CPL disclosed that the value for the seven tournament locations in terms of media exposure was US$46,869,599, more than double the media value the tournament achieved in 2017. This increase was in part due to the new broadcast deals with Star Sports in India and Sky Sports in the UK, it said.


Now you can read the Jamaica Observer ePaper anytime, anywhere. The Jamaica Observer ePaper is available to you at home or at work, and is the same edition as the printed copy available at http://bit.ly/epaperlive


ADVERTISEMENT




POST A COMMENT

HOUSE RULES

1. We welcome reader comments on the top stories of the day. Some comments may be republished on the website or in the newspaper � email addresses will not be published.

2. Please understand that comments are moderated and it is not always possible to publish all that have been submitted. We will, however, try to publish comments that are representative of all received.

3. We ask that comments are civil and free of libellous or hateful material. Also please stick to the topic under discussion.

4. Please do not write in block capitals since this makes your comment hard to read.

5. Please don't use the comments to advertise. However, our advertising department can be more than accommodating if emailed: advertising@jamaicaobserver.com.

6. If readers wish to report offensive comments, suggest a correction or share a story then please email: community@jamaicaobserver.com.

7. Lastly, read our Terms and Conditions and Privacy Policy



comments powered by Disqus
ADVERTISEMENT

Poll

ADVERTISEMENT
ADVERTISEMENT

Today's Cartoon

Click image to view full size editorial cartoon
ADVERTISEMENT