 "ICC Cricket World Cup 2023")
Sports tourism is set to get a lift due to the quadrennial Cricket World Cup starting on Thursday.
According to travel platform Booking.com, the official accommodation partner for all International Cricket Council (ICC) events, the Indian sports tourism market is valued at close to $37,646.3 million. A projected compound annual growth rate of 14.8 per cent from 2022 through 2032 puts it in a strong position to continue its strong growth trajectory.
Ahead of the ICC Cricket World Cup, the platform has seen a 15 per cent year-on-year growth in flight searches from cricketing nations to India with departures between October 1 and November 20, when the tournament ends.
“The top five cricketing nations visiting India are the UK, Australia, the Netherlands, New Zealand and Sri Lanka. Australia shows a 31 per cent increase in searches to India for departure dates in October as compared to September, while the UK shows a 10 per cent increase in searches to India for departures,” said Santosh Kumar, country manager, India, Sri Lanka, Maldives, and Indonesia at Booking.com.
“Cricket is a religion in this country and the world cup, which has come back to India after 12 years, has given a significant push to the travel industry. Such mega-sporting events have the power of stimulating local economies in the geographies that they are held,” said Kumar. “These events not only boost domestic travel but also have a significant impact on inbound traffic to the country,” he added.
Watching the top teams compete on the field is on the wish list for many. “Prominent matches across India are fuelling travel searches. Beyond the event itself, travellers are looking to explore what a city has to offer, potentially leading to extended stays and repeat visits,” Kumar added.
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According to Booking.com, Delhi, Mumbai, Bengaluru, Chennai, Kolkata, Hyderabad and Ahmedabad are among the top searched destinations. On specific match days such as the India vs Pakistan match on October 14, Ahmedabad is the second-highest searched destination, followed by Delhi.
The increased traffic has also led to a spike in hotel bookings and room tariffs in turn.
“The demand for accommodations has reached unprecedented levels, resulting in soaring room rates. On the match dates, the rates for 4/5-star hotels have surged by an astonishing 10-15 times. Even 3-star and lower-category hotels have witnessed a doubling of room rates,” said Bharatt Malik, senior vice-president, flights and hotel business, Yatra Online.
Airfares, too, have shot up, Malik added. “Airfares to the key destinations hosting matches have experienced a significant increase. We have witnessed a surge of 15 to 20 per cent in passenger traffic for flights,” he said.
Fast-moving consumer goods majors, too, have cashed in on the frenzy.
According to sources, Coca-Cola has sealed a sponsorship agreement worth Rs 150-160 crore, while HUL has signed one for Rs 200 crore.
“As much as 60 per cent ad spends in the country happen during the months of September to December. The world cup coinciding with the festival season is great timing for companies,” said Sajal Gupta, chief executive officer at Kiaos Marketing.
GAME ON
· Indian sports tourism market valued at $37 mn, projected to grow at a CAGR of 14.8% from 2022 to 2032
· Booking.com has seen 15% Y-o-Y growth in flight searches from cricketing nations to India with departures between Oct 1 and Nov 20, when the Cricket World Cup ends
· Australia shows 31% rise in searches to India for departure dates in Oct as against Sep, while the UK shows 10% rise, said Booking.com.
· Delhi, Mumbai, Bengaluru, Chennai, Kolkata, Hyderabad and Ahmedabad were among the top searched destinations on the platform
· On match dates, room rates at 4/5-star hotels have surged 10-15 times, said Yatra
· Airfares to the destinations hosting matches have jumped; Yatra has seen 15-20% surge in passenger traffic for flights
