Study says 2016 CPL poured US$15.4m into Guyana economy.
December 7,2016 Source
CASTRIES, St Lucia, CMC – This year’s Caribbean Premier League poured just over US$90 million into the Caribbean region, according to an Economic Impact Assessment released by organisers on Tuesday.
In a study carried out by United Kingdom-based research firm, SMG Insight/YouGov, the tournament which was staged from June 29 to August 7, generated US$102 million across all seven host venues.
Florida’s Central Broward Stadium was the only non-Caribbean venue used during the tournament as matches were held in the United States for the first time.
The new figures represents a considerable rise over last year when the tournament had an estimated economic impact of US$76.2 million overall.
St Kitts, which hosted four preliminary games from June 30 to July 5 and the playoffs and final from August 3-7, were the biggest recipients with US$22.7 million (EC$61.2 million) injected into its economy.
Organisers said the hosting of the games at Warner Park had a significant impact on job creation, hotel room stock along with general marketing of the destination.
“The investment by the CPL amounted to a 22 percent increase to $1 664 540, while the total visitors spend saw a 12 per cent increase from the 2015 season to $3 690 911,” the study said.
“The media value from the eight combined matches (factoring TV and digital brand exposure, tourism imagery and verbal mentions) jumped by 70 percent to $8 262 632. Hosting CPLT20 in the Federation created 240 local jobs and filled 3,899 hotel room nights.
“With a combined TV audience of 37 million for the four Patriots’ home matches and the Hero CPL finals, in all 35 124 fans attended matches at Warner Park during the 2016 season.”
Barbados, meanwhile, also enjoyed a bounce in its economy with nearly US$16 million (BDS$32 million) pumped into it.
The four games between July 11-17 at historic Kensington Oval, featuring the Barbados Tridents franchise, saw a total visitor spend of US$1.6 million.
The Barbados Tourist Board’s shirt sponsorship deal with the Tridents franchise managed to generate US$7.7 million in media value – representing a 128 per cent increase over the 2015 numbers.
“With a TV audience of 13.8 million for Tridents’ home matches, in all 24,730 fans attended matches in the Kensington Oval, Bridgetown during the 2016 season,” the EIA said.
CPL organisers also invested US$1.7 million – an increase of 22 per cent over last year.
Of the seven host venues for this year’s CPL, Barbados was only second to St Kitts and Nevis in terms of the economic impact.
Trinidad and Tobago benefited to the tune of US$14 million (TT$93.6 million) from the CPL though total visitor spending dropped 25 per cent over last year to US$2.9 million.
St Lucia, which witnessed St Lucia Zouks reaching the playoffs for the first time, saw US$10.8 million flowing into its economy with visitor spending and media value also rising significantly over last year.
“There was a substantial 36 per cent increase on the total visitor spend throughout the island while the media value and tourism board exposure increased by a staggering 107 per cent, helped by a shirt sponsorship deal with the St. Lucia Tourist Board,” the study said.
“Hosting CPLT20 in St. Lucia created 261 local jobs and filled 2,237 hotel room nights.”
Guyana’s four preliminary games saw US$15.4 million (GUY$3.1 billion) pumped into the economy, though visitor spending fell by four per cent while Jamaica benefited to the tune of US$11.1 million (JAM$1.4 billion).
Visitor spending rose 25 per cent to US$2.9 million for the Sabina Park games.
According to the EIA, CPL visitors spent US$20.4 million during the tournament, an increase of 31 per cent over last year while 248 856 fans attended the 34 matches.
The CPL is the region’s premier T20 championship and is contested by six franchises – the Tridents, St Kitts and Nevis Patriots, St Lucia Zouks, Guyana Amazon Warriors, Trinbago Knight Riders and Jamaica Tallawahs.
This year’s tournament was won by Tallawahs who defeated Amazon Warriors in the final.
