Top 5 Stocks to Benefit from the Upcoming Cricket World Cup 2023
upcoming Cricket World Cup 2023 has been building up for some time. Fans across India are hoping that ‘conservative’ India can lift the trophy after 12 years on home soil. India triumphed over Sri Lanka in the 2011 Cricket World Cup.
The tournament will be held from 5 October 2023 to 19 November 2023 and played across 10 venues in Hyderabad, Ahmedabad, Dharamsala, Delhi, Chennai, Lucknow, Pune, Bengaluru, Mumbai, and Kolkata. To put things into context, the popularity of cricket in India is unmatched by any other country. India has the highest number of cricket fans.
> India - 535 million > China - 408 million (Yes, that's right. These many people have shown interest in cricket in China) > US - 63 million > Indonesia - 55 million > Brazil - 35 million With 2.5 billion estimated fans across countries, cricket is now the world's second-most popular sport after soccer (estimated 3.5 billion fans). From an investing perspective, there are a lot of Indian businesses set to gain from these upcoming World Cup matches.
We say this because the last time when World Cup was held in England four years ago, the International Cricket Council (ICC) claims that it generated almost ₹36 billion (bn) in the country’s economy. This was a result of visitors spending on hotel stays, airfares, among other consumer expenses. And we’ve already seen this happen in India in the past couple of months.
For instance, airfares have already shot up. A report states that economy-class tickets have gone up almost 3x in price on the day before high starring matches like India vs Pakistan. Meanwhile, hotel tariffs are giving visitors a headache.
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