IPL is not just a cricket league competition anymore. With its constant success stories one after the other seasons, it has attracted investors from all corners of the globe. IPL has been the most-watched cricket league in the world. It has been a constant contributor to India’s GDP. Conceived in 2008, under the banner of BCCI (Board of Control for Cricket in India), the IPL has been a game-changer in the Indian sport’s dynamic. It has an electrifying American football style format of hiring and auctioning players for team bought by many high net-worth businessmen, celebrities and other entities.
First and foremost in its contribution is the yearly rise in ticket sales. Unprecedented numbers of people turn up year after year to attend the hyped IPL games supporting their favorite teams and celebrities. After that, the most important benefits and opportunities come up in employment generation across multiple sectors and increases tourism in the cities the games are played at. Because of its franchisee format, it also provides a massive boost to the advertisement and manufacturing industry because of all the merchandise and promotions that happen over the entire period of the matches.
The positive impact of IPL on Indian Economy
Boosting the organized and unorganized sectors
Indian Premier League is a major income generator and contributor for employed and ipl bookies in organized and unorganized sectors. We as ardent fans of the sport wish our favorite teams and players to win. There are many other team members who deserve appreciation and recognition. These members slog day and night but we might not see them in the front end. Victory of each cricketer is dependent on a team of committed coaches, dieticians, physiotherapists, and masseurs. Management facilities like Sports Administration, Broadcasting, Marketing, Analytics, Planning and Risk Management require a strong network of skilled people. Hundreds of people operate small businesses and sell flags, caps, wristbands, placards and hair bands. Coupled with an interesting range of beverages and snacks, these small vendors add fun and refreshment to the sport. Such enterprising activities are necessary in a developing world.
Educational Jobs and Business Opportunities
A variety of sports in addition to the Cricket, Badminton, Football and Kabbadi leagues cultivate a sports culture. The enthusiasm and spirit of competition creates excitement and greater participation. The state of the art infrastructure is a sight to witness. Mega-events like the IPL T20 matches promote tourism and hospitality. The allied industry, which includes Graphics, Animation, and Analytics comprises the equipped skilled workforce. Opportunities are galore for small vendors on the lookout for seasonal revenue. It has given a leap to entrepreneurial ventures in the field of sports. Therefore, IPL will always be BCCI’s cash machine and India’s moneymaker.
Advertising and Marketing Agencies
During IPL, a lot of branding activities take place to ensure greater coverage and promotion. Budding companies consider IPL as the perfect platform to advertise their brand and boost sales. Revenues earned from these broadcasting channels and advertisements are channelized resourcefully. Ticket sales are also being outsourced to many new avenues like Café Coffee Day, Reliance, Book my show.
Tourism and Travel
IPL has given a new international fan following to the earlier nascent tourism in India. The touristic aspects of the cities and nearby locations attract investors to invest capital in a city. Travelers now plan trips in a way by which they combine IPL matches with an energizing holiday experience. India can harness the focused approach in sports tourism, given that several games inclusive of cricket are widespread here. Hotel occupancy also boosts with the onset of IPL matches.
IPL – The richest sporting league worldwide
For more than a decade, the IPL has been pumping up the economy of India with huge amounts of domestic and international funds invested in marketing for publicity. As the IPL also engages international players, it has a huge international fan base as well, especially countries such as the United Kingdom, Australia, South Africa, and the West Indies. It has therefore also attracted lots of foreign investors and has given a massive boost to India’s GDP.
The IPL is expanding its reach every year with the inception of new ideas to keep the excitement and interest alive and high. Riding on a back of 700 million-plus viewership and cricket fans, broadcast rights of IPL are worth more than any cricket league around the world. IPL continues to provide temporary and permanent forms of employment. The international followership because of the promotions made by famous celebrities goes a long way in giving this sport a global recognition.