IPL is not only popular in India because of the entertainment it offers but also due to the impact it has on the Indian economy
Indians also love it because of the many impacts it has on Society.
Since the Board of Control for Cricket in India introduced the Indian Premier League (IPL) in 2008, Cricket in India has grown astronomically. Cricket has always been a larger-than-life sport in India, no doubt. However, one of the largest cricket fan bases in the world was made even bigger by the introduction of the novel IPL and its subsequent growth over the years.
The IPL Twenty20 format league is contested by ten teams drawn from different Indian states and cities. It is the most-attended cricket league globally and was ranked sixth in fan attendance among all major sports leagues globally. The fans of the IPL are die-hard and consistent, making the league followership sustainable for many years to come.
IPL is not just cricket; it combines cricket and intentional entertainment created to keep you glued to the league. With about 90% of global cricket fans domiciled in India, India will never be short of cricket fans.
Explained How Is the Indian Premier League Influencing The Society And IPL Impact On The Economy
Has the IPL Revolutionized Cricket?
The IPL has made quite an appreciable impact on world cricket. It has changed how Twenty20 cricket is played forever. Since the inception of the IPL, there has been a mindset shift in how cricket boards worldwide see the game. The IPL has shown them the raw potential and power of cricket.
Stakeholders of the game have realized that the game’s strength is all-encompassing and transcends just the money made from it. Despite a few obvious flaws, its merits cannot be overemphasized. The revolution of the game has resulted in many people betting on parimatch.in/en/cricket.
Does the IPL Have An Impact On the Indian Economy?
It’s not much of a question if the IPL has greatly impacted the Indian economy. It’s a question of the extent of the impact. The IPL’s tremendous impact is something that has been talked about over and over. Below are some aspects of the Indian economy impacted by the IPL.
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Tourism
Tourism is important to every country’s economy. Some countries’ GDP depends greatly on the number of foreigners who land on their shores yearly. The IPL has contributed greatly to India’s tourism industry. Cricket lovers come from the far corners of the world, like South Africa, Australia, and the UK, to catch a glimpse of the much-touted IPL.
According to a 2019 ranking done by the World Economic Forum, India was ranked 11th in the Asia Pacific region and 34th in the list of most attractive travel destinations worldwide. But, again, this was largely influenced by the IPL.
Also, a sizable number of foreign players in the IPL would naturally draw foreigners into India for the games. This has helped to boost the tourism industry in India.
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Job Creation
The IPL creates a lot of jobs that impact the Indian economy. The IPL teams need hundreds of staff to handle salient aspects of the games and activities during the season. Medical staff, security staff, domestic staff, stadium staff, and players’ staff are all needed. The spillover effect of this direct and indirect employment greatly boosts the economy and improves GDP.
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Corporate Social Responsibility
Giving back to Society is one thing well-established sports administrations do. Cricket and the IPL are no exception. Several clubs and organizations in the IPL have started and executed various social responsibility programs to give back to the people.
A good example is the Delhi Capitals starting an initiative just before IPL 2021, where they helped and supported low-income families across the city.
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Viewership
The IPL is about the 6th most-watched league in the world. Viewership of the games in season runs into about a quarter of a billion, making it such an attraction for advertisers.
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Tax Revenue
The tax revenue generated by the IPL for the government is no child’s play. Pre IPL, the cricket game was not categorized as a profit-generating venture, so the league paid no tax. However, with the advent of the IPL, which was designated as a commercial activity, it had to pay taxes.
Much of the team’s revenues are from lucrative ticket sales, adverts, broadcast rights, and sponsorship deals. Taxes accrued to the government through these are massive.
Conclusion
The IPL has contributed immensely to the Indian Society, economy, and social space. One of the most prominent impacts is the revolution of cricket, making it a more entertaining sport with larger followership. The introduction of the Premier League has given renewed hope to millions of Indians. Interest in the game has grown exponentially, with children playing cricket in all corners of the city and the suburbs. New jobs and opportunities have been opened up to a greater number of the Indian populace.
In the homestead, many parents encourage their children to embrace cricket while also getting informed about the game. India has been the cynosure of all cricket fans’ eyes the world over because of the massive attention brands have given to the game in India.
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