Hero CPL makes strong economic impact in Guyana
The Hero Caribbean Premier League (CPL) has announced the tournament’s economic impact for Guyana. The 2017 event, which took place between August 4 and September 9 last year, created a total economic impact of US$14,183,035 in the country.
This figure has been arrived at by using organiser spend, visitor spend and media value and was calculated for Hero CPL by world-renowned researchers, SMG Insight.
In addition to that economic impact figure the Hero CPL created 492 jobs in Guyana. The tournament also filled 4,097 hotel rooms during the event and broadcast matches played in Guyana to a cumulative TV audience of 19.1 million.
There was significant value for Guyana in terms of the country being given that coverage through the television broadcast of the event. The total brand exposure for Guyana has been calculated at US$3,294,323 with more than 37 hours coverage of the country across the tournament.
The Hero CPL spent just under US$1million in Guyana during the 2017 event with over 40% of that figure going to local staff and suppliers. The organiser spend represents a 17% increase from what Hero CPL invested in 2014.
Speaking about the report from SMG Insight the Hero CPL Chief Operations Officer, Pete Russell said: “Guyana is a hugely important market for Hero CPL and we are delighted to have such a strong set of figures to share with the country. We know that we will continue to see excellent numbers from Guyana, a country that loves its cricket and has been so supportive of Hero CPL over the years.” (CPL)