The Republic Bank Caribbean Premier League (CPL) created a record total economic impact of US$ 101,683,135 for Guyana during the 2023 tournament.
That is equivalent to approximately $20,336,627,000 billion Guyana dollars.
Between September 13th and 24th, there were six regular-season matches and four playoff matches in Guyana. The tournament concluded in front of a sell-out home crowd at Providence Stadium, with the Guyana Amazon Warriors claiming their first CPL title.
The economic impact study was compiled by world-renowned research organization YouGov Sport, and reported on the impact CPL had on the local economy.
Many factors are taken into account, though the key economic drivers for Guyana are organiser spending, visitor spending, and media value.
During the CPL window, the tournament filled a record 23,217 hotel room nights in Guyana, made up by CPL’s significant cohort, which included players, coaches, administrators, TV and media crews, team owner groups, league and franchise event management teams, and overseas visitors who arrived to watch the games.
A large part of the total economic impact came from the money spent by these overseas visitors who stayed for a considerable time in Guyana during the CPL matches, enjoying the many activities put on as part of the Cricket Carnival.
Guyana also benefited from the tournament being broadcast worldwide, with CPL’s total audience reaching 853.5 million viewers.
As always, the tournament worked closely with the local tourism authorities to create world-class content highlighting the fantastic eco-tourism opportunities in this stunning country.
These exclusive features and vignettes were shown during the CPL matches, further promoting the tourism message to a global audience.
Republic Bank CPL’s CEO Pete Russell said: “The conclusion of the 2023 tournament was undoubtedly dramatic, as all eyes were on Guyana to see the Amazon Warriors claim their first CPL title.
This was a fantastic moment for the country, and it is extremely rewarding to have seen the tournament’s social and economic impact in Guyana. The figures released today confirm what we all felt during those memorable 11 days last September.
“Having the showpiece finale, the Biggest Party in Sport in Guyana, was certainly a huge success, and these numbers show how sports tourism can leave a significant and lasting legacy.”
Kamrul Baksh, Director of the Guyana Tourism Authority, said: “The Caribbean Premier League (CPL) has been a game-changer for Guyana’s tourism industry. More specifically, since becoming the host nation of the CPL finals in 2022, Guyana’s visitor arrivals have significantly increased by 131% from 2022 to 2023.
This is the highest number of visitors for September on record. In just two years, the rush of cricket fans and travellers worldwide has filled our hotels and restaurants and provided opportunities for local businesses to thrive.
The CPL has brought exciting matches and displayed Guyana’s rich culture and natural beauty worldwide, reinforcing our status as a leading tourism destination.
We aim to capitalise on this success, leveraging sports tourism to drive steady economic development.”
The 2024 Republic Bank Caribbean Premier League will occur from August 28 to October 6. The final will again take place in Guyana, and the National Stadium in Providence will host the conclusion of the men’s event for the third year.
The tournament plans to have matches in Antigua and Barbuda, Barbados, Guyana, St. Kitts and Nevis, St. Lucia and Trinidad and Tobago.
