The Hero Caribbean Premier League (CPL) has announced the tournament’s economic impact for Guyana. The 2018 event, which took place between 8 August and 16 September last year, created a total economic impact of US$25,515,816 in the country, an 80% increase on the figure from 2017.
This figure has been calculated using organiser spend, visitor spend and media value and was collated for Hero CPL by world-renowned researchers, SMG Insight.
In addition to that economic impact figure the Hero CPL created 468 jobs in Guyana. Also, the tournament filled 7,654 hotel rooms during the event with even more focus on the country with a record seven matches taking place in Guyana in 2018.
There was significant value for Guyana in terms of the country being given exposure through the television broadcast of the event. There was a sizable increase from 2017 with the playoff games taking place in Guyana for the first time. The total media exposure for Guyana has been calculated at US$8.2million, more than double that of 2017.
The Hero CPL spent US$1.29million in Guyana during the 2018 event with over 43% of that figure going to local staff and suppliers. This organiser spend represents a significant increase from 2017 where CPL spent US$978,000.
Speaking about the report from SMG Insight the Hero CPL Chief Operating Officer, Pete Russell said: “Guyana represents such a huge part of what makes CPL special and the support that we got across a record seven games in the country was absolutely fantastic. There are few crowds anywhere in the world that are more vibrant than one at Providence for a CPL match, and we are so grateful to the Guyanese public. That we are able to make such a big impact on the local economy means so much to us.”