New Delhi: The Indian economy remained undefeated in the recently-concluded ICC World Cup, marching ahead till the very end, even though the men in blue lost the final to Australia on 19 November.
A survey by Mastercard Economics Institute (MEI) has shown that the Indian hospitality industry was the biggest gainer of the tournament, which the country hosted for the fourth time.
Cricket fans from across the world came to India to cheer their teams, Mastercard’s aggregated data showed. The ripple effect, the research institute said, was on small businesses, mom-and-pop stores, quick-service restaurants, hotels and restaurants in host cities as well as metros.
Restaurants saw a jump in spend of more than 300 percent for three matches: India vs Pakistan in Ahmedabad, India vs England in Lucknow and India vs Australia (finals) also in Ahmedabad.
Domestic spend on online food delivery saw a sharp increase of more than 100 percent on average vs a normal week in Ahmedabad, Delhi and Mumbai for the two matches played in Ahmedabad, the survey showed.
It also showed that hotels and restaurants in host cities — Ahmedabad, Lucknow, Delhi and Mumbai — saw an incremental spend of Rs 23 million on match days, marking a 36 percent increase compared to the same days of the week during non-game days. Both domestic and cross-border spending was taken into account for this assessment.
The rivalry of the neighbours was the most profitable for the Indian economy. Hosted in Ahmedabad, the India vs Pakistan match saw in-person restaurant spending, excluding fast food, increase by 400 percent in the city, said the survey.
Further, it found that tourist spending at quick-service restaurants surged by 40 percent in Ahmedabad, and domestic spend on online food delivery surged by nearly 300 percent in Ahmedabad and roughly 30 percent in Mumbai.
During the India vs England match in Lucknow, there was a growth in cross-border spending of more than 600 percent across hotels and restaurants in the city, stimulated by inbound tourists.
Domestic, in-person dining and hotel spend also increased by nearly 50 percent in the capital city of Uttar Pradesh.
In the run-up to and during the finals between India and Australia, Ahmedabad hotels saw an increased growth in spending by domestic travellers, up 52 percent. The number of foreign tourists, meanwhile, went up by 56 percent.
Food establishments also saw increased footfall with cross-border, in-person spend in restaurants surging by more than 100 percent and quick-service restaurants by more than 200 percent.