Home / Breaking News / Huge economic benefits for T&T from CPL campaign — report

Huge economic benefits for T&T from CPL campaign — report

CMC — Trinidad and Tobago’s hosting of preliminary-round and play-off matches in the Caribbean Premier League has resulted in an economic impact of US$23.6 million, tournament organisers have said.

A study carried out by researchers SMG Insight, using organiser spend, visitor spend and media value, showed T&T benefitting to the tune of US$ 23, 625, 618 for the August 4 to September 9 Twenty20 tournament.

Queen’s Park Oval in Port of Spain staged five matches in the preliminaries early on in the tournament, while the newly constructed Brian Lara Stadium in Tarouba was the venue for the four play-off matches — including the final.

“Trinidad & Tobago has always been a huge part of Hero CPL, and staging the finals week in the country this year saw a massive increase in our spend compared to 2016,” said CPL chief Operations Officer Pete Russell.

“We are very proud to be making such a positive impact on the Trinidad & Tobago economy, and we are very grateful of the support we have got from the government and local population.”

According to SMG Insight’s report, the tournament had a direct impact on hotel room stock, filling 9,323 rooms.

Organisers spent US$4.4 million in T&T during the tournament, a 71 per cent increase in spending over the previous year.

Earlier this week, CPL organisers announced that Guyana had experienced a total economic impct of US$14.1 million, with 482 jobs created and 4,097 hotel rooms filled during the tournament.

Total brand exposure for the country was calculated at $3.2 million.

“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,” Russell said.

Guyana hosted four preliminary-round matches from August 17-22.

Last season’s CPL was the fifth edition of the tournament, with Trinbago Knight Riders emerging champions after beating first-time finalists St Kitts and Nevis Patriots in the championship game.

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