Friday 30 October, 2020

Hero CPL claims $25 million impact on T&T

The Hero Caribbean Premier League (CPL) said the tournament created an economic impact of over $25 million for Trinidad and Tobago.

A CPL release said the 2018 event, which took place between August 8 and September 16 last year, created a total economic impact of US$25,689,199 in the country.

"This represents an increase on the 2017 figure even with the tournament having two fewer matches in the country in 2018," CPL said in the release.

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 employed 254 staff in Trinidad and Tobago and filled 8,573 hotel rooms during the 2018 event. The value of media exposure and mentions of Trinidad and Tobago from this coverage was US$5,490,704, more than double that achieved in 2017. 

The Hero CPL spent US$4,069,867 in Trinidad and Tobago during the 2018 event with the tournament hosting seven matches in the country, a significant investment that shows the commitment to staging cricket at both Queen’s Park Oval and the Brian Lara Cricket Academy. 

Speaking about the report from SMG Insight the Hero CPL Chief Executive Officer, Damien O’Donohoe said: “Trinidad and Tobago has always been very good to us as a tournament, with local support being absolutely fantastic. It means a lot to us that we are able to deliver tangible economic benefits to the country. The finals for the 2018 tournament were fantastic and we can’t wait to be back in Trinidad and Tobago in 2019 to get the party started again.” 

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