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Pepsi IPL's UAE-leg contributed INR 450 cr to the economics
24 Apr, 2015
Pepsi IPL's UAE-leg contributed INR 450 cr to the economics
24 Apr, 2015
MEDIA ADVISORY
15 days of Pepsi IPL 2014 contributed Rs. 450 cr (US$75m) to the economic activity in the UAE
In a study commissioned by the BCCI, KPMG’s Sports Advisory Group has concluded that the 20 matches of the Pepsi IPL 2014 season which were played in the UAE last April directly contributed ` 250 cr (US$41m) to the Gross Domestic Product (GDP) of the UAE. KPMG are a leading professional firm providing audit, tax and advisory services.
Taking account of the ripple effect, KPMG estimated that the matches generated an increase in the economic activity of the UAE of ` 450 cr (US$75m). One of the main drivers for this increase was the number of people who travelled to the UAE expressly for the Pepsi IPL matches.
The study also highlights the non-quantifiable impact of the matches on the UAE. The UAE’s reputation as a can-do host for major sporting events will have been enhanced by the success of the matches which were organized at only one month’s notice and which attracted a total attendance of over 250,000. There will also be a positive impact on the sport of cricket in the Emirates.
BCCI Honorary Secretary, Anurag Thakur, commented, “BCCI’s wish was to play as much as possible of the 2014 Pepsi IPL season at home. Once it was clear that we needed to shift the first 20 matches out of India, our team along with IMG, the Emirates Cricket Board and the three stadiums in the UAE worked tirelessly to relocate these matches to the UAE. It is staggering to think that the Pepsi IPL generated 5% of the total growth in the GDP of the UAE during that 15-day period.”
BCCI
