BCCI launched the Indian Premier League (IPL) in 2007, a T20 cricket tournament for men. The tournament gained huge popularity over the years. IPL has made a revolution to the ways cricket is played and commercialized the game. Moreover, this advanced T20 tournament has a huge Impact of IPL on Indian Economy. This tournament builds a platform for both domestic and international cricketers.

Understand the correlation between the IPL and the Indian Economy

IPL has a huge impact on different areas despite sports. Since its inception, the tournament made a great impact on the Indian Economy. Let’s learn about the areas where IPL has immense influence.

Travel and tourism

Indian economy largely depends on the tourism industry, and today, IPL has boosted the industry more. This tournament attracts cricket lovers from different parts of the world, and this leads many tourists across the world to enjoy ipl matches in India. Visits of International tourists in India to enjoy IPL cricket matches make large impact on hotel booking, flight booking, local transportation, etc. It helps to boost the Indian economy as it has influenced a lot of domestic as well as foreign tourism a lot.

More employment

Today, all can notice huge job vacancies in the hospitality, entertainment, tourism, and advertising sectors. The popularity of IPL has given rise to employment in different sectors, and ultimately, these created a huge impact on the Indian economy. Besides permanent employment, IPL has also created employment opportunities on a temporary basis. Many individuals get temporary job opportunities at cricket stadiums and cricket fields.

Advertising, entertainment, and sponsorship

IPL plays a great role in sponsorship and advertising. IPL has a huge fanbase, and it creates a vast impact on the advertising sector. Many companies find IPL to be one of the most advantageous platforms for promoting their products. This tournament allows many brands to become title sponsors. Once any brand becomes the title sponsor, its name is featured along with the official name of the tournament. This no doubt helps the company promote their product and also helps the country’s economic growth. Besides, every IPL team can get sponsorship from different brands. The brand names are displayed on the jerseys of the players of the particular team.

Development in the sports industry

The aim of launching the IPL tournament was to improve the sports industry in India. Today, the success of the indian premier league has led many investors to offer financial support to the sports industry in India. This financial support makes it easy to offer better infrastructure and training facilities to every sportsperson. Sony Entertainment Television made a huge investment of Rs 8200 crore and purchased the broadcast rights for 10 years.

Influence on the share market

The rise of IPL makes a deep connection between the cricket and the finance market. Every year, every new IPL season brings lots of sensation in the finance market. In the 2009 IPL season, there were 26% returns in the market. Share traders also hope that indian premier league 2024 will also have a massive influence in the stock market.

Boost to start-ups 

The success of IPL has also created great influence on the start-ups. New ventures always generate new vacancies, creative ideas and implement new technologies. Today, lots of start-ups are playing a vital role in India’s gdp. IPL is a great platform for the new businesses to promote their products. Some noticeable start-ups developed in recent time are My11Circle, Rupay, Dream11, ACKO, Six5Six, etc.

Impact of IPL on Indian Economy – Final Thought

Indian Premiere league has made a significant contribution to the Indian economy. The growth and success of IPL have impacted many industries widely. Tourism, sports, entertainment, media, and industries have enjoyed huge development in their sectors. The tournament also plays a vital role in the world economy besides the Indian economy.