Cricket West Indies (CWI) President Dr Kishore Shallow has revealed that the ICC Menโs T20 World Cup 2024, co-hosted by the West Indies and the United States, generated a staggering US$1.66 billion in economic impact for the Caribbean regionโan unprecedented return that he says underscores the economic power of sport and the urgent need for greater investment in infrastructure across the region.
โIt was a good vibes,โ Dr Shallow said in his address, borrowing a phrase from his native St. Vincent and the Grenadines. โThis tournament was more than just a sporting event. It was a transformative moment for our region, solidifying the Caribbeanโs position not only as the heartbeat of world cricket but also as a hub for economic growth, tourism and global investment.โ
According to an independent Economic Impact Assessment conducted by the ICC and Nielson Sports, the financial windfall touched nearly every corner of the Caribbean, with each host nation reaping substantial benefits:
Barbados led the way with US$426.4 million
St Vincent and the Grenadines followed with US$224.8 million
St Lucia brought in US$132.5 million
Antigua and Barbuda recorded US$114 million
Guyana earned US$76.7 million
Trinidad and Tobago posted US$68.9 million
โThese figures are not just statistics,โ Shallow emphasized. โThey represent real income for families, real opportunities for entrepreneurs, and real investments in our tourism infrastructure.โ
Shallow went further, detailing how this economic activity was spread across various sectors, directly benefiting hotels, restaurants, transportation services, retail outlets, and cultural industries:
Accommodation spending totalled US$174.3 million, with hotels, guesthouses, and Airbnbs reporting high occupancy rates.
Food and beverage sales generated US$116.1 million, boosting local restaurants and stimulating agriculture.
Retail and tourism spending accounted for US$133.7 million, enhancing commerce and supporting local shops and vendors.
Local transportation and flight bookings were valued at US$124.5 million, strengthening regional travel networks.
Future tourism impact was projected at US$36.6 million, as thousands of international fans expressed interest in returning to the Caribbean after their World Cup experience.
In total, 383,000 fans attended the tournament, many of them international visitors experiencing the Caribbean for the first time. According to Shallow, this influx did more than fill stadiumsโit brought lasting benefits to small businesses, workers, and local communities.
โThis World Cup brought direct economic relief to thousands,โ he said. โFrom hospitality and transportation workers to security personnel, media professionals, artisans and event staff, this tournament provided real employment and training opportunities.โ
The multiplier effect from the tournament also generated an estimated US$537.4 million in secondary spending, further amplifying the economic impact.
Dr Shallow urged Caribbean leaders to take heed of what he described as a blueprint for economic revitalization through sport.
โOur economies have been overly reliant on traditional industries for far too long. This World Cup has proven that sportโcricket in particularโis a powerful and underutilized economic engine,โ he said. โWe must now invest in our sporting infrastructure, strengthen our tourism product, enhance digital and media capabilities, and craft policies that attract international sporting bodies and investors.โ
As the region prepares to commemorate the 50th anniversary of the West Indiesโ first Cricket World Cup triumph in 1975, Shallow believes the legacy of the 2024 tournament will inspire a new generationโnot just of players, but of sports administrators, marketers, and entrepreneurs.
โCricket is not just something of great significance in our past,โ he said. โIt is an economic and social force for our future. The Caribbean is open for business, investment, and global sporting partnerships.โ
Shallow closed his remarks with a heartfelt thanks to all those who made the event a successโfrom the ICC and regional governments to the fans and communities who rallied behind the West Indies.
โYou are the true champions of this tournament,โ he said. โThrough sport, through cricket, our potential is limitless. As David Rudder sangโletโs continue to rally, rally around the West Indies. Long live West Indies. Forever one race.โ
