The Economic Benefits of Hosting Asia Cup 2023

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In an effort to foster peace among Asian nations, the Asian Cricket Council organised the Asia Cup in 1983. Originally, it was planned to happen every two years. The Asia Cup is the sole cricket continental championship, and the victorious team is crowned Asia's champion.

A men's one-day international, limited-overs (50 overs), and twenty20 international cricket event is called the Asian Cricket Council Asia Cup. When the Asian Cricket Council was launched in 1983 as a way to foster goodwill among Asian nations, it was established at the same time. Originally, it was planned to happen every two years. The Asia Cup is the sole cricket continental championship, and the victorious team is crowned Asia's champion. Every two years, the ODI and T20I formats are switched.

The council's offices were located in Sharjah, United Arab Emirates, where the first Asia Cup was contested in 1984 (up till 1995). India stayed away from the competition in 1986 because of its tense cricketing relations with Sri Lanka. Due to tense political ties with India, Pakistan boycotted the 1990–1991 tournament, and the 1993 tournament was called off for the same reason. The ACC declared that beginning in 2009, the tournament would take place every two years. All of the Asia Cup matches have been declared official ODIs by the ICC.

The Asian Cricket Council was reduced in size in 2015, and the International Cricket Council (ICC) declared that, starting in 2016, Asia Cup matches would alternate between One Day International and Twenty20 International formats in accordance with the format of upcoming international competitions. As a result, the 2016 event served as a warm-up tournament for the 2016 ICC World Twenty20 and was the first one to be played in the T20I format.

The 2020 Asia Cup was originally scheduled to take place in Sri Lanka in 2021 due to the COVID-19 pandemic, but it was later moved to 2022 with matches being held in the UAE due to the busy international calendar and the increasing number of COVID cases in Sri Lanka.

The Asia Cup in 2023:

The Asia Cup 2023 will be the tournament's 16th iteration, and all games will be One Day Internationals (ODIs). Six teams will compete in the competition. It will take place in 2023 as a warm-up series before the Cricket World Cup. The current champions are Sri Lanka.

Given the continuous political animosity between the two nations, India would not visit Pakistan, according to Jay Shah, the BCCI secretary and ACC President, in October 2022. Although Pakistan had already been announced as the hosts, he insisted that "the Asia Cup 2023 will be held at a neutral venue." In response to this assertion, the Pakistan Cricket Board (PCB) asked the ACC board to convene an urgent meeting so that "this important and sensitive matter" could be discussed. According to the PCB, this declaration may have an impact on Pakistan's ability to compete in the CWC in 2023 and other ICC competitions in India throughout the cycle 2024–2031.

Ramiz Raja, the then-chairman of the PCB, stated in December 2022 that Pakistan would think about leaving the tournament if their hosting rights are revoked due to India's unwillingness to visit Pakistan. However, the ACC announced the teams and groups for the event in January 2023, with participation from both Pakistan and India.

In March 2023, it was suggested that Pakistan continue to serve as the hosts and that all India games, including at least two India-Pakistan matches, be held at an undetermined neutral site. Sri Lanka, Bangladesh, and India all rejected the hybrid approach that Pakistan had presented. If India did not participate, Pakistan had threatened to boycott the 2023 World Cup.

The event will feature participation from Afghanistan, Bangladesh, India, Pakistan, and Sri Lanka, the five full members of the Asian Cricket Council. Nepal, having won the 2023 ACC Men's Premier Cup, will be joining them. Having qualified for the first time, Nepal would be playing in their first ACC Asia Cup. The dates and format of the competition were confirmed when the Asian Cricket Council (ACC) released the pathway structure and calendar for 2023 and 2024 in January 2023. The competition was originally slated to take place in 2021, but due to a busy schedule, it was moved to 2023, with Pakistan serving as the hosts.

On January 9, 2023, the groups and format of the competition were revealed, with the six teams divided into two groups of three. There will be a total of 13 games, including a final, six Super 4 games, and six league games. Group A is made up of the winners of the qualifying competition (2023 ACC Men's Premier Cup), India, Pakistan, and Nepal, while Group B is made up of the reigning champions, Sri Lanka, along with Bangladesh and Afghanistan. To the Super 4, the top two teams from each group advance.

The Asia Cup 2023 host nation stands to gain from a number of economic advantages.

Here are some possible benefits:

Visiting and hosting people: There is a surge in tourism as a result of the Asia Cup, which draws cricket lovers from throughout the continent and beyond. This could help the local tourism sector, which includes lodging facilities, dining establishments, transportation providers, and other connected enterprises. The increased demand for lodging and services may result in huge financial gains for the host nation.

Infrastructure Growth: Infrastructure spending is frequently necessary to host a large sporting event like the Asia Cup. This covers the building or remodelling of hotels, stadiums, transportation systems, and other facilities. The enhanced infrastructure may continue to draw further events and promote economic growth, which will be advantageous for the host nation in the long run.

Creating Jobs: A vast workforce, including event management employees, security officers, volunteers, and suppliers, is needed to put on the Asia Cup. The tournament's hosting generates employment possibilities across numerous industries, which can lower unemployment rates and strengthen the economy as a whole. Additionally, the requirement for temporary employment during the event might generate revenue for people who might not otherwise have a secure job.

Opportunities for Business: Businesses can promote their goods and services on a platform thanks to the Asia Cup. Through broadcasting and advertising during the games, sponsors and advertisers can reach a sizable audience. Small and medium-sized businesses benefit from the event since it gives local vendors and business owners a chance to advertise their goods and services to cricket lovers who are attending the games.

International Reach: The Asia Cup places the host nation in the public eye on a worldwide scale. It offers a chance to show off its hospitality, culture, and tourist attractions to a large worldwide audience. This exposure can improve trade relations, bring in more international investments, and improve the host nation's general reputation and image.

Income Generation: Through a variety of routes, including ticket sales, television rights, sponsorships, retail sales, and licensing agreements, the Asia Cup makes money. The financial gains from these sources may be considerable and will help the host nation's economy as a whole.

Which nation is the Asia Cup's host?

However, the Asian Cricket Council (ACC) confirmed in October 2021 that Pakistan would host the 2023 edition of the event, while Sri Lanka would host it in 2022. India, the reigning champions, lost in the Super Four round in this iteration.

The six nations scheduled to compete in the Asia Cup, which is viewed as a crucial warm-up for the teams expected to compete in the World Cup in India, are Pakistan, India, qualifier Nepal, Afghanistan, Bangladesh, and Sri Lanka.

It's vital to remember that the economic advantages can change based on the infrastructure, tourism sector, and level of readiness of the host country. The key to maximising the financial benefits of hosting the Asia Cup 2023 is successful organisation and resource management.