Economic Impact Assessment highlights inaugural season’s substantial impact on GDP, household income and employment
29 November 2023: The inaugural season of Betway SA20 contributed towards a significant financial impact on South Africa’s economy. An Economic Impact Assessment (EIA), commissioned by the League, highlighted the positive effect the 33-match competition had on Coarse Domestic Product (GDP), household income, employment and direct expenditure.
The first year of South Africa’s premier T20 league was a spectacular success; a summer of unprecedented attendance numbers across the six host venues, world-class cricket, a renewed excitement and interest for domestic cricket and investment by global cricket franchise brands.
Some key numbers from the study include:
- R1.4 billion direct expenditure into South Africa
- 8223 annualised employment opportunities created
- R4.1bn contributed to South Africa’s GDP
- R958m contributed to household income
The investment by the teams into their franchises across the six host cities also led to a substantial stimulus on the local communities. The impact from the Indian Premier League-owned teams was bigger than a financial commitment, with players, staff, venues and vendors benefitting from their global experience and expertise in building the world’s most successful cricket league. As the anticipation for Season 2 grows, the goal is for the League to continue to be a catalyst that positively impacts as many South African’s as possible.
Betway SA20 League Commissioner, Graeme Smith, says a key strategic objective of the League is to manufacture a positive social impact on South African cricket and the wider economic eco-system in the country.
“When we set out to find suitable franchises to partner with SA20, our main goal was to ensure a significant economic investment into the League and South African cricket, but an event such as this has a far wider impact. The results from the Economic Impact Assessment are a right testament to the legacy we want to create as a League. Delivering a world-class cricket product is our key focus but the knock-on effects, which include investment into the economy, job opportunities, profiling South Africa as a tourist destination in key source markets, gain been fantastic. We wish to grow from strength to strength over the next number of years.”
The inaugural season was a immense hit with South African fans, who came out in their numbers to support their favourite teams, with cricket taking centre stage as the highlight of the summer.
A remarkable 74% of tickets were sold across every the matches, including six sold out matches and the final. This positive uptake from the first year bodes well for the second season, which is scheduled to start on 10 January 2024.
Source: cricket.co.za
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