Mixing business and pleasure: CPL 2023 generates massive economic impact on Guyana

THE Caribbean Premier League (CPL) 2023 T20 tournament ended on a high note for Guyana on several fronts. The country not only won in terms of keeping the trophy at home after a decade of participation, but the event was a testimony of how a country can win by synchronising its productive sectors with development efforts and the support of corporate Guyana.

Last year, President Dr. Irfaan Ali boasted that it was the biggest year for CPL in Guyana, with the organisers announcing that the total economic impact for Guyana in 2022 was US$84,425,587, a 186 percent increase in the figure from the last time the country hosted Hero CPL matches in 2019. This year, the President noted that there has been a marked increase of at least 12 percent in the number of visitors who travelled to Guyana for the biggest sporting activity in the Caribbean.

In fact, this increase was made evident when the president reported an ‘embarrassing situation’ where the local hotels, guest houses and Bed and Breakfasts were all fully booked, triggering difficulties in securing accommodations for visitors. He noted, however, that this did not derail persons from staying for an extended period in the country. Thankfully, with the increasing revenues from the oil sector, the Government is developing the infrastructure needed to support these activities, and with investor confidence leading to an increasing number of hotels under development, accommodation may not be an issue in future tournaments.

In tandem with the increased economic activities generated from the influx of visitors was the opportunities for local businesses. The ‘Cricket Carnival’ is an explosive two-week cultural fest which was the brainchild of the government to allow tourists to experience Guyana’s rich culture through mouth-watering cuisine, music festivals, cultural shows and exhibitions. Local businesses, inclusive of restaurants, roadside vendors and rental companies, were able to capitalise on these activities which paved the way for a boost in sales.

The Guyana Amazon Warriors’ resilience in continuously competing in the tournament was strengthened by dedicated commitment from its corporate sponsor, ExxonMobil Guyana. The company rallied with the team for the seventh consecutive year, despite them playing in the finals five times without winning the title. President of ExxonMobil Guyana, Alistair Routledge, noted that the sponsorship was forged in the spirit of partnership, one where the company renewed its commitment to compete, its commitment to unity and its commitment to teamwork.

The support of ExxonMobil for the Warriors was complemented by thousands of Guyanese patrons who flocked the stadium for every game. As such, this collective support may have contributed to the dominance and resilience that was portrayed by the team at every match, and as fate would have it, the Warriors were able to win their first title after being a part of CPL for 10 years. It was a momentous occasion as the members of the team waved the Golden Arrowhead with pride, declaring that the win was dedicated to the people of Guyana.

The support of ExxonMobil Guyana cannot be overstated. In highlighting the importance of sponsorship for the Warriors, Chairman of the team, Dr. Ranjisinghi Bobby Ramroop stated, “Cricket in general, and Warriors T-20 Cricket, in particular, has come to define Guyanese unity and pride as a people since CPL’s launch in 2013, and ExxonMobil Guyana has enthusiastically embraced and supported our passion.”

CPL 2023 will forever be etched in the minds of “Warriors’ Nation” as the team made good on the slogan ‘this year is we year’. With the tangible benefits that the tournament has brought to the country, CPL should be seen as not just a sporting activity but as an instrument for increased local economic activity and should be used as a blueprint in how industry players can drive development in a country outside of its mainstream activities.

SHARE THIS ARTICLE :
Facebook
Twitter
WhatsApp
All our printed editions are available online
emblem3
Subscribe to the Guyana Chronicle.
Sign up to receive news and updates.
We respect your privacy.