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Posted: Thursday 7 February, 2019 at 12:13 PM

SKN continues to see economic gains from hosting CPL

By: Staff Reporter, SKNVibes.com

    BASSETERRE, St. Kitts – THE twin-island Federation of St. Kitts and Nevis continues to reap economic benefits from hosting cricket matches during the Caribbean Premier League (CPL) season, after statistics showed US$20M in returns for 2018.

     

    That figure comes as a result of CPL announcing that based on an economic impact study carried out following the closure of the 2018 season, the region had reaped benefits in the sum of US$125.3M.

    At a recent press conference, Minister of Sport Hon. Shawn Richard provided data for 2018, which showed that St. Kitts and Nevis has seen economic benefits totalling over US$16M for four of the five years that matches played in the Federation.

    “In the year 2014, the total economic return was $9,261,436 million; in 2015 $17,404,511 million; in 2016 it was $22,722,350 million. ...I think the semifinals and the finals were held here. So, of course, one would have seen an increase then. In 2017, $16,859, 976 million; and in 2018 $22,281,402 million.”

    The Minister also revealed data on job creation, crowd attendance and accommodation.

    “…we have seen the benefits of having hosted CPL here in St. Kitts and Nevis. I have a copy of the last economic impact study which was done. It indicates that we had total spectators of 21,205 and this is in respect of the year 2018. Three hundred and nineteen jobs were created within the local market, so that’s basically Kittitians and Nevisians who would have benefitted from those jobs. 

    “In terms of corporate social responsibility spent, we’re looking at U$$23, 201, a total TV audience of 110.1 million persons and room night of 4,760. And there’s actually a breakdown of that. The breakdown indicates that you had 3,681 filled by non-local spectators and 1,079 by CPL team staff. If one is to take a closer look at those figures, you would realize the enormous economic impact on the Federation.”
     
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