Pakistan Super League (PSL) is a specialized Twenty20 cricket league in Pakistan. Since its inception in 2015, it has grown in popularity and has become one of the major sources of revenue for the country. Pakistan Super League’s 8th Edition is set to kick off on February 13, 2023. The tournament not only provides a platform for local talent to showcase their skills, but also attracts international players and boosts the economy.
PSL has a significant impact on the economy of Pakistan, just as other cricket leagues have a similar impact on the economies of their respective countries. The tournament has boosted the tourism, entertainment, employment, and investment sectors, and has helped in promoting the country as a potential investment destination.
Some other popular cricket leagues and their impact on the economy of the relevant countries include Indian Premier League, Big Bash League, and Caribbean Premier League.
The IPL, held in India, is one of the most popular cricket leagues in the world. The tournament has a significant impact on the economy of India. The tournament has contributed to the growth of GDP, employment, and trade in the country and has played a crucial role in boosting various industries. However, the exact percentage share of the IPL in the GDP of India is not publicly available. The IPL has been instrumental in the growth and development of the Indian economy and has helped in promoting the country as a potential investment destination. The IPL has attracted a large number of sponsors and advertisers.
The BBL is held in Australia and is one of the most popular cricket leagues in the world. The tournament has a positive impact on the Australian economy, boosting the tourism, entertainment, and employment sectors. The BBL has also helped in promoting Australia as a potential investment destination and has attracted a large number of sponsors and advertisers.
The CPL is held in the Caribbean and has a significant impact on the economies of the countries in the region. The tournament boosts the tourism, entertainment, and employment sectors and has helped in promoting the Caribbean as a potential investment destination.
PSL and economy
The PSL franchises generate significant income through various sources and play a crucial role in the league’s success and growth. The franchises attract sponsors, generate revenue through ticket sales and merchandise, and receive a share of the central revenue generated by the league. These sources of income have helped in boosting the economy and promote the country as a hub for cricketing talent.
The PSL has a significant impact on the tourism industry of Pakistan. The tournament attracts a large number of tourists from across the world, who come to witness the live matches. This results in an increase in hotel bookings, transportation, and other tourism-related activities, thereby contributing to the country’s economy. Additionally, the PSL serves as a platform for promoting Pakistan as a tourist destination, thereby further boosting the tourism industry.
Furthermore, according to a study by the Pakistan Cricket Board (PCB), the PSL has contributed approximately $100 million to the country’s economy, with a large portion of this contribution coming from increased tourism and advertisement revenue.
Impact on employment
The PSL also provides a boost to the entertainment industry in Pakistan. The matches are broadcasted not only in Pakistan but also in other countries, providing exposure to local advertisers and brands. This leads to an increase in advertisement revenue and sponsorship deals, thereby contributing to the growth of the entertainment industry.
The PSL has a positive impact on the employment sector as well. The tournament creates job opportunities for local people in the areas of hospitality, transportation, and security. The increased economic activity during the tournament period also results in an increase in the demand for goods and services, thereby creating job opportunities in various other sectors.
Moreover, the PSL provides an opportunity for the country to showcase its infrastructure and facilities to the world. The tournament has been hosted in different cities in Pakistan, providing an opportunity to showcase the country’s modern stadiums, transportation systems, and other facilities. This helps in promoting the country as a potential investment destination, thereby attracting foreign investment.
The Pakistan Super League (PSL) has played a crucial role in improving the image of Pakistan and promoting the country as a potential investment destination. The tournament has been instrumental in showcasing the country’s modern infrastructure, facilities, and ability to host large-scale international events. Moreover, the PSL has helped in attracting international players and broadcasting the matches to a global audience. This has helped in improving the image of Pakistan and has portrayed the country as a safe and secure destination for international events.
The tournament has also provided a platform for local talent to showcase their skills, thereby helping in promoting the country as a hub for cricketing talent.
Muhammad Abeer Farooq is Economist/M&E Expert (Rehman Habib Consultants (RHC) Pvt. Limited)
Dr. Mudassar Rashid is Associate Professor (COMSATS University Islamabad Campus)