Johannesburg [South Africa], September 23 (ANI): Following the success of the SA20 Season four player auction, where USD 6.7 million was invested in South African players, the Season three Economic Impact Assessment (EIA) released on Tuesday claimed that the League has a significant impact on South Africa’s economy.
The report highlights that off the field, the SA20 continues to make a substantial impact on the greater South African economy, with an increase in contributions across Gross Domestic Product (GDP), Direct Expenditure, Household Income and Job Creation, as per a SA20 press release.
Following two successful seasons, the past season has further elevated the tournament’s significance, yielding an impressive GDP contribution that soared from 247.8 million USD to a remarkable 305 million USD, it said.
This considerable leap underlines the league and its franchises’ growing role in the economic fabric of local households and communities, where small businesses benefit from the influx of both local and international visitors to matches, the release said.
“SA20 is proving to be a game-changer, not only for cricket in South Africa but also for the country’s economy,” League Commissioner and former South Africa captain, Graeme Smith, said.
“The recent auction highlighted how the franchises are committed to investing in the South African pipeline, while this Economic Impact Assessment (EIA) report showcases how the League’s impact is extending beyond the field. It is incredible to see how, after only 3 seasons, we’ve been able to drive growth and create opportunities for our cricketers, the sports and hospitality industry and the greater South African economy,” he added.
The fans spoke with their feet, with nearly 4,00,000 tickets sold in Season 3 — equating to 76 per cent of capacity across all the matches – while the final has sold out for three consecutive seasons. The league also achieved an exciting milestone when it celebrated the sale of the competition’s one millionth ticket last season.
This had an impact on direct expenditure, which grew exponentially from USD 86 million in Season 2 to approximately USD 103 million. A critical injection towards South Africa’s economy is the increase in jobs, with the annualised employment opportunities increasing by 2 per cent from Season 2 to 8199.
Additionally, for the first time, the total contribution to household income reached USD 80 million.
The anticipated Season 4 will start in a new festive season timeslot on December 26 opening up the opportunity to engage the captive holiday season crowds.
Defending champions MI Cape Town will get their title defence underway with a blockbuster clash against Durban’s Super Giants on Friday, December 26, at the picturesque Newlands in the tournament opener. (ANI)
(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)
