DUBAI: The upcoming Indian Premier League (IPL) will give fillip to the UAE’s key sectors – including travel, tourism, hospitality and logistics – and will reportedly contribute around Dh90 million ($24.5m) to the Gulf nation’s economy.
Devesh Mamtani, chief market strategist at Century Financial, told UAE’s Khaleej Times: “…the probable contribution of this year’s IPL season to the UAE economy would be much lower than 2014’s numbers of Dh147.5 million. Assuming a 40% decline in a worst-case scenario, this implies a contribution of Dh85-Dh90 million to the UAE economy.”
Mamtani noted that travel and tourism will be a key beneficiary of the sporting event. In addition, logistical and transportation will help the UAE attract foreign direct investment into the country.
Sidharth Mehta, partner and head of BCRE at KPMG Lower Gulf, told the daily that the UAE’s hospitality sector – mainly Dubai and Abu Dhabi – will benefit from the mega event.
“League matches will be held over approximately two months and comprise eight teams. Dedicated hotels are expected to be booked by each of the teams for the duration. if authorities permit crowds in the stadium, cricket lovers from across the globe may come to the UAE to watch the live matches,” said Mehta.
“The UAE’s excellent hospitality and infrastructure facilities offer an extremely safe environment for the IPL. This may boost confidence among both those looking to organise and attend future events in the UAE,” he added.
