The season of Indian Premier League (IPL) is back with IPL 7 hitting the grounds on April 16, 2014 in the largest emirate and the capital of the UAE, Abu Dhabi. One of the India’s greatest sporting shows, it is sure to have a positive impact on the economy of the UAE. Let us understand the impact of IPL on a countries economy and how is it beneficial.
The impact of sporting industry to the economy of a country is no new. In the past, a country that participates in hosting a sports event has majorly benefited from it by generating high revenues and creating a lot of job opportunities for the people. This time it is the UAE and it is the IPL. The UAE is known to have an optimistic economy that drives a lot of foreign crowd towards the country, and the IPL season 7 is a catalyst in the economy. Going down we will look at the economy and job market of the UAE, how in the past has it been a host to any sporting events; the benefits it enjoyed and how IPL season 7 will help in creating jobs in the UAE.
Studying the Overall Economy of the UAE
The UAE has a diversified and a strong economy with a lot of sectors playing important roles towards the GDP of the country. What was once a small trading hub has evolved as an international tourism destination for leisure, the UAE is expected to grow even more in the coming years. A nation that has made landmarks in a number of fields has also made landmarks in the field of cricket, in terms of hosting the games. The UAE has been a host to number of cricket matches in the past and this time it has the opportunity of hosting India’s greatest cricket show, the seventh season of IPL.
Dubai, in particular sees a lot of revenue generating through the tourism sector and big events such as IPL is sure to boost the tourism of a particular city. The mega event that is followed rigorously around the globe, is sure to make impact on the economic developments and a huge impact on the economy overall.
Sports and the UAE
Sports are widely practiced and followed in the UAE. With a blend of people from round the globe, the country follows every type of sports.
Cricket is one of the most popular sports in the UAE due to a large number of expatriate populations from cricket loving countries especially from Pakistan, India and Bangladesh. The home to ICC (International Cricket Council), Dubai has hosted a number of international cricket matches in the past. Abu Dhabi and Sharjah also have histories of hosting International cricket. This year, the IPL is all set to take place in the UAE in a complete new avatar. IPL has evolved as a tournament with its movement to the UAE.
IPL: Knowing the Background
Started in the year 2007, IPL (Indian Premier League) has become India’s greatest sporting show. A blend of glamour and game, the IPL has helped the Indian economy by generating huge revenues through the tourism and hotel industry and also has led to creating number of jobs for the unemployed. There is not much to talk about the on field success of young players that participate and find a way to a bigger platform through this. But off field the event as big as this creates a lot of opportunities in the job market. The IPL has proved to be significant in various Indian cities where a large number of jobs are created in the host cities in the fields of promotions, advertising and a lot of part time jobs for the fresher’s especially in the event management sector. Other than the host cities, other cities have also seen the growth and industries like garment, hotel and tourism see a boom. In all the last 6 seasons have been a great support to the Indian economy and the same effect is expected in the coming years.
Going further let us understand how hosting the season 7 of IPL will contribute to the economy of the UAE and how is it contributing towards creating jobs.
The UAE Job Market: Effect of IPL
It is a proven fact that IPL creates jobs and helps in building the economy of a country, as the revenue generated in huge. IPL generates jobs and also provides tax to the exchequer. The game brings much-needed money into the country. Let us see how IPL benefits the job market:
- The format in which IPL is played is the shortest version of the game of cricket and thus attracts a lot of audiences. Other than the game, the show is also known for its glamour and involvement of celebrities. IPL has gained momentum each year with the number of audiences going up each season. The big event includes a lot of big and small industries that participate in the event. They benefit their own business and also help in creating jobs in different industries.
- From part time promotional jobs to being an intern in for the main sponsor, from selling tickets to being able to watch the match in return of a promotional event, the IPL will create many such opportunities especially in the event management sector.
- The IPL benefits the business front and also creates a lot of employment. IPL has created a system that has provided a business model that is sure to turn into a profitable one if executed properly. The UAE has a lot of potential to convert this opportunity in its favor. With the seventh season taking place a lot of benefits on the business model are expected and a lot of employment opportunities are to be created in the UAE. Being a market that already has an upward graph in terms of employment, the IPL is like a catalyst to the growing economy of the UAE.
- Like India, where the IPL has created a number of jobs in the garment, hotel, tourism, event management and promotions sector, the same is expected for the UAE as it hosts the seventh season of the game. Dubai that is the business center of the Middle East and home to a lot of expatriates working there is sure to generate huge business from the game. With the locals, expats, tourists and foreigners all look forward to the game; the IPL is this year gave opportunity to Dubai to further expand its hospitality.
- With this opportunity, the UAE is becoming a global destination for all types of sports events. As a result a lot of tourists visiting the country as a participant or as a spectator, in turn is booming the tourism industry that is already one of the major sources of generating revenue in the UAE.
All in all, Dubai is hosting the first session of the IPL 7 from April 16, 2014 to April 30, 2014 where it is expected to benefit by increasing tourists landing there to enjoy the game. The fans are sure to follow the event giving the emirates a bright opportunity to add to its booming economy. The general elections in India that promise the welfare of India, help to contribute to the economy of the UAE, giving it a chance to host one of the most renowned events of all times, the Indian Premiere League.