CPL gives boost to economy as hotels report high occupancy, increased bookings

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─ from influx of cricketers, officials,tourists

By Shemuel Fanfair

The Caribbean Premier League (CPL) cricket tournament could be described as “a gift that keeps on giving”.

Several hotels across the country — both large and smaller establishments — have run out of space to accommodate the influx of overseas guests, and this is a sure indication that the local economy is slated to receive an additional boost from increased arrivals.

The Roraima Duke Lodge Hotel, Kingston

This publication understands that accommodation establishments are booked out for this weekend as the Guyana Amazon Warriors take on their rivals in a set of exhilarating Twenty-20 cricket matches.

Moreover, the fans of those rival teams have descended on Guyana to root for their teams, even as thousands of Guyanese will be in the thick of things, confidently anticipating their home team would triumph.

Reliable information reaching this publication details that well-known establishments like the Ramada Princess Hotel, Duke Lodge and Regency Suites Hotel are fully booked at least up to Monday.

While the Regency was said to not have any extra accommodation for the next 6 days, the Guyana Marriott Hotel reportedly still has rooms available; but the general consensus is that increases were recorded.

The Regency Suites in Georgetown

The nexus has been drawn that these increases fall in line with the current stretch of CPL games which conclude this Tuesday. The six teams contesting this year’s tournament are the Guyana Amazon Warriors, Jamaica Tallawahs, Trinbago Knight Riders, Barbados Tridents, St Lucia Stars, and St Kitts and Nevis Patriots.

As reported, the CPL games have added significantly to the Guyanese economy over the years. In 2016, some US$17 million were added to the local economy as direct and spin-off effects from CPL. This net sum had been calculated by assessing the influx of tourists to the country, hotel bookings, vending during the games, and the overall spending of persons during this period.

It was also noted that, last year, approximately US$90 million were poured into the entire Caribbean region as a result of the CPL tournaments.

United Kingdom-based research firm SMG Insight/YouGov had carried a study on the tournament which indicated that the event generated US$102 million across all seven host venues.

The Guyana Marriott Hotel in Georgetown

St Kitts was last year’s biggest recipient, with US$22.7 million (EC$61.2 million) injected into its economy; while Barbados recorded an economic boost of nearly US$16 million (Bds$32 million). The Barbados Tourist Board’s shirt sponsorship deal with the Tridents franchise had managed to generate US$7.7 million in media value – representing a 128 per cent increase over the 2015 numbers.

Trinidad and Tobago had also benefited to the tune of some US$14 million (TT$93.6 million) from the CPL, although total visitor spending had declined to US$2.9 million, some 25 per cent less than the 2015 figure.

St Lucia, which witnessed the St Lucia Zouks reaching the playoffs for the first time, saw US$10.8 million flowing into its economy, with visitor spending and media value also rising significantly over last year’s figures.

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