So congratulations to India, well deserved winners in a thrilling final. As well as the team out on the field, there are probably going to be a few other winners as well.
I don't have the figures for this year but last year, corporate India spent an estimated Rs 500-600 crore (GBP 7-8 m) on two cricket tournaments — the IPL and the T20 World Cup.
These tournaments and the many new product launches that accompanied them led to consumer products companies increasing their advertising and promotion (A&P ) spends by 25-40 % in the April-June quarter.
Even this year, the quarters ending March and June are going to see higher adspend by most consumer companies , like HUL, ITC, Godrej Consumer and Dabur and the increase in the consumption of alcohol through the season is also going to be of benefit to market leader United Breweries as is Jubilant Foodworks, a quick service restaurant selling the Domino's Pizzas in India.
The Airlines and hotels sectors will also benefit from this. In February, there was a 15% growth — more than the normal growth of 8-10 % — in the arrival of foreign tourists in comparison to last year's February . Besides business travellers, these include cricket fans from different countries. This would be particularly beneficial to companies such as Indian Hotels Company and EIH which are more dependent on foreign tourists for revenues.
At the same time, many airline companies also increased their ticket prices . For instance, domestic airline companies increased their one-way ticket price of Mumbai-Chandigarh flight from a normal day fare to Rs 24,000 from Rs 6,000 on the day of semi-final cricket World Cup match. Companies like SpiceJet, Indigo Airlines and Kingfisher benefited well from this.
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