CPL Financial and Commercial Impact for Saint Lucia

Minister with responsibility for Youth Development and Sports, Shawn Edward, received the official Financial & Commercial Impact Report from officials of the Caribbean Premier League (CPL) for the games held in July/August 2013.

The discussions which ensued focused on some of the challenges and lessons learnt from the first staging of the games and how Caribbean Countries and the CPL could partner to provide not only world class cricket, but also a truly authentic Caribbean experience.

Dubbed the “Biggest Party in Sports” CPL reported a total investment of USD$23.2 million in the overall tournament, with an equated direct impact of USD$36.4 million. According to the document, CPL’s direct, indirect and induced impact across the region was USD$105.6M. The report stated that direct spending in Saint Lucia was US$2.0 million which included spending in eight different sectors in the economy – general services, transport, communications, manufacturing, health care, insurance and financial services. The total open economy multipliers as per the report for Saint Lucia was US$7.2 million.

Plans are advanced for the 2014 staging of the Caribbean Premiere League. The tournament is scheduled to run from July 10 to August 16, which includes an additional week. The Government of Saint Lucia will be expected to continue and increase its investment to the Saint Lucia/CPL Partnership as even greater socio-economic returns are expected this time around.

Edward is anxious to see the selection of more local young Saint Lucians participate in the CPL, as the Ministry of Youth Development and Sports continues to invest in the development of its athletes. The Caribbean Premiere League along with the Government of Saint Lucia, will hold discussions regarding Saint Lucia’s hosting of the four planned matches and tenders for the semi-finals and finals.