Mumbai, June 06, 2024: A brand new survey by Wise, the worldwide know-how firm constructing the easiest way to maneuver and handle the world’s cash, reveals cricket’s rising significance in fostering connection, cultural engagement, and monetary exercise amongst Indians worldwide.
The analysis, which polled over 1,000 folks based mostly in India, discovered that cricket-related actions resembling watching and discussing matches (39%) rank among the many prime three actions that assist Indian respondents keep related with their household and mates abroad. Other prime actions embody participating in food-related subjects resembling sharing new recipes (42%), sending cash for particular events (40%), and sharing music suggestions (39%).
Key Findings
– 85% of respondents anticipate Virat Kohli to have a serious affect throughout the T20 event.
– 44% of respondents in India are eager to journey to catch the upcoming T20 World Cup matches dwell.
– 72% consider the T20 World Cup will present extra bonding alternatives with household and mates based mostly within the U.S.
– Over 60% famous having a minimum of 3 family members establishing roots abroad, suggesting a extra globalized Indian neighborhood.
– Top methods Indians keep related with family members abroad embody food-related subjects (42%), sending cash for particular events (40%), cricket-related actions (39%), and sharing music suggestions (39%).
This discovering highlights the significance of shared experiences, particularly because the variety of Indians with household and mates overseas continues to rise. Indeed, 77% of respondents have household residing abroad, and 61% noticed a minimum of 3 to 4 family members relocating internationally up to now 5 years.
Financial Ties that Bind
The survey additionally reveals the very important position monetary transactions play in strengthening household and cultural bonds with family members who dwell internationally. About 55% of respondents ship cash overseas a minimum of as soon as a month, with prime causes being presents for particular events like birthdays (49%), schooling endeavors (17%), and each day life bills (10%).
T20 World Cup: A Unifying Force
The survey discovered the upcoming T20 World Cup as a big think about strengthening connections throughout borders. 44% of respondents would go the additional mile and journey internationally to attend matches, and 72% of respondents consider the event supplies extra bonding alternatives with their family members based mostly within the US.
Influential Players: Kohli, Sharma, and Bumrah Lead Expectations
The charisma and efficiency of gamers like Virat Kohli, Rohit Sharma, and Jasprit Bumrah gas the thrill surrounding the T20 World Cup. Virat Kohli is anticipated by 85% of respondents to have a serious affect throughout the event, adopted by Rohit Sharma (67%) and Jasprit Bumrah (38%). Fans even have excessive hopes for India, with 54% of respondents believing India will win the T20 World Cup.
A Call for Transparency in Financial Services
Despite frequent interactions with monetary companies, Indians nonetheless battle to know the true value of sending cash overseas. Traditional strategies of sending cash overseas usually contain excessive fees and hidden prices, and an absence of transparency in charge buildings and change charges makes it exhausting for folks to know the precise value. Indeed, 88% of respondents weren’t conscious that there might be a markup on the change price, an usually unknown charge which prices folks further once they ship cash overseas. This underscores an pressing want for transparency within the cross-border funds area so customers could make knowledgeable selections.
“This survey unveils the power of cricket in uniting Indians and their loved ones abroad. Beyond being a sport, cricket fosters cultural connections, strengthens family bonds, and even influences financial activities, as seen by increased travel intent during key tournaments,” says Shrawan Saraogi, APAC Head of Expansion, Wise.
“At Wise, we understand the importance of shared experiences in staying connected to loved ones abroad. So, whether you’re traveling or sending money for daily expenses, education, or for special occasions, it’s important to consider the exchange rate you’re getting, whether there are hidden fees, and the speed of these transactions. Use Wise to ensure your money arrives with your loved ones on time and without hidden fees,” he added.
Wise x The Grade Cricketer
In celebration of the T20 World Cup, Wise has collaborated with the great of us at The Grade Cricketer. The duo will embark on a traditional highway journey throughout America, using their Wise account and playing cards as an example the benefit of managing funds internationally whereas showcasing how cricket connects folks throughout borders. Keep a glance out for the video sequence, with the primary one dropping within the first week of June.
About the Survey [Playing on a Global Stage: Cricket, Community, and Money Habits]
Wise carried out a survey to look at the affect of cricket in connecting Indians and their world communities, in addition to sentiments across the upcoming T20 World Cup. The survey was carried out on an internet platform in April 2024, polling over 1,000 contributors based mostly in India.
The methodology concerned focused inquiries to assess the viewership habits, emotional connections, and monetary actions associated to cricket. It additionally explored respondents’ household and pal community, together with whether or not they have family members residing overseas, together with their worldwide cash switch habits.
