A record 2.6 million spectators lined the route over the four days of action between 3-6 May and overall spend was UP 54% on 2017 to £97,973,806.
Accommodation spend also increased 49% year-on-year and non-accommodation items such as food and drink, souvenirs and transport was up by 58%.
The race was televised in an unprecedented 190 countries and watched by 12.5 million global TV viewers, which represents a 29% increase on 2017. 40 global broadcasters covered the action, up from 34 in 2017, and there were over 1,270 hours of TV coverage shown according to an independent survey by Nielson Sport 2018.
The economic impact study, conducted by independent research company GRASP and compiled by Leeds Beckett University, showed that the majority of roadside spectators were from Yorkshire (79%) while 21% were from elsewhere in the UK and abroad.
In the East Riding, the historic market town of Beverley hosted the start of both the women’s and men’s races before the pelotons headed to their respective official start lines at Bentley and Tickton.
Making their Tour de Yorkshire debuts this year were Hornsea and Howden, with both towns seizing the opportunity in front of global audiences decorating the streets with yellow and blue bunting and putting on a party atmosphere.
The day also included action-packed sprints in Howden and Pocklington and a gruelling climb at the Cote de Baggaby Hill.
Councillor Stephen Parnaby OBE, leader of East Riding of Yorkshire Council, welcomed today’s news about the economic impact of this year’s race.
“The Tour de Yorkshire is now one of the most eagerly anticipated events of the year and the council is proud to be part of its ever growing success,” said Councillor Parnaby.
“Since its inception in 2015, the race has seen spectator numbers and visitor spend increase year-on-year, making it a vital asset to the region’s economy by boosting trade, supporting jobs and promoting our county locally, nationally and internationally as a must-visit destination.
“By hosting part of the event in the East Riding each year, the council is ensuring that local people can see some of the world’s top cyclists compete on their doorstep and is also providing an opportunity for local businesses to capitalise on the increased footfall and the prestige of the East Riding being linked to such a world-class sporting event.
“Thanks to the council’s commercial partnership with Welcome to Yorkshire, the East Riding will again host a stage start or finish of the 2019 Tour de Yorkshire – with planning and preparation for this already well underway.”