The SailGP F50 catamaran fleet in action on Lyttelton Harbour. Photo: PHOTOSPORT
Visitors spent more than $4 million in Christchurch during the inaugural two-day SailGP event in March.
Data from economics consultancy Fresh Info showed almost 10,000 people attended the sailing regatta at Whakaraupō-Lyttelton Harbour, with almost 70 percent of them coming from outside the region.
Analysis showed spending was markedly higher in Lyttelton from 16 March to 19 March.
Lyttelton's electronic card transactions were up 14 percent compared to the month prior, while Christchurch City spending was up 10 percent during the same period.
Fresh Info said the estimated net benefit to the city - which measured the gross benefits minus the gross costs of hosting the event - was more than $1m.
By comparison, last August's All Blacks vs Argentina rugby test match in Christchurch delivered a net benefit of about $700,000, while Six60's stadium concert brought in about $755,000.
Head of SailGP's New Zealand event Karl Budge said Aotearoa had set a new benchmark for the event's global calendar.
"We're incredibly proud of the inaugural ITM New Zealand Sail Grand Prix and its impact on the local community," he said.
"Everything from race course design, the fan village, and the newly developed facilities at Naval Point provided us with the ideal venue for the stadium style racing SailGP was built for."
ChristchurchNZ destination and attraction general manager Loren Heaphy said the two-day event was a boon for the city.
"On top of all the positive outcomes from the weekend, more than 136 million people viewed the broadcast globally.
"With all eyes on Ōtautahi, the race broadcasts were the perfect platform to talk directly to the captive audience and show off our brand new, vibrant, and playful destination."