AN ELITE cycle race boosted the region’s economy by nearly £300,000, a report claims.

The Pearl Izumi Tour Series saw some of the country’s best cyclists race around Durham City’s cobbled streets at speeds of up to 50kph one evening in late May.

It was the fifth consecutive year Durham had hosted a stage of the popular team event and thousands of people lined the circuit to watch the action.

A report commissioned by race organisers Sweetspot found there were 12,500 spectators, 94 per cent of whom said the event was very enjoyable.

More than half travelled from outside of Durham and nearly a quarter stayed overnight in the city.

The overall economic boost is estimated to have been £291,404, up from £250,000 for the previous year’s race.

Nigel Dodds, strategic manager for culture and sport at Durham County Council – which hosted the event, said: “I’m delighted that so many visitors enjoyed this year’s Pearl Izumi Tour Series and it must have been fantastic for the cyclists taking part to see the crowds of people lining the streets to cheer them on.

“The turnout was 1,500 higher than last year, which really shows the popularity cycling is enjoying at the moment.

“Sporting events like this are so important to County Durham, not only in terms of adding to our rich cultural calendar but also because of the value they bring to our economy and to local businesses.”

The tour was won by Rapha Condor JLT.