AN ELITE cycle race boosted the economy by nearly £300,000, according to a new report.

The Pearl Izumi Tour Series saw some of the nation’s top cyclists race around Durham City at speeds of up to 30mph on an evening in late May.

A newly published report suggests spectators spent £281,310, including £33,000 on overnight accommodation and £91,000 on food and drink.

That is slightly down on the £291,404 spent last year, but up from £250,000 in 2013.

The 2015 race attracted 12,500 spectators, with 82 per cent coming from outside Durham. Nearly a fifth stayed overnight in the city.

Those who stayed overnight spent an average of £107, while day visitors spent an average of £52.

The average enjoyment rating given by visitors completing a survey was 4.8 out of five. More than half of visitors attended with their families.

Councillor Maria Plews, Durham County Council’s cabinet member for leisure, libraries and lifelong learning, said: “I’m delighted that so many people came along and enjoyed the Pearl Izumi Tour Series.

“The race always brings excitement and thrilling entertainment to the city’s streets and there’s a fantastic atmosphere as the crowds really get behind the cyclists taking part.

“The event has also proved a boost to the local economy, which highlights the value of sporting and cultural events to residents and businesses.”

Durham was hosting a Tour Series stage for the sixth consecutive year.

The 2015 series has now finished, with the Madison Genesis team crowned champions.