A new research by the Auckland City Council has established that event industry has played significant role in the city's economy, contributing at least $479 million of consumption in 2008.

The research, a first ever drafted study, has analyzed the impact of various events held in the city over its economy.

Councillor Greg Moyle, chairperson of the Arts, Culture and Recreation Committee, said, "This assessment of the economic contribution of Auckland's entire events portfolio has demonstrated the importance of the events industry to our region."

The city hosted 1674 events, including events like Air New Zealand Fashion Week, during 2008 and these events put at least a $440 million contribution to Auckland's GDP in 2008. Around 486,000 people were associated with the events including 34,000 foreigners.

The event organizers spent $138 million on local goods and services while another $80 million of discretionary consumption were spent for various programs. $75 million of pre and post event consumption and $23 million sponsoring cost also contributed in the total cost of events.