Millions of pounds were injected into Devon's economy from a national cycle event this year in the region
More than £7.3 million was spent in the county as a result of the 2012 Tour of Britain cycle race, according to independent research.
The event, which ran from Barnstaple to Dartmouth over Dartmoor in September, raised more than double the £3.1 million generated from last year's event.
Some 220,000 spectators watched the Devon stage, which was hosted by Devon County Council, and 60,000 of those people stayed overnight in the county.
A survey of more than 3,200 spectators revealed day visitors spent £62 per group and overnight visitors spent £105 per group.
Devon County Council's cabinet member for economy, enterprise and employment, Will Mumford, said: "Once again, the Tour of Britain has proved an enormous success story for Devon.
"Devon County Council has to think carefully about spending public money on hosting an event like this.
"But our investment has been returned many times over in this direct boost to the economy of the county which would not have happened otherwise.
"The weather couldn't have been kinder to show off the beauty of Devon from the North Devon coast through the rugged majesty of Dartmoor to the delights of the South Hams."
The survey also found that 75% of respondents were inspired to cycle more regularly after watching the race.
And 95% of those who watched the Devon stage said it was a very enjoyable experience.
Devon County Council's cabinet member for highways and transportation, Stuart Hughes, said: "This year's Tour was the best ever and it has illustrated why our county is a premier destination for cycle tourism.
"The atmosphere was electric and it was incredible to see Mark Cavendish and the other top riders in Devon.
"It was also inspiring to see Devon's own champion rider Jon Tiernan-Locke wearing the yellow jersey on his home stage and winning the race overall. He's the first British rider to win the Tour of Britain and he does his preparation for races on Dartmoor.
"I find it very positive that the event has inspired people to take up cycling or return to cycling. And it's also really encouraging that so many people had so much fun."
This year's Devon stage has just been judged runner-up in the Devon Tourism Awards' event of the year, behind the Agatha Christie Festival.