Visitors to the National Ploughing Championships last year spent an estimated €36m over the three days of the event.
A study carried out by researchers in UCD for the Ploughing Association highlighted the economic benefits that the festival brings to a local community.
It was held in Athy, Co Kildare, for the past three years and will take place near New Ross, Co Wexford, next September.
The championships attract attendances of 180,000 people annually.
The UCD study showed that 80% of attendees at the event are not local.
Trade purchases were in excess of €9.6m, personal shopping accounted for over €7m, and there was a tax-take of over €6.6m for the Exchequer.
Hotels, B&Bs, public houses, food outlets and service stations in the area all stated that they experienced a dramatic increase in trade due to the championships.
The results of the impact study were given at the annual general meeting of the National Ploughing Association in Abbeyleix, Co Laois, this afternoon.
The Managing Director of the Association, Anna May McHugh said they had no idea of the extent of the spin off for the local hospitality industry until now.
She said the report confirms the positive impact the event has on the locality not only from a commercial perspective but also from a rural and social perspective.
