Leicester City's Premier League title win could be worth around £22m to the local economy, according to estimates.
Figures show that a typical Premier League season is worth around £17m to the East Midlands city, based on the amount spent by fans on food and drink, accommodation and transport.
But this is set to increase by a further £5m next season when the Foxes play in the group stages of the Champions League.
The UK's East Midlands Chamber said the city's economy will get a £1.3m boost for each extra round Claudio Ranieri's team play in Europe's top football competition.
The Foxes clinched the title with two games left to play in the season after rivals Tottenham Hotspur failed to beat Chelsea at Stamford Bridge on Monday evening, capping off a historic season for Leicester City who started the campaign as 5,000/1 outsiders.
Chamber chief executive Scott Knowles said the win has put the city on the global footballing map and has captured the imagination of sports fans around the world.
"Leicester City competing in the Premier League is worth around £17m to the city in terms of fans' spend and this will be boosted significantly next season when the club embarks on its first ever Champions League campaign," he stated.
"There will also be other benefits that you can't really put a value on. It will put Leicester in the spotlight of the world's media which, from an investment point of view, is publicity you simply cannot buy, while the feel-good factor it has created will boost workplace morale long into the summer, translating into productivity gains for many local firms," he added.