THE Ryder Cup will bring a staggering £70 million to the Gwent economy when it comes here in 2010, it was revealed today.
Pubs, restaurants and hotels will be the biggest winners as more than 50,000 people a day flood into Newport.
And the event will also help create jobs in the tourism and leisure industry, according to the Celtic Manor's owner, Sir Terry Matthews.
Sir Terry believes that the event will boost the region even before 2010 as the profile of Newport is raised.
He said: "This is a big event and it is going to have a huge impact on the whole region. It is an icon that will put Newport on the map.
"I was in Detroit, which recently hosted the Ryder Cup, and the boost to the economy was huge. Around $70 million was spent during the week of the Ryder Cup, and many jobs were created.
"That amount of money was spent because they were getting 40,000 people in every day, but we expect to host more people than that in 2010.
"It is a wonderful opportunity as main events in Wales are generally in Cardiff.
"This will increase the profile of Newport in the coming years, and then the event itself will be monumental - it is going to be the best-ever Ryder Cup, make no mistake about it."
The last British venue to host the Ryder Cup was the Belfry in 2002. Warwickshire city council said around £60 million was spent in the area during the event.
Chief executive of Newport Unlimited, Graham Moore, said £70 million would easily be generated by the spending power of golf lovers.
He said: "The £70 million will come from spending on hotels, restaurants, shopping and tourism - just during the week of the Ryder Cup itself." Mr Moore, who has recently returned from a fact-finding trip to this year's Ryder Cup in Detroit, said tills in Newport could expect to be ringing non-stop.
He said: "To give an example of the type of spending that generates, at Detroit this year the souvenir shop alone was ringing through $4 million a day in sales."
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article