Each spectator who came to watch the World Rally Championship, which passed through Fermanagh in 2007, spent an average over 320 euro during their visit.
The figures are published by two academics at the University of Ulster who examined the economic impact of the World Rally Championships for the North West region.
Fianna Fail Councillor for West Cavan John Paul Feeley, has welcomed the event which generated 48 million euro for the economy.
Highlighting the success of the World Rally Championship, Councillor Feeley said: "Over 250,000 spectators attended the cross border event making it the largest sporting event ever hosted in Ireland. According to the research over 17,000 of these spectators travelled from overseas to the North West region; a great economic boost for the region. The research has shown us the average spend per spectator was over 320 euro."
However, the Councillor added: "Only a small section of Cavan benefited from the route taken by the Rally in November last. I would be anxious to see more of the Rally take place in Cavan, when it returns to the North West in January of next year.
"The success of Rally Ireland shows that the North West region is more than capable of hosting such international sporting events and at attracting huge numbers of spectators, all spending more in the region. In addition over 3000 volunteers, many of them from Cavan ensured the rally was a success for all concerned for spectators and for drivers alike."
Rally Ireland which is sponsored by Failte Ireland and Sport Northern Ireland has been nominated to open the 2009 World Rally Championship series. It will start on 29 January next year in Belfast and finish on Sunday 1 February in Sligo.