Music tourism generated more than £140 million to Manchester’s economy last year, according to an industry report.

The news comes after 140,000 revellers descended on Heaton Park for Parklife festival over the weekend.

The new report has revealed the vast contribution of both live music and music tourism to Manchester and breaks down the cultural scale and impact and the economic value to the city.

The study was carried out by Oxford Economics for UK Music, the organisation representing the music industry in the UK.

Read more: Thousands brave downpours and mud to enjoy two days of music at Heaton Park festival

It shows that an incredible 1.9 million people descended on the city for live music events in 2015.

Manchester was visited by 697,000 music tourists who attended a live concert or music festival.

These visitors generated £140 million towards the local economy, and helped sustain 1,583 full-time jobs within the city, the figures show.

Withington MP Jeff Smith, himself a former DJ, said the figures show the true value of live music in Manchester.

He said: “From hosting the Sex Pistols in the Lesser Free Trade Hall in 1976 to New Order’s iconic shows at the Hacienda, Manchester has always been at the heart of British music culture.

“Today, this proud history continues with almost 700,000 people travelling to Manchester to hear live music in 2015, generating £140 million. Manchester’s gigs, festivals and concerts attracted over 1.9 million people to the city last year.

“Live music is a source of great enjoyment, but also a source of jobs, growth and investment. As a former DJ and events promoter, I’m particularly pleased to see UK Music’s latest report recognising the huge impact of the live music industry on our economy and our livelihoods.”

UK Music chief executive, Jo Dipple, said the report shows the value of live music and music tourism to Manchester through live concerts and events like Parklife and the Manchester International Festival.

She added: “The appetite for live music has continued to grow.

“Last year overseas music tourism increased by 16 per cent, whilst British music events were attended by a staggering 27.7 million people in 2015. What this report shows, unequivocally, is the economic value of live music to communities, cities and regions.”