A report to the council's Economy and Regeneration Scrutiny Committee revealed that last summer's Manchester International Festival attracted 325,300 visitors to the city and generated £39.2m of economic activity, this figure being the amount spent by MIF attendees and MIF itself.
The Festival utilised a record number of 428 volunteers from across the region, plus Factory International offered paid opportunities to more than 150 local musicians and performers from Manchester and the city region to perform at Festival Square, ranging from indie and punk bands and classical contemporary collectives to hip hop artists, community choirs and dance troupes.
The report also mentioned the opening season at Aviva Studios, which has attracted more than 300,000 visitors since it opened last summer, 32% of which were from Manchester, another 32% from the rest of Greater Manchester and 36% from outside the county.
Councillor Luthfur Rahman OBE, Deputy Leader Manchester City Council, said, "2023 was without doubt a stand-out year for culture in Manchester and MIF23 had a big part to play in this.
"The perfect prelude to the opening season of the much-anticipated Aviva Studios, the figures behind the festival speak for themselves in terms of demonstrating the economic and wider impact that investing in culture has on Manchester.
"From visitor spend and audience numbers, to volunteer hours and the number of amazing opportunities for local artists, residents and young people to get involved, together with a world-class programme of new work to see and enjoy, the festival delivers on every front.
"And now with the opening of Aviva Studios, the country's landmark new building for the arts, it's very clear that Manchester is the cultural place to be. The visitor numbers alone are a clear sign of the impact the building is already making in its first few months of opening and the global attention it is receiving around the world demonstrate that the venue's reach and reputation go far beyond Manchester and that it has a key part to play in helping attract more visitors and more business to the city.
"As a city we're proud of our long-standing support for culture and the arts and are committed to continuing to support the sector which is such a big part of what helps shape and make Manchester a place people want to live, work and invest in."