The Tall Ships event in Hartlepool has been hailed a "stunning success" with the town hoping to reap the benefits for years to come.
Initial estimates suggest that 970,000 people visited the celebrations between 6 and 10 August. Most had travelled in from outside the region.
Civic leaders and local businesses described the impact on the local economy as "hugely positive".
They said it also raised the town's profile nationally and internationally.
There were 57 vessels in port during the event which also featured a programme of live music, street theatre, a folk festival and firework displays.
Hartlepool's elected mayor Stuart Drummond said: "We have made people sit up and take notice of us by proving that we are capable of delivering an international event of this magnitude, and we have put Hartlepool on the map.
"One of our key aims in hosting The Tall Ships Races was to ensure that the event left behind a lasting legacy, and the economic benefits are part of that."
He added that it had also had a good effect on local people.
"There have been so many people walking around with smiles on their faces and just proud to say they come from Hartlepool."