Sheffield Hallam University’s Sport Industry Research Centre reported £106 million of new money entering the Scottish economy, while Fife received over £60 million in new money.

Independent research by Yougov Sport calculated £201 million in destination marketing benefits for Scotland due to worldwide broadcasting of the event.

Martin Slumbers, CEO of The R&A, said: ““The 150th Open was a historic occasion for golf which has generated a substantial economic benefit for Scotland thanks to a record-breaking attendance at St Andrews and tens of millions of fans worldwide who watched the Championship broadcast.

“We enjoyed a hugely memorable week in which we welcomed tens of thousands of visitors to the home of golf for perhaps the most eagerly anticipated Open of all time that certainly lived up to its billing.

“We would like to thank all of our partners for their support and commitment to staging a world-class event.”

Culture Minister Christina Mckelvie added: “Scotland is the Home of Golf and this independent report confirms the significant benefit The 150th Open brought to our economy.

“The Scottish Government has a long-standing track record of supporting golf events, including direct support for the annual men’s and women’s Scottish Open.

“Last year was an unprecedented success for golf events in Scotland, headlined by The 150th Open at St Andrews.”

Councillor Altany Craik, Fife Council, said: “We were delighted to welcome record-breaking numbers of visitors to Fife in 2022 for The Open.

“The past three years have been a very difficult time for tourism, and this provided a very welcome boost to our accommodation providers, restaurants and other tourism-related businesses.

“The Open is an ideal way to showcase Fife to an international audience, many of whom are visiting for the first time, and I hope that the positive experiences they had mean that many will come back again either for golf or for a holiday.

“The economic benefit to the area is clear to see, and we congratulate The R&A and partners on hosting such a successful event.”

The Open Championship will next return to Scotland in 2024 at Royal Troon in South Ayrshire.