At the same time, the city suffered a loss of 86 million dollars due to disruptions caused by the convention, creating an estimated net positive gain of 225 million dollars.

    "The convention offered us a terrific opportunity to showcase New York city to visitors from across the country and promote tourism to the 'World's Second Home'," said Mayor Michael Bloomberg.

    Cristyne Nicholas, President and CEO of New York City & Companysaid that in addition to the immediate boost from direct spending on the convention, success gained by hosting the RNC will be reflected in the city's economy for many years to come through increased tourism.

    Officials noted that the last week in August has been traditionally slow for tourism industry and is one of the most popular vacation times of the year for New Yorkers, and some retail business in areas surrounding the convention venue were inconvenienced by the extremely tight security.

    However, overall business activity throughout the five boroughs remained steady, they said, adding that the convention was also a tremendous success for the hospitality industry. PriceWaterhouse-Coopers estimated hotel occupancy rates to be about 87 percent, while some of the city's biggest hotels reporting occupancy rates of more than 90 percent, comparing with a 74 percent occupancy rate during the same period last year.

    Earlier last month, city Controller Bill Thompson estimated the city's economy would lose more than 300 million dollars because ofthe convention. Over the past weeks many merchants near the convention venue complained to the media that the gathering was disastrous for business because access to the streets was restricted. They found the figure released by the city authorities on economic gains dubious.

    Bruce Caulfield, a business owner near the convention venue, did not share officials' upbeat reaction to the gathering. He saidthe whole week has been terrible for business and estimated the convention cost him 5,000 dollars.

    "If the mayor's right, then I'd say congratulations to the businesses who have made money," he said. "Obviously, they aren't around here, but I don't resent them."