CHICAGO (CBS) — The annual Bank of America Chicago Marathon means hundreds of millions of dollars for the local economy.

As WBBM Newsradio’s David Roe reports, a new study conducted by the University of Illinois Regional Economics Applications Laboratory finds Chicago reaps huge benefits because it hosts the Marathon – in the amount of $171.5 million.

LISTEN: WBBM Newsradio’s David Roe reports

Crain’s Chicago Business reports last year’s race brought nearly $71 million dollars in direct contributions to the tourism sector, and about $101 million in indirect activity.

The 34th annual Marathon is on Oct. 9, one week from Sunday, and 45,000 runners representing more than 100 countries have signed up to take part.

Organizers say 10,000 of those participants will be visiting Chicago for the first time. Many will spend money on hotels, restaurants and other tourist activities.

(TM and © Copyright 2011 CBS Radio Inc. and its relevant subsidiaries. CBS Radio and EYE Logo TM and Copyright 2011 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed. The Associated Press contributed to this report.)

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