The study, carried out as part of the Gulbenkian Oceans initiative, concluded that “the estimated economic impact of the giant waves is 10.4 million euros” in terms of the extra money spent in the town fo Nazaré by Portuguese and foreign tourists between 2011 and 2014.

Researchers analysed the impact of the North Canyon, a three-year project started in 2010 with the held of Hawaiian surfer Garrett McNamara.

The aim was to promote Nazaré abroad as a tourist destination for the practice of big-wave sports, and film three documentaries that recorded McNamara’s activities and daily life in the town.

The study concluded that, without the project, tourism revenue in the period would have been no more than €7.8 million, and that the extra publicity generated by the giant waves raised revenue for the town’s hotels by between 32% and 41%. In particular, the campaign reduced the seasonal nature of tourism in the area, possibly even benefiting neighbouring municipalities.

The results, it argues, “could inspire other municipalities that face similar challenges.”