THE EYES of the world are on Manchester today, as the Fina World Swimming Championships come to town.

More than 30,000 people are expected to descend on the specially adapted M.E.N arena this week, to watch the world's best swimmers compete for glory.

But the event is not just bringing in hoards of people - it will also bring in plenty of cash, giving the economy a massive boost.

Previous estimates put the amount generated by the championships at £5m. But organisers now say the windfall is likely to be double that.

Peter Knowles, project director, said: "We think that £10m is a realistic ambition. We all believe that £5m is a very conservative estimate.

"We've hired Mori and Experian to do a joint financial assessment after the championships, and we are confident they will confirm our expectations."

Manchester businesses, from restaurants and shops to taxi drivers, will benefit from increased trade during the five day event. Hotels are hugely in demand from spectators, athletes and their families, and 20,000 beds have already been booked in the city.

The organisers have signed lucrative contracts with local companies, including Astra Signs on Dantzic St, which installed all of the signs and created all of the branding for the championships.

Construction workers from Manchester have also been employed to create two 25 metre swimming pools in the concert venue.

The event has cost £4.25m to put on, £1.45m of which has come from the council, which will meet the costs should it fail to make a profit. Other funds have come from the North West Development Agency, which shelled out £750,000 for the event, and UK Sport, the National Lottery sports fund, which has donated nearly a million pounds.

Mr Knowles said: "The world swimming championships will make a major contribution to the city's economic well being and global reputation.

"This is Manchester's biggest sporting event since the 2002 Commonwealth Games. It will project Manchester and the North West onto the global stage, helping to attract inward investment and create jobs."

The championships are just one of a series of sporting events that the city will host this year, dubbed Manchester World Sport 08.

The UCI Track Cycling World Championships, which took place last month at the Velodrome, brought in £1.4m. The UEFA Cup Final, which kicks off in Manchester City Stadium on May 14, is expected to generate £4m. The Visa Paralympic World Cup in May will bring £800,000 to the area, while the annual BUPA Great Manchester Run on May 18 is expected to make £3.8m. Finally, the Hi-Tec World Squash Championships in October will generate £1.8m.