In other words, to match the films’ impact, the regional authorities would have had to spend $155 million to reach an equivalent sized audience with paid advertising.

The films have generated economic effects in terms of marketing, jobs, trade and tourism.

“The study shows that film is virtually unbeatable when it comes to marketing a region and a city. We also see the power of films to create jobs and economic growth at the local and regional levels,” says Anders Ekegren, chairman of Filmregion Stockholm-Mälardalen.

More than $14.5 million was spent in the region during production of the three films and more than 20 million people worldwide have seen the films in the cinema.

The report concluded that the widespread impact of the films is stimulating tourism.

“The film industry is a significant part of the creative industries that are so important to the competitiveness of the Stockholm region. This study confirms that film is also a strategic tool for marketing Stockholm internationally,” says Olof Zetterberg, CEO of Stockholm Business Region.

The so-called “Millennium effect” is stimulating economic growth on multiple levels.

Nearly 90 percent of the money spent on the films during production were spent in Mälardalen, the region surrounding Stockholm. That in turn benefit local businesses. For example, catering services in the filming of the first millennium film received more than $70,000. And the production team for the three films spent more than $400,000 to rent premises.

More than 10,000 tourists a year take the guided Millennium Tour offered by the Stockholm City Museum.

The study did not take into account the American Millennium film production starring Craig David and Rooney Mara. That film will premiere in December 2011.