The study, carried out for organisers Underbelly, said 165,994 people from 80 countries attended the celebrations. It calculated the economic impact was up more than 40% on the £27.9m recorded when the figure was last measured in 2010.
The value to Scotland as a whole was found to be £39.8m, a rise of more than 22% over the same period. The 2018 Hogmanay programme was the first to be directed by Underbelly, one of the largest events organisers at Edinburgh's annual festival Fringe.
There is no better place in the world to celebrate Hogmanay than in Edinburgh.Donald Wilson, Culture and Communities Convener, The City of Edinburgh Council
The centrepiece of the celebrations was a street party with 75,000 people, while Rag'n'Bone Man headlined the Concert in the Gardens. Other events included the Torchlight Procession and the Loony Dook in nearby South Queensferry.
The research was carried out by BOP Consulting, which surveyed 5,236 people who attended the celebrations. It found almost a third of people (31%) came from Scotland, a further 44% were from elsewhere in the UK, while 25% were from nations around the world. Visitors spent an average of three nights in Edinburgh and an average total of four nights in Scotland.
Edinburgh's Hogmanay was cited as the main or only reason for visiting Scotland for seven out of 10 attendees from elsewhere in the world.
Tickets for the 2019 Hogmanay celebrations in Edinburgh are already on sale, ahead of the full programme being announced in September...