An estimated 250,000 people turned out to line the route of the inaugural Tour de Yorkshire yesterday – the first day of the new cycle race.

Set up following the successful Tour de France Grand Depart in Yorkshire in July 2014, the race’s first stage started in Bridlington and ended in Scarborough.

The race will continue today with riders travelling from Selby to York, before the final phase on Sunday, which starts at Leeds and ends in Wakefield.

Yorkshire's economy benefitted around £100m from hosting the Tour de France last year and this year’s event is set to create around £30m to £40m in tourism revenues.

The race is part of the legacy plans for last year’s Grande Depart, which saw the government pledging to invest £800,000 in improving cycling facilities in Yorkshire – and promoting this year’s Tour de Yorkshire.

In February, deputy prime minister Nick Clegg said £500,000 would go to building new cycling facilities, including new circuits, designed to support 10,000 competitive and recreational cyclists wanting to take part in the sport away from traffic, with access to support facilities.

A further £300,000 was invested on international marketing to promote Tour de Yorkshire.

According to race organiser Gary Verity, the success of the first day confirms that there is a demand for the race – and the crowds have secured its immediate future.

“We’re organising a race because there is a big demand for it", he said

"In 10 years' time, maybe people will love it less, maybe they will love it more. We would love to be sat here in 50 years' time discussing the 50th edition.

"From the point of view of Yorkshire and growing the economy here and the culture of cycling, this has to be a successful event."

• The Tour de Yorkshire 2015 is a new UCI (International Cycling Union) approved international cycle race

It is a 2.1 European Tour class race being delivered by Amaury Sport Organisation and Welcome to Yorkshire with the backing of British Cycling.

Major world-famous teams including Team Sky, Team Giant Alpecin and the new Team Wiggins have already been confirmed as racing.

To read more about last year’s Tour de France Grande Depart, click here for Sports Management issue 2, 2014

To read an interview with Nicky Roche, CEO of the Tour de France HUB, click here for Sports Management issue 3, 2014