Businesses are set to benefit from the new production
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The Georgian city of Bath will provide the centrepiece for a new film version of Thackeray's masterpiece, Vanity Fair.
More than 500 technicians, actors and support staff are expected to swell the city, with filming planned for mid June.
John Everitt of Bath and North East Somerset Council said: "Our estimates are that local business will benefit from an additional £1m being spent.
"As well as this boost to the economy, the spin-off publicity for Bath over the next few years will be immeasurable."
Oscar winner
Producers want to film in the Great Pulteney Street and Sydney Place areas as they match their view of Regency London.
"There will be disruption during the filming," said Mr Everitt. "But the immediate benefits to local business and the long-term spin-off for Bath must be balanced against the week of disturbance."
Hollywood actress Reese Witherspoon plays Becky Sharp in the production which also features Oscar-winning actor, Jim Broadbent.
The screenplay is by Gosford Park writer Julian Fellowes and Mira Nair will direct.