The festival brought together leading artists in music, art and performance
The Manchester International Festival 2009 has been hailed a success in a council report which said the event attracted more than 230,000 people.
A full evaluation will be available in mid-October, but initial figures show that the festival was worth more than £35m to the city.
Organisers said it ranked alongside the festivals in Edinburgh and Salzburg.
Leading artists from the world of art, music and performance came to the city for the 17-day festival.
Among the attractions were the Prima Donna opera by musician Rufus Wainwright and a collaboration between Mercury Prize winners Elbow and the Halle Orchestra.
German electronic act Kraftwerk also played at Manchester Velodrome.
Leader of Manchester City Council Sir Richard Leese said: "The Manchester International Festival was even more ambitious, original and ground-breaking than the first and built on the achievements of the inaugural festival, while far exceeding its targets.
"This was a tremendous success and an exceptional festival that attracted critical acclaim."
The next festival is planned for 2011.