The seaside economy in Kent was given a £2.7 million boost by the Folkestone Triennial arts festival last year, according to organisers.

More than 135,000 people visited the third instalment of the town-wide exhibition, up 32,000 on the 103,000 estimated to have visited the second event in 2011.

The Creative Foundation, who organised the three-month triennial, said awareness of the festival increased to 88% among those surveyed, while there was a 49% increase in first-time visitors.

They estimate the event’s total impact was worth more than £65 million, having kicked off with a national frenzy when it was revealed 30 gold bars had been buried under one of the town’s beaches as part of an exhibit by artist Michael Sailstorfer.

“We are obviously really delighted with the impact Folkestone Triennial had artistically and financially for Folkestone and for attracting thousands of visitors" - Alastair Upton

The festival attracted 119 articles in regional, national and international media, as well as 14 items or radio and television coverage. More than 200 web articles attracted over 1.6 billion hits.

The festival, curated by ex-Liverpool Biennial director Lewis Biggs, featured installations across the town by artists including Yoko Ono, Emma Hart, Tim Etchells and Gabriel Lester.

Dozens of exhibits from previous triennials have become permanent features in the town, including pieces by Tracey Emin and Mark Wallinger.

Alastair Upton, chief executive of the Creative Foundation, said: “We are obviously really delighted with the impact Folkestone Triennial had artistically and financially for Folkestone and for attracting thousands of visitors and extensive national and international press coverage.

“We have already started working on the 2017 Triennial and once again have asked Lewis Biggs to curate a show that will inspire and take our visitors to a different artistic journey.”

The timing of the festival, which run from August to the start of November, was particularly important for local businesses.

Jodie McGauley, a shop assistant at food retailer County Fayre on the Old High Street, said: “It definitely had an impact.

“It extended the summer season for us and gave us a big boost to business. We noticed a lot of people coming in who had travelled from London.”