Last winter's Ashes series provided a £133m boost for the Australian economy and led to the creation of 793 jobs.
The figures have been revealed in an Economic Impact Study report commissioned by Cricket Australia.
More than 813,000 tickets were sold for the Tests and one-day matches, and 37,000 overseas tourists visited Australia during the series.
"This shows cricket is good for business in this country," CA chief executive James Sutherland commented.
Explaining the reasons for the study, he added: "The EIS gives Cricket Australia the opportunity to better understand the impact cricket has on the Australian community and state economies across the country.
"It will provide Cricket Australia with information to help deliver the game more effectively and efficiently to the cricketing public."
The Ashes series was arguably the most eagerly anticipated in history following England's win on home soil in 2005, but it proved to be one-sided affair as Australia achieved a 5-0 whitewash triumph.
Despite England's poor performance, the study also showed that each tourist stayed for around 30 days and spent almost £4,400.
And they were rewarded in the limited overs competition when England gained a measure of revenge by beating Australia 2-0 in a best-of-three final.
Tourism Minister Fran Bailey welcomed the report and said the challenge now was to maximise economic benefits from forthcoming series against Sri Lanka and India, especially the latter.
"Cricket provides one of Australia's strongest links with India, and through our new tourism office in Mumbai and our partnership with Cricket Australia, we intend to bowl in a tourism bonanza this coming summer," she commented.
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