Beyonce Knowles was among the award winners

The event is estimated to have brought �4m into the area's economy while promoting the Scottish capital as a tourist destination.

The number of rooms booked in the city's top hotels surged by almost a quarter in the week of the event.

Tourism chiefs hope the success of the event will help market Edinburgh and Scotland to a younger tourist market.

City council leader Donald Anderson said it had shown that Edinburgh was one of the world's top destinations for such events.

"Alongside the economic boost to the city from hosting the awards, MTV has left a lasting legacy for many music fans in Edinburgh, especially our young people," he said.

"As well as adopting Edinburgh's OneCity Trust, MTV has enthusiastically supported many local initiatives to ensure that the city's young people could get involved.

MTV Europe Music Awards winners

"This was a once-in-a-lifetime opportunity for them to glimpse the music industry at work and we hope for some it has opened up doors to a future career path."

Thursday's ceremony was beamed to a potential audience of one billion people in 28 countries.

Justin Timberlake picked up awards for best pop artist, best male and best album.

The ceremony was hosted by Christina Aguilera, who also picked up the award for best female.

The big top in the Leith area of the city saw performances by Kylie Minogue, Beyonce Knowles, Pink, The White Stripes, The Darkness and Black Eyed Peas.

It is estimated that �1.5m of the money coming to the area as a result of the event will find its way to the hotels which filled 7,000 beds this week.

The challenge now is for us to make sure we capitalise on the success of the MTV Europe Music Awards Jim McFarlane SEEL chief executive

A study commissioned by Scottish Enterprise Edinburgh and Lothians (SEEL) found that occupancy rates were at 98% for the night of the ceremony and 93% for the week - up by 23% and 22% respectively on last year.

It said more than 50% of the contractors used by MTV were based in Scotland, the highest percentage in the event's 10-year history.

Those to benefit included security firms, plumbers, hairdressers and limousine companies.

SEEL chief executive Jim McFarlane said it had been an exhilarating experience.

"Edinburgh and Scotland have been the focus of the world for the biggest pop event of its kind.

"The benefits of that level of exposure, to a young global audience, are immeasurable in our efforts to profile the city and Scotland as a vibrant, innovative international destination that they should visit," he said.

Kylie Minogue performed at the event

"The challenge now is for us to make sure we capitalise on the success of the MTV Europe Music Awards. The work does not stop here."

Graham Birse, of Edinburgh and Lothians Tourist Board, said the exposure would help cement the area's reputation as a leading city break destination.

"The Edinburgh and Lothians Tourist Board could exist for a very long time and never reach that kind of audience with the resources that are available to us," he admitted.

Tourism Minister Frank McAveety said: "I hope that many of the MTV audience will now come here to see Scotland for themselves."

He said millions of people saw that Scotland was a world-class host for such major events.

"I want to build on this success to make sure that we bring more events of this magnitude to Scotland," added Mr McAveety.