A NEW study is being planned to calculate the economic value of the Scottish Open golf tournament as this year's event starts tomorrow.

The event at Gullane Golf Club in East Lothian, sponsored by Aberdeen Asset Management, will move back to the Highlands next year to Castle Stuart Golf Links near Inverness.

As well as being a valuable event for the players ahead of The British Open championship, it is also lucrative for businesses near the host venue.

Highlands and Islands Enterprise (HIE) aims to conduct a new economic impact study on the event when it returns to Castle Stuart in 2016 for the fourth time in six years.

A previous study by HIE, following the 2011 tournament at Castle Stuart, showed that 51,340 spectators attended the event and a pre-tournament Pro-Am, helping to contribute more than £5 million to the Scottish economy, including £4 million to the Highlands and Islands.

The event has grown in the interim. The 2013 competition at Castle Stuart broke new ground by being the first regular European Tour event to be shown live on a major United States TV broadcast network following a landmark agreement signed with NBC which complemented coverage on the Golf Channel.

Phil Mickelson's play-off triumph reached a worldwide television audience of more than 500 million and generated exposure estimated to be worth more than £53 million.