SCOTLAND'S major new music venue has generated economic spin-offs worth more than £130million to its host city after its first full year of operation, its owners claim.

Since opening in late 2013, the Hydro Arena has hosted 93 events and 165 performances, from the Commonwealth games to Beyonce, Prince, Michael Buble, Fleetwood Mac, the MTV Awards and the BBC Sports Personality of the Year.

Other popular acts included Still Game's Jack and Victor in a live show.

Even excluding the Glasgow 2014 events, an estimated 1.4 million visitors have passed through the doors of the £125 million since it opened to the public.

The New Year will see the likes of One Direction, Taylor Swift, Elton John, U2 and Take That.

The 12,000-seater arena on the banks of the Clyde was launched as far back as 2006, with a view to freeing up the SECC for other events and providing Glasgow, one of the main destinations for bands on the tour circuit, with a purpose-built venue.

Designed by acclaimed architect Norman Foster's firm it ran into funding difficulties, conflicts with developers, political fallouts and even a fire before opening with a string of concerts by Rod Stewart.

Since then, it has been cemented its place as one of Europe's leading venues.

One major spin-off has been its impact on the Finnieston area, between the city centre and the west end. Although already blossoming as Glasgow's 'Shoreditch', a new hive of trendy bars, cafes and restaurants, the Hydro has provided a constant stream of custom and confirmed its status.

When combined with the SECC it is estimated the venues delivered £378m of economic value to Glasgow last year, from hotel stays, money poured into the hospitality industry and other spend associated with an influx of visitors to the city.

The SECC's box office turnover also increased by 82% largely due to the demand for live entertainment hosted in the new venue.

Peter Duthie, chief executive of the SECC and Hydro, said: "The Hydro has been received exceptionally well not only here in Scotland but worldwide.

"To have already climbed to third position as one top arenas globally is a fantastic achievement. We have staged a phenomenal range of different events from sport and live comedy to international artists, theatre and conferences. The ability to put on a diverse range of business is exactly what we set out to do and The Hydro is working hard for Scotland in achieving this vision.

"Looking ahead we have much more to look forward to. Already we have over 90 performances confirmed for 2015 including rock giants U2, who have chosen to play just two UK venues which is a great accolade."

Before its opening there were some concerns smaller music venues would suffer, particularly at a time of low disposable income, at the hands of a publicly-funded arena.

Paul Cardow runs smaller venues and is a music promoter. So far he has staged or is putting on five shows at the Hydro, including Noel Gallagher, the Black Keys and Jack White.

He said that he had noticed little impact even when events at the Hydro appeared to be in competition with other concerts at larger venues in Glasgow and believes over the piece it has been a positive for the city.

But he warned majority owners, Glasgow City Council, not to rest on the Hydro's success at the expense of the rest of the city.

He said: "One problem is there's just not enough money to go round in Glasgow. The rates for city centre venues is crippling, the parking system is a mess.

"It's changed the dynamics of the city. Finnieston is booming. But Sauchiehall Street, with huge rent and rates bills, isn't."

Dave Ross owns the Admiral Bar in the city centre. It catches trade from those arriving in the city and making their way to the Hydro, around 15 minutes walk away.

It won't make him a millionaire, he said, with the nature of the crowd often a factor.

He said: "When Fleetwood Mac played the crowd in the bar was fantastic. When the darts was on, maybe less so. But you can really feel the impact of the Hydro around Finnieston. There are Sunday and Tuesday nights you just can't get into places. Every area has its day."