Auditing firm Deloitte has claimed that the multi-sport event has already created 6,448 jobs in the country.

Additionally, the Games will help add more than $900 million (£726.9 million/€842.4 million) to the Gross Domestic Product (GDP) of Chile.

Taxes, meanwhile, will generate another $88 million (£71.03 million/€82.3 million).

Santiago 2023 executive director Harold Mayne-Nicholls said that the Games will create an investment value of up to 18 per cent.

"The economic contribution of the Games is gigantic and that should motivate us to continue doing things well and generate emotions among all Chileans," said Mayne-Nicholls.

The study from Deloitte claimed that construction, wholesale, retail, and transportation industries are among those that will be benefit from the Games.

Earlier, another market research firm found that 81 per cent of the population in Chile were in favour of hosting the Games.

It also claimed that 72 per cent of those consulted stated that they felt represented by the idea.

The Pan American Games are due to run from October 20 to November 5, with the Parapan American Games set to follow from November 17 to 26.

A total of 2,986 medals are set to be awarded across the two Games.