THE Sydney Chamber of Commerce and Industry has invited critics of World Youth Day to "gorge themselves on humble pie", claiming the event generated $231 million in economic activity for the city.

But after an "APEC-like" downturn in business, retailers are questioning who got the money.

The chamber's executive director, Patricia Forsythe, described World Youth Day as "the week that Sydney reclaimed its mojo".

"After a post-Olympic blues, this is the week that Sydney reclaimed its title as the world's No. 1 host city," she said. "World Youth Day ran like clockwork.

"Businesses ranging from suburban cafes to large wholesalers have been among the beneficiaries. The bottom line is that 200,000 overseas and interstate pilgrims visited Sydney at the quietest time of the year."

But not all CBD retailers share her enthusiasm. "It was dead, absolutely dead. As bad as APEC, even worse," Mike George, manager of the Gateway Newsagency convenience store on Macquarie Place, not 100 metres from Circular Quay, said.

He doubted the event would lead to a tourism boom, as predicted by tourism chiefs.

"With air fuel prices, who's going to fly all this way? These kids saved for three years to get here."

Nick Svinos, manager of the neighbouring CQ Cafe, agreed that business was down on expectations. "We were expecting a 30 to 40 per cent increase in business but it probably ended up being about 10 per cent," he said.

One industry that predictably cashed in on the influx of overseas visitors was the trinket trade. Eddie Keyhani, from Downtown Souvenirs on George Street, said takings were up 50 per cent. Among top-selling items were boomerangs, T-shirts and mugs.