Figures released on Thursday by online payments company Airwallex show a nearly 12 per cent jump in transactions for businesses actively supporting WorldPride and Mardi Gras.

The Australian company compared transactions through its platform over two two-week periods before and during WorldPride.

Sydney’s businesses have, in general, seek a spike of sales activity during the celebrations but those actively involved have seen a significant boost, the data shows.

Airwallex spokeswoman, Amelia Hamer, said businesses supporting the events had seen a 11.9 per cent increase in transactions compared to a 4.1 per cent increase for all other businesses.

“The events are obviously bringing huge crowds to Sydney and NSW, and those crowds are buying from businesses that are backing the LGBTQIA+ community,” she said.

“World Pride is clearly great for the causes it advances, but it’s also great for business.”

She said while some may complain about “Pink-washing” – using LGBTQIA+ as a tool of marketing or promotion – the data shows those making a “genuine effort” are seeing benefits flow.

More than 500,000 people were expected to visit Sydney during the almost three-week-long celebration tipped to inject $112 million to the visitor economy.

WorldPride, celebrating the LGBTQIA+ community with 300 events ranging from street parties to a human rights conference, will conclude on Friday.

Optometry retailer Bailey Nelson brand manager Tara Howard said the events had been a “huge boost” to Sydney.

“We’ve been featuring the diversity of our staff in our advertising campaigns throughout World Pride and Mardi Gras, and we’ve been giving back with donations to LGBT+ organisations,” she said.

“It’s clear that support we’re showing is resonating with the community.”