New figures published by Cardiff Council have found that the number of people visiting the Welsh capital last year increased by a quarter to 18.3 million, compared with 2009.
According to the Scarborough Tourism Economic Activity Monitor (STEAM), the first full year of trading atthe new St David's Dewi Sant shopping centre has boosted the figures.
However, the study still found that visitor numbers had increased even when the impact of the shopping complex had been discounted.
Cardiff Council executive member for sport, leisure and culture Nigel Howells said: "It's important that we keep the momentum going and that Cardiff continues to develop as a place that people want to visit."