A report from the Devon Maritime Forum has claimed the closure of the mainline railway linking Devon and Cornwall could have cost the UK economy as much as £1.2 billion.
Train services were cut after tracks were destroyed at Dawlish in early 2014 during severe storms.
The forum said “all industries were hit” by the destruction of the line.
While admitting the damage to the economy could also have been as little as £60 million, the DMF argues there was a reduction in holiday spending while local fisheries were also hit.
A 300-strong team rebuilt the track which reopened in April.
Rail replacement services were put in place and the line reopened on April 4th 2014 at a cost of £35 million.