From 4am to 9pm the streets surrounding City Park, including Brisbane, Cimitiere, Lawrence and Tamar Streets will be closed for the event.

SBS Tour de France commentator and the event's caller Mike Tomalaris said cycling first and foremost was a sporting event but in the last 30 years tourism had become a factor too.

"Up to 10,000 people come to watch this event every year, they watch it for the atmosphere, they watch it as it's free, they watch it because it's an event," he said.

"People will watch it on television outside of Launceston, they'll watch it first and foremost because it's a sporting event.

"Secondly they'll see the beauty that Launceston has to offer and there's a good chance as result they'll come here and spend their money as part of a Tasmanian holiday in the near future.

"That's what cycling and events like this have to offer."

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Sixty one men have signed up for the Stan Siejka Cycling Classic Criterium and 29 women are registered in the Women's Elite race.

Event director Rick Fontyn said the community came out in force last year to watch and the event would be live streamed again, as last year more than 23,000 people tuned in.

"We're really proud that this has stayed a free event, we've kept it true to the founders of the event back in 2002," he said.

"We get an enormous amount of exposure through the event being held, we get a lot of visitors coming here particularly a lot of riders from interstate, we've had lots of overseas riders coming over the years.

"Some of the riders we've had here like Robbie McEwen, Chris Froome, four-time Tour de France champion, Richie Porte and Simon Clarke, to name a few."

Sections of Willis, Elphin, High and Cameron Streets will also be closed to all but local traffic.

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