The Mayor made the assertion as the Commonwealth Games Federation (CGF) Coordination Commission assesses the city’s preparations to host the multi-sport event, which will begin on April 4, 2018.

Tate believes the Games have helped to accelerate numerous projects which will leave an impact on the Australian city long after the 11 days of competition conclude.

"The Games are helping advance our vision for the Gold Coast of the future - a world class regional city internationally recognised for its liveability, economic prosperity and vibrant cultural identity," Tate said.

"My priority has been that every dollar spent by the city on hosting the Games must deliver economic and social legacy benefits for our community.

"If a project or activity can’t pass that test, then we look for other innovative ways to secure better long term legacies.

"The Commonwealth Games Federation is clear that legacy needs to be at the forefront of Games planning and we agree with them."

The Games’ squash venue has been highlighted as a key example, with initial plans for the sport changed.

It allowed the construction of a temporary structure, Sound Stage 9, where competition will now be held.

The AUS$15.5 million (£9.1 million/$11.6 million/€10.7 million) project was completed in May, providing the Village Roadshow film studios in Oxenford with the largest sound stage in the southern hemisphere.

With the facility already used for the latest Thor movie, it is claimed the attraction of major film companies shows the city’s desire to boost their economy, through investments brought about by the Games.

Gold Coast 2018 chief executive Mark Peters echoed this view, asserting that the Games offer the city the opportunity to attract different businesses and industries.

"It is a beautiful city, a superb location and the climate it brilliant, but it has relied on tourism and construction," Peters said.

"If you have a downturn in your economy and the Australian dollar fluctuates too much, then it does not become that developing city.

"The reason you bid for a major event is to hopefully change that.

"The legacy is the diversification of the economy, strengthening the tourism component and the desire for Gold Coast to be an events city."

Peters praised the decision to place the Athletes' Village in Gold Coast’s "health and knowledge" precinct, Parklands, when there were a further 12 locations to choose from.

With the precinct connecting Gold Coast’s university and private hospitals, as well as Griffith University, the legacy of having 1,200 apartments and townhouses is viewed as vital to attracting the health, education and research sectors.

The AUS$550 million project (£326 million/$411 million/€382 million), funded by the city, Griffith University and the Queensland Government, has the long-term aim of attracting thousands of jobs to the area.

"This site is in the heart of the health and knowledge precinct and will become a future engine of the Gold Coast economy by creating thousands of new jobs in the education, medical and science sectors," said Darren Scott, director of economic development and major projects at City of Gold Coast.

"We have also embarked on a long-term plan to create a world class cultural precinct at Evandale, with stage one now under construction and due for completion prior to the Games.

"The cultural precinct will be the heart of the city’s cultural economy, providing a home for our vibrant arts community.

"Without the Commonwealth Games, these projects would have been years, or even decades, away from becoming a reality."

The cultural precinct will be located in the heart of the city and will include an arts centre and gallery, entertainment spaces, performance stages and creative spaces.

An outdoor amphitheatre is part of stage one of the AUS$37.5 million (£22 million/$28 million/€26 million) investment by the city.