The decision means a new bidding procedure will be opened for the 2021 Championships, which had been awarded to the Hungarian capital. 

Guadalajara had been set to stage the showpiece event in 2017 but withdrew last month on the grounds, claiming it was due to the falling oil prices. 

Many nations, including Great Britain and United States, swiftly ruled out stepping in, but others, such as Australia and Singapore, emerged as potential contenders.

It was Budapest, however, who emerged as the strongest alternative. 

In a statement, FINA thanked Hungarian Prime Minister Viktor Orban and Hungarian Swimming Federation head Tamas Gyarfas for their "support and contribution" in organising what is set to be the 17th edition of the global event.

The World Masters Championships, as well as the World Championships, will also be held there in July 2017.

Budapest also hosted the 2010 European Swimming Championships ©AFP/Getty Images



"We are very happy to be in Budapest in 2017 and we are sure that the local authorities and organisers will host a great competition," said FINA President Julio C. Maglione.

"Hungary is a country of sport and true passion for aquatics - the FINA World Championships and FINA World Masters Championships in two years' time will consolidate and reinforce this tradition."

In their statement, FINA expressed its "gratitude and appreciation" to other National Federations and cities that had shown their interest in staging these Championships.

The biennial event - set to consist of swimming, open water swimming, synchronised swimming, diving, high diving and water polo - should be the largest international competition hosted by the Hungarian capital, Prime Minister Orban has claimed.

The decision comes at an interesting time, with a feasibility study also currently under way over whether Budapest will launch a bid for the 2024 Summer Olympics and Paralympics.

Confirmation over whether the bid will go ahead is expected in May or June. 

Kazan will host the 2015 World Aquatics Championships from July 24 until August 9, while the 2019 event has been awarded to Gwangju, South Korea.

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