May 23 - Glasgow's successful bid to host the 2015 World Artistic Gymnastic Championships is being hailed by sports and business officials as the first positive legacy of the city hosting the Commonwealth Games.
The event is scheduled to be held in the £120 million ($194 million) National Arena Scottish Exhibition and Conference Centre (SECC), that is due to open in 2013 and host the gymnastics at the 2014 Commonwealth Games.
"This is fantastic news for Glasgow," said City Council Leader Gordon Matheson.
"It reaffirms our position as one of the world's top sporting cities and Scotland's sporting capital.
"The scale of this achievement is demonstrated by the fact we were up against Orlando and Paris, two cities with outstanding sporting pedigrees.
"This will be the first time Glasgow has hosted a World Championships of this scale and will follow on from the 2014 Commonwealth Games.
"It promises to be an event of the highest quality, with the world's top gymnasts competing in what will be a genuinely world-class venue.
"There has never been a more exciting time for sport in Glasgow and indeed Scotland."
The Championships will be particularly significant especially for competitors in Britain, it is claimed.
"We are delighted that Glasgow has been selected to host the 2015 World Artistic Gymnastics Championships," said Jane Allen, chief executive of British Gymnastics.
"As the qualification event for the 2016 Olympic Games, we are sure that all British gymnasts will benefit hugely from the terrific home-crowd support that we have become accustomed to receiving in the city.
"The bid process saw sport and government working seamlessly to provide a superb package for competitors, officials and fans alike and we now all look forward to continuing our work together in order to provide a fantastic experience for everyone involved in Glasgow 2015."
Liz Nicholl, the chief executive of UK Sport, meanwhile, claimed that Glasgow's victory over its distinguished French and American rivals is a triumph for Britain.
"In securing this event and the 2015 Canoe Slalom World Championships, we have made a great start towards using the catalyst of both the London 2012 and Glasgow 2014 Games to position the UK as a world leading host nation," she said.
It is estiamted that the Championships will generate up to an extra £5 million in revenue for Glasgow hotels, restaurants, nightclubs and bars as well as retail stores.
"Event tourism is one of the world's fastest growing industries and it is vital that we continue to capitalise on this trend," said Mike Cantlay, the chairman of EventScotland.
Scotland's Sports Minister Shona Robison also hailed Glasgow's successful bid.
"Gymnastics is a fantastically popular sport in Scotland and I am delighted to see the success of this bid," she said.
"Scotland has an enviable reputation for staging major sporting events and our country's credentials will be further enhanced when in 2014 Glasgow hosts the Commonwealth Games.
"Not only will this bring elite athletes to Scotland it will act as inspiration for youngsters across the country to get active and develop their interest in sport."
Stuart Patrick, who represents 2,000 firms as head of Glasgow Chamber of Commerce, believes it's good for business in the city.
"This is fantastic news and the first real evidence of the legacy of the Commonwealth Games," he said.
"Hosting the 2014 Games is raising our capability as a city, not only to organise events, but also to attract further investment."
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May 2011: Glasgow wins bid to host World Gymnastics Championships
April 2011: Orlando to bid against Glasgow and Paris for World Gymnastics Championships
October 2011: Glasgow launch bid for 2015 World Gymnastics Championships