Australian Commonwealth Games Association (ACGA) President Sam Coffa joined Queensland Premier Anna Bligh and Gold Coast Mayor Ron Clarke today sign the formal bid lodgment paper, which has been forwarded to the Commonwealth Games Federation in London.

Potential host cities have until the close of business today London time to put in their expressions of interest but Abuja, beaten by Glasgow for the right to host the 2014 Commonwealth Games, are the only other candidates expected.

Coffa said 2018 was possibly Queensland's "one window of opportunity", with many bids expected for the 2022 Games, including from Birmingham and Cardiff.

He said he had considered Auckland to be the frontrunner for the 2018 Games, but the refusal of the New Zealand Government to back it financially, that put Australia "well on the front foot".

Trinidad and Tobago, who had also expressed an interest in bidding, formally announced on Sunday that they did not believe it was the right time to try to host the Games.

Coffa siad: "Certainly it's a lot easier [with two candidates] than if you had three.

"At this stage we know two, we will know tomorrow or the day after whether there has been any [more] expressions."

Coffa said the Gold Coast's size and low-cost model may be its best asset after major metropolises had hosted the past four events, including Melbourne in 2006.

He said: "I think it's possibly one of the strengths...a regional city can afford and can plan and can organise a successful Games.

"If we did not believe that we stood a reasonable chance, we would have not made a decision to bid."

If successful, the State Government would spend $11 million on its bid and invest more than $1 billion in infrastructure over the next eight years, including an upgraded aquatic centre, new velodrome and athletes' village.

The athletes village would then be sold as residential accommodation, recouping some money.

Bligh said the Games would be a shot in the arm for the Gold Coast's economy, boosting industry, tourism and the region's ability to host international sporting events and teams.

She said: "I believe we are well placed to win this bid.

"We are going for gold on the Gold Coast."

Bligh said the Games would transform the Gold Coast, as it had done for Brisbane in 1982.

She said: "It will leave infrastructure at the Gold Coast for the long term, way beyond the Games, so we see it as an investment in the Gold Coast as our second largest city."

Clarke, formerly one of the world's top distance runners who competed at the Commonwealth Games in 1962, 1966 and 1970, winning a total of four silver medals, was determined to see the event on his coastline.

He said: "There's no better place on earth that we could stage a Games than the Gold Coast."

The decision on which city will host the Games is due to be taken at the CGF annual meeting in St Kitts and Nevis in November 2011.

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