Glasgow has been chosen to host the 2014 Commonwealth Games.
There were celebrations in the Scottish city as the decision of the 71 voting nations was announced in Sri Lanka, with Glasgow winning by 47 votes to 24.
The city had been competing against Nigerian capital Abuja for the right to host the games.
Scotland's First Minister Alex Salmond said: "We will make these games the greatest sporting event our country has ever seen."
At a press conference after the announcement, Mr Salmond spoke of "jubilation" on the streets of Glasgow and across Scotland.
He added: "The schools across our country have been watching this and I think that it will be a moment of inspiration for that generation that looks forward to the 2014 Games."
The announcement was greeted with delight by hundreds of people who had gathered in Glasgow's George Square to hear the result.
Motorists also joined in the celebrations by blaring their horns.
About 2,000 children had gathered for the announcement at Tollcross Leisure Centre in the east end of the city, which will host the swimming events.
In the pool, more than 20 young swimmers who will now be going for gold jumped and splashed with delight when the result came through.
In the grandstand, hundreds of people waved Glasgow 2014 flags and cheered.
Strathclyde Partnership for Transport (SPT) has decorated its subway trains to mark Glasgow's success.
Following the announcement from Sri Lanka at lunchtime, five new cars were rolled out with the slogan "It's gold for Glasgow".
The leader of Glasgow City Council, Steven Purcell, was in Sri Lanka to hear the final decision.
He said: "We've struck gold for Glasgow but the hard work starts from here.
"This is not about politicians taking glory, or about the sporting world coming to Glasgow on its own.
"It's about making sure there is a lasting legacy. A legacy for the people of the east end of the city who will benefit from first class housing, retail and leisure developments in a city that's been crying out for that kind of change."
In a message, the Queen said: "I send my warm congratulations to everyone involved in Glasgow's successful bid to hold the 2014 Commonwealth Games - the third time that a Scottish city has been chosen as a venue for the games.
"My good wishes go to you all and to the people of Glasgow as you celebrate this impressive achievement."
Alex Salmond and council leader Steven Purcell cheer the result
Scottish Secretary Des Browne said: "Glasgow's bid was exceptional and I am confident that the people of Glasgow will excel in hosting the games.
"This will bring further hope to Glasgow's east end, building a beacon of regeneration that will offer opportunities for generations."
Louise Martin, chairman of the Commonwealth Games Council for Scotland, said: "I am absolutely ecstatic. I am shattered, I can't believe it, it is fantastic."
Speaking about Glasgow's competitor, Abuja in Nigeria, she added: "This was a race to see who could win it but no matter what happened, we would still be friends after it."
It has been estimated that it will cost the city £288m to stage the sporting event, with most of the funding coming from the Scottish Government.