An emotional Julie Bishop says tears were shed during last night's leadership coup and Tony Abbott has been "hurt" by his ousting from the top job.

Earlier, prime minister-designate Malcolm Turnbull told reporters on Tuesday morning it was "going to be a big day" and said he would convene a meeting of Liberal MPs before being sworn in at Government House.

Mr Turnbull said he was "filled with optimism" about his new economic vision he would spend the next weeks and months setting out for the nation.