Thousands of athletes and spectators from 100 countries around the globe will converge upon Birmingham for the 2021 World Games.

The International World Game Executive Committee just announced its selection of Birmingham from among the three finalists vying for the international games. Birmingham beat Lima, Peru and Ufa, Russia for the event.

Supporters of Birmingham's bid are hailing this morning's announcement as a coup for the city, region and state. Landing the event could have a $256.5 million economic impact to the Birmingham region.

"I think I need to pinch myself to make sure I'm not dreaming," Council President Johnathan Austin said from the podium after the announcement. "The city of Birmingham will make the World Games 2021 the best World Games that you all have seen."

Birmingham Mayor William Bell said winning the games would bring both instant and long-standing benefits to the city.

"This is a historic opportunity for Birmingham," Bell told AL.com. Bell is in Washington D.C. "This is just the beginning, and I'm so thankful to the entire team and everyone who supported the team."

It would cost about $75 million to host the games, a figure that would include both public and private contributions. The city of Birmingham has committed to $3.5 million if it wins the event.

"This is exciting for Birmingham and the entire metropolitan area," Bell said. "The work is just beginning. I know we can meet the challenge."

The World Games are held every four years.

"Winning the bid to host the 2021 World Games is a tremendous opportunity for the city of Birmingham in so many different ways," explained Darin W. White, Samford University professor of marketing and coordinator of the sports marketing program.

White, who is familiar with the planning of Birmingham's bid, said winning the games has an impact well beyond athletics.

"It gives us the opportunity to create a positive and lasting legacy for our great city. It will spark dialogue and cooperation among the dozens of communities that make up Birmingham and allow us to build bridges that cut across racial and socioeconomic lines," he told AL.com. "The World Games will bring tremendous positive energy to our community that encourages us to strive to be the best in all we do and foster hope and a belief in ourselves as we witness over four thousand world class athletes from over 100 different nations compete."

Birmingham's bid also represents a broader effort to bring the event to the U.S., which hasn't been played here since 1981 when the first games were held in Santa Clara, Calif.

The delegation includes: Edgar Welden, businessman and Alabama Sports Hall of Fame chairman; Scott Myers, executive director of the Sports Hall of Fame; David Benck, vice president and general counsel of Hibbett Sporting Goods and board member for USA Gymnastics, Larry Probst, chairman of the United States Olympic Committee; and Kristin Allen, team member of USA Gymnastics.

Austin is also there representing the city.

The effort was also endorsed by President Barack Obama, who sent a letter to game officials.

White said he could not overstate the opportunity that the games could bring to the area.

"I have been part of the Birmingham community since 1976 and can confidently say that I have never been more optimistic about our future," he said. "Our children and grandchildren will look back at this historic event in the decades that follow as one of the most important milestones in the history of our city."