The city has secured that amount of extra public and private investment, according to a team of independent consultants.

A city council spokesman said: "More than 6,000 jobs are being created, and 60 hectares of land regenerated."

The Games events will take place at 15 venues in Manchester and the north-west of England,while the shooting competitions will be held in Bisley, Surrey.

Much of the action will centre around a new development in Manchester called "Sportcity", a �126m complex of sports venues and athletes' facilities.

Meanwhile, swimming and diving events will take place at the �32m Manchester Aquatics Centre, which was opened by former Olympian Sharron Davies in 2000.

The higher profile which the Games will give Manchester means an estimated extra 300,000 people will come to the city.

Millions of people around the world are learning more about the area through newspaper, television, radio and online coverage.

Tourism already earns Greater Manchester �1.5bn every year.

And it is estimated the Games will bring in an extra �30m annually from visitors, in the process creating thousands of new jobs in tourism and related businesses.

The range of economic benefits was spelled out by Cambridge Policy Consultants in a report commissioned by the city council.

It is already estimated that 100,000 people come into the city centre on Friday and Saturday nights to enjoy the nightlife, while daytime attractions include shops, sport and art galleries.

More people are expected to visit Manchester with the opening of the Urbis Museum and the Imperial War Museum of the North.

The Games should provide a fantastic legacy for Manchester.

In the east of the city alone, about 40 hectares of land have been reclaimed and businesses are already starting to move in.

The Sportcity complex boasts at its heart a new �110m City of Manchester Stadium.

The stadium, which is funded by Lottery money and Manchester City Council, will become the home of Manchester City FC after the Games.

As part of the deal, the club must provide the ground for community use for 100 daysa year and share part of their profits when attendances exceed the current MaineRoad capacity.

Sportcity is made up of the stadium and several other new facilities built as part of a development of the English Institute of Sport.

Sport England has given about �135m in Lottery grants towards the building of Sportcity facilities, plus a further �30m towards running costs.