Shenzhen, the world's fourth-largest city and home to one of China's fastest-growing economies, is set to host the 2026 FIFA World Cup.

The announcement was made by the International Federation of Football (FIFA) on Tuesday, with Shenzhen being chosen over two other finalists - Istanbul in Turkey and New Delhi in India. The decision was taken after a bidding process that involved 11 cities from across the globe.

"The choice of Shenzhen as the host of the 2026 FIFA World Cup is a testament to its strategic location, infrastructure, and commitment to hosting events of global importance," said FIFA President Gianni Infantino in a statement.

Shenzhen has already invested heavily in its sporting facilities, with the construction of several stadiums and training centers. The city also boasts of a thriving tech industry, which will be leveraged for the event.

The tournament is expected to attract millions of fans from around the world, creating a significant boost to the local economy. It is estimated that the tournament could generate up to $4 billion in economic benefits.

In addition to the football action, Shenzhen will also host other sporting events during the tournament, including beach volleyball and athletics competitions.

"Hosting such a prestigious event will not only showcase the city's capabilities but also highlight its potential as a global sports destination," said Shenzhen Mayor Zhao Hongzhi in a statement.

Overall, the decision to host the 2026 FIFA World Cup in Shenzhen is a major milestone for the city, and it is likely to have a lasting impact on its development and growth.