By Jonathan Davies

Cardiff is set for an "economic boost" after being named host city for the Champions League final in 2017.

Following speculation, UEFA, Europe's football governing body, confirmed that the Millennium Stadium would host the 2017 final.

The Champions League final is one of the biggest club fixtures in world football.

Prime Minister David Cameron described it as "fantastic news". And Wales secretary Stephen Crabb said the final will bring "an economic boost that reaches the whole of Wales".

The Football Association of Wales (FAW) led the bid, supported by the Welsh Rugby Union (WRU), which owns the stadium.

The FAW also hosted last season's UEFA Super Cup at the Cardiff City Stadium between then Champions League winners Real Madrid and Europa League winners Sevilla.

Stephen Crabb said: "The FAW's bid has had the full backing of the UK government and we should be rightly proud of all the efforts that have gone into securing this pinnacle match.

"Hosting this prestigious fixture is another opportunity for one of Europe's most exciting capital cities to shine in front of an audience of millions, bringing with it an economic boost that reaches the whole of Wales."

First Minister Carwyn Jones said: "The eyes of the world will once again be turned towards Wales and I would like to thank Uefa for the trust it has placed in us to deliver a fantastic European football experience.

"We promise to do justice to this fantastic sporting spectacle."

Hosting the final will mean a huge boost for the city's economy with tens of thousands of football fans flocking into its hotels, bars and restaurants.

The Welsh government will also be hoping for two overseas teams to reach the final, which would mean more people flying in and out of Cardiff Airport.