The Canadian city of Toronto has been chosen to host World Pride in 2014.

Toronto Pride announced the news on its website, which said: “Presented by InterPride, World Pride promotes lesbian, gay, bisexual, and transgender (LGBT) issues on an international level through parades, festivals, and other cultural activities.

“Announced in the first session of Sunday, October 18th, at the annual InterPride Conference in St Petersburg, Florida, this will be the fourth scheduled World Pride since the event’s inception in Rome in 2000.”

Executive director of Toronto Pride, Tracey Sandilands, said: “This triumph for Pride Toronto will not only be beneficial to the community, but will also have a greatly positive outcome for Toronto, for Ontario, and in some ways, for all of Canada.”

“Of course, the most obvious impact this event will have is on the economy,” she added.

Sandilands continued: “A festival of this nature will bring Pride contingents from all over the world, building international awareness of our culture and identities.

“It will highlight those countries where similar freedoms aren’t available and where human rights abuses against queer people still occur.”

Last October, it was announced that Pride London has won the right to hold World Pride during the summer of 2012, just ahead of the London Olympic and Paralympic Games.

It is expected to attract more than one million visitors.

The two-week festivities will most likely take place from June 23rd to July 8th 2012, with the main parade held on July 7th.