Ottawa will host the One Young World Summit in 2016.
The announcement was made just after 7 a.m. on Monday, July 21, 2014.
The event gathers 1500 of the brightest young people from around the world and empowers them to make lasting connections to create positive change.
Previous guest speakers include the likes of business mogul Richard Branson, Nobel Peace Prize winner Desmond Tutu and former U.S. President Bill Clinton.
Ottawa beat out Hong Kong and Kobe to become the host city.
"For a long time the city wasn't at the table. We're now at the table, we've got money at the table, we're able to bid on these kinds of events," says Ottawa Mayor Jim Watson.
Antoine Pouliot attended the Youth Summit in the past and helped bring the event to Ottawa.
"It's absolutely life changing and I think we're in for a really nice surprise in Ottawa," says Pouliot.
Ottawa Tourism President Noel Buckley estimates the summit will bring in between $2-5 million to the local economy. He says the international attention that Ottawa will draw by hosting the event is even more valuable.
The UK-based not-for-profit was founded by David Jones in 2009.
With a report from CTV's John Hua
