Leading Cairns figures lauded the federal government for picking out the Queensland city as the official site to host the G20 finance ministers gathering in 2014, with Prime Minister Julia Gillard expressing confidence that she made the right choice.

Canberra will mostly finance the global occasion, which according to Federal Treasurer Wayne Swan, will cost the taxpayers some $370 million.

Ms Gillard said on Sunday that Cairns represents the best option there is to front Australia come the 2014 financial ministers summit, which is a parallel function of the G20 world leaders forum that will be held in Brisbane.

A definite date for the event has yet to be decided but the prime minister said she was positive that Cairns would definitely shine in showcasing the best that northern Queensland can offer, specifically the area's tropical attractions.

"Over the past few days I've had the opportunity to experience for myself the wonderful weather, the delights of the scenery and the warmth of the welcome, and I know we'll be showing that to nations from around the world right here in 2014," Ms Gillard was reported by The Australian as saying on Monday.

Her statement was issued while on vacation in the Sunshine State, which was greeted with joy by key Cairns leaders, largely vowing to "to maximise every opportunity," that the summit will bring in.

Rosie Douglas of Tourism Tropical North Queensland told ABC today that Canberra's move will likely boost Cairns' standing before the eyes of important world leaders, who were expected to squeeze some first-hand experiences of the Aussie region's prime offerings.

It is estimated that more than 2,000 people will flock to the city during the summit, which for Stewart Christie, spokeswoman for economic development group Advance Cairns, was a rare chance for Cairns "to showcase the region not only nationally but internationally."

For Cairns to host the preparatory functions prior to the main G20 meet in 2014, was for city mayor Bob Manning an opportune time for the area to sustain the recent recovery in local tourism industry following long spell of slumps.

"As we start to see the tourism market coming back the implications of this can't be underestimated," Mr Manning told ABC.

Mr Swan affirmed that Cairns will be on spotlight during the 2014 G20 gathering and he is upbeat with the likelihood that the city will impress its visitors and the rest of the world, with the event, he added, set to covered by the international media.

"I think it's going to be a real boost to the confidence and standing of the region, and a chance to showcase our reef, our wet tropical rainforest and all the other attractions here in tropical north Queensland," the acting prime minister was quoted by News Ltd as saying on Sunday.