London unveiled its detailed plans to stage the 2012 Olympics on Friday, promising a Games of excellence without extravagance.
Bid chief Sebastian Coe said the city would beat off opposition from Paris, Madrid, Moscow and New York by creating the best Games ever.
The International Olympic Committee will announce the winner of the five city race at its session in Singapore in July.
"Our vision for the Olympic and Paralympic Games in London in 2012 is clear," Coe told reporters on Friday.
"It is to create the best Games the world has ever seen by unlocking the UK's unrivalled passion for sport, by delivering the best Games for athletes to compete in, by showcasing London's unmatched cultural wealth and diversity and by creating a real and lasting legacy."
Coe said that a London Olympics would be a "Games for the next generation".
"Games that combine existing world class facilities, famous landmarks and new facilities," the double Olympic 1,500 metres gold medallist said.
"Games that will inspire, excite, engage and be owned by the next generation. Games that fully reflect the IOC's new thinking -- excellence without extravagance."
The IOC has become increasingly concerned at the growing gigantism of the Games and are making efforts to reduce the size and cost of hosting them.
Coe said the London bid team had acted on comments made when the city was short-listed in May and had made their plans more compact.
OLYMPIC LOTTERY
"We have more than a vision," Coe said. "We now have the details -- the finances, the planning, the expertise, the capacity and the capability to deliver them.
"Since the IOC Evaluation Report in May, we have been listening and learning. We have brought fencing into the Olympic Park. We have moved shooting to a new closer venue at the Royal Artillery Barracks and we have moved the Mountain Biking.
"With these new venues, our Games will now be even more compact. Eighty percent of competitors will now be within 20 minutes of their event venues."
London delivered its 600-page Candidature File, or bid book, to the IOC's headquarters in Lausanne, Switzerland on Monday.
If successful, London's bid would help regenerate the Lower Lee Valley in east London, one of Britain's poorest areas.
Britain's Culture Secretary Tessa Jowell said: "Regeneration is coming to east London, but it will arrive more certainly, with more confidence, because of the Games.
"If we win the bid we will hit the ground running. Strong staging structures, already planned. Land acquisition already underway. Planning permission for the Olympic Park already obtained. Secure funding with a new Olympic lottery game on the statute book and ready to go.
"This will be a next generation Games -- Games that this generation is determined to deliver with style and skill."
