Australia's prospects of winning the hosting rights for the 2018 or 2022 World Cup finals rely on the bid team convincing the FIFA executive that the country offers the best financial return for world football's governing body.

Speaking in Melbourne on Wednesday, Football Federation Australia (FFA) chairman Frank Lowy outlined the plans for convincing the 24-person FIFA executive, which will decide on who hosts both finals in December 2010, that a World Cup in Australia would provide a financial windfall.

While some have suggested Australia's location in the southern hemisphere would be detrimental to their hopes of hosting in 2018 following World Cups in South Africa and Brazil, Lowy said the proximity of Asia meant a strategic advantage and FIFA could take the game to a whole new audience.

"We are able to show that bringing the game to Australia and having the Asian continent in the same time zone, will benefit not only Australia, not only Asia, but the whole football world," he said.

"We are able to show FIFA that the income projected from television rights and other income will be larger than if they go anywhere else."

Lowy said that the business plan of trying to build a further market in Europe or North America was flawed and that Asia presented the best opportunity for the future development of the game financially.

"Europe is full of football, there is nowhere to go," Lowy added.

"The same thing applies in North America, but nobody can offer what we can offer. We are in the backyard of Asia, we know how to stage big events and the audience which is going to watch us is two thirds of the world audience.

"That of course can be translated to dollars and cents. I think Asia's development in sport is such that if the World Cup comes to this part of the world then we will be able to cash in."

Lowy has every confidence that Australia, given the reasons he outlined, is well-positioned to succeed in one of its bids.

"I am confident, I believe that we are entitled to one of the two World Cups, hopefully, 2018 and I'm confident that the 24 members of the FIFA executive will see it the same way," he said.

Lowy said the effect on the sport in Australia if a World Cup bid was successful would be "nation-changing".

He added: "The people of Australia want football badly. They want it to succeed, they want to come to matches on a regular basis. Their support for their Socceroos is just as amazing.

"Imagine what winning the right to host the World Cup would do for the game in Australia. The entire nation was spellbound by the Socceroos in the last World Cup in Germany. Imagine what it could be if it was all happening here at home.

"The decision on the 2018 and 2022 World Cup will be made in December next year and if we are successful for either one, we won't have to wait for the benefits to flow.

"From the moment Australia is announced as the host of the World Cup, the interest level in football here will go through the roof. This will be a nation-changing event."