London is bidding to bring the games to the city in 2012

Jack McConnell said the event could have a significant financial spin-off for Scotland.

He was speaking in Athens where he has been meeting Scottish medal winners from the current games, as a guest of the British Olympic Association.

Mr McConnell added that the Scottish Executive would support a bid to bring the Commonwealth Games to Scotland.

The British Olympic Association is attempting to persuade people throughout the UK that London 2012 could benefit the whole country.

Mr McConnell said Scots should be fired up by the idea in terms of spectator opportunities and commercial openings for Scottish companies.

Sporting success

He added: "I cannot imagine a situation where the Olympics came to Britain and that didn't kindle a fantastic interest, among young people in particular, in sports participation, in turning up as part of the audience, but also trying to stretch each and everyone as far as they can go.

"So I think having the Olympics in Britain would be great for us all and I think it would be a superb opportunity for Scottish companies.

"When the Olympics were held in Australia there were companies from all over that were ready to help.

"I would urge Scottish companies now to be thinking about what they can do if London is successful.

First Minister Jack McConnell said he backs the London Olympic bid

"I think there will be those in Scotland, including politicians, saying we shouldn't support the Olympic bid because it is in England. I just can't imagine the psychology behind that thinking."

Mr McConnell said he hoped Scotland could be the home to sporting success in the near future.

He explained: "I hope we in Scotland can be focused on the kind of event we can achieve here.

"There will be a decision in the next few months over the Commonwealth Games.

"If the Commonwealth Council for Scotland are willing to have a go to bring the Commonwealth Games back to Scotland then I will be fully behind them and they will have the full support of this devolved government."

The Scottish National Party said it supported a London bid, but warned Mr McConnell against giving it a blank cheque.

Nationalist sports spokesman at Westminster, Pete Wishart, said: "What we object to are the ludicrous funding arrangements that the government have put in place.

"These measures mean that although London stands to be the prime economic beneficiary of a successful bid, the funding comes from elsewhere."

London is competing against Paris, Madrid, New York and Moscow to host the 2012 games.