Celtic Manor was awarded the lucrative prize after fighting off bids from Northumberland's Slaley Hall and a number of Scottish courses.

"The plans have been set; our sleeves are rolled up - the work begins now, " said Sir Terry.

"This will not only put us on the sporting map but will also help secure more top-quality inward investment, besides increased numbers of visitors to Wales," he said.

"We will ensure that the whole of Wales benefits from this."

Sir David Rowe-Beddoe, chairman of the Welsh Development Agency, added: "The direct and indirect benefits arising from this successful bid will be worth millions of advertising and marketing pounds.

"We could not have a better opportunity to raise the profile of Wales globally.

"We intend to capitalise on the intense media interest and use it to endorse and promote one of our key messages to audiences around the world - that Wales is world-class.

"The Ryder Cup is the most talked about, most written about and most televised event in golf. While this decision is good for Wales, for business and tourism, it is excellent news for the future development of the game in our country."