Aaron Joy, the Dunedin manager of the Masters Games, said the organisation was working with the Government to finalise a bid for the event.
"It would be the ultimate for Masters Games sports here if we can win that for New Zealand," Joy said.
Auckland is the only city in the country with enough facilities to cater for the expected 30,000 competitors who would come to the world event.
The New Zealand Masters Games has been operating for 23 years and needs a boost to go to another level.
"If we are successful in winning the World Masters, that's what it needs to give our games a shot in the arm and spark another group of people to come through," Joy said.
"In some areas it's getting a bit tired and it needs the injection of the World Masters on our shores to spark it again."
He said increasing numbers for the New Zealand Masters Games was all about marketing the event.
"It is getting more expensive to market events now, because people have more choice. It takes money to market an event and keep your product out there."
Dunedin has the franchise for the New Zealand Masters Games until 2016 and the city has the first right of renewal after that.
"We should keep it, because the city is a great venue and people love coming here," Joy said. "It is up to the city to decide how they will approach it."
Joy, who is moving to Christchurch, would like Dunedin to keep the Games because it was good for the finances of the sports involved.
"The sports get 90% of the sports fee," he said. "It is one of my highlights after every games to write a cheque to pay each sport.
"After the 2010 Masters Games in Dunedin we gave back $167,400 to the sports in Dunedin. It is money that is significant for the sports concerned."
The New Zealand Masters Games brings in about $5 million to the Dunedin economy.
The event has always received good support from Christchurch.
"We were concerned how the earthquake might affect the numbers from Christchurch," Joy said. "But they were all keen to get a break away from the earthquake and come down to Dunedin for a breather."
There are normally about 1000 competitors from the Canterbury region and 700 have entered this year.
"It hasn't been too bad but there was always going to be a big unknown after such devastation in Christchurch, whether they would come back," Joy said.
Entries for this year's New Zealand Masters Games in Dunedin, from February 4-12, will be accepted throughout this month.
NZ Masters Games
Dunedin
Headquarters: Forsyth Barr Stadium.
Dates: February 4-12.
Number of sports: 70.
Number of competitors at Masters Games in Dunedin: 2002 (8120, record), 2004 (7000), 2006 (7205), 2008 (7069), 2010 (6404), 2012 (5200, provisional).
