It is competing against places such as New York, Dubai, Cape Town and Paris for the title of SportBusiness Ultimate Sports City 2014.
The awards have been held every two years since 2006, with cities evaluated according to the size and volume of events they have hosted alongside a range of other criteria including accommodation and security.
Glasgow made the top 10 in 2012 when London took the title.
Councillor Gordon Matheson, leader of Glasgow City Council, said: “Glasgow has invested some £200 million in our sports infrastructure, including venues such at the £113 million Emirates Arena, incorporating the Sir Chris Hoy Velodrome, and has played host to a raft of national, European and world championships in recent years.
“In less than 200 days we will host the Commonwealth Games and we’re already preparing to host the FIG World Gymnastic Championships and major cultural events such as the Turner Prize, both in 2015.
“Glasgow is already recognised as Scotland’s sporting capital and one of the world’s leading sporting cities thanks to our international events programme and world-class facilities.”
For the first time this year the judging panel will look at two new areas - cultural events and homegrown events.
The final results will be announced at the SportAccord Convention in Antalya, Turkey, in April and the prize of Ultimate Sports City 2014 will be presented to the winning city alongside awards for individual winners across the scoring categories.
In recent years, Glasgow has hosted a number of high-profile sporting events including the FIG Gymnastics World Cup in 2011 and 2012 , the 2013 World Youth Netball Championships and the 2013 UCI World Junior Track Cycling Championships.
The Commonwealth Games will take place in the city from 23 July to 3 August this year.