The Gold Coast has scrapped its bid to host the 2026/27 Commonwealth Games after it failed to generate support from the state or federal governments.

Gold Coast mayor Tom Tate confirmed the city would no longer pursue its $700 million bid to host a "streamlined" 2026 Games, announced after the Victorian government pulled out in July citing cost blowouts.

"We did our best and that's all people can expect," Mr Tate said in a statement on Sunday night.

"Sadly, at the same time, our country's reputation as a place that reneges on a global sports contract remains in tatters."

Mr Tate said he knew the bid was audacious but said it would not have cost ratepayers.

"In simple terms, it seems our Games' vision doesn't align with the vision of the state or federal governments," he said.

Mr Tate said he had been overwhelmed by support from locals, sports administrators, businesses and athletes "all wanting to see the event saved".

"We also received fantastic support from great Australians like Gina Reinhardt, Gerry Harvey and Katie Page yet we couldn't generate support from the state or federal governments," he said.

"Our dual proposal with Perth would have saved Australia's tarnished reputation, delivered billions into the national economy and given athletes, and para-athletes, a clear pathway towards other international competitions including the 2028 Los Angeles Olympics and Paralympics and then on to the 2032 Games in Queensland."

Mr Tate said he would write to Commonwealth Games Federation president Chris Jenkins on Monday to advise him of the decision.

He said the city, which hosted the 2018 Commonwealth Games, would move forward and seek other major sports and festival events.

"I wish the federation success in finding a host for the 2026/27 Games," he said.