Guadalajara pulled out last month citing financial problems.
Budapest was originally designated to host the 2021 edition, which includes swimming, water polo, diving and synchronised swimming.
Hungarian Prime Minister Viktor Orban said the central European country would spend billions of forints to renovate areas by the river Danube designated to host the events and pass a series of laws to speed up organising work.
(Reporting by Marton Dunai; editing by Justin Palmer)
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