The first FAI World Hot Air Balloon Championship was held in 1973.
The event established an international championship structure for competitive hot-air ballooning under the Fédération Aéronautique Internationale, commonly called the FAI. Pilots compete by flying assigned tasks that test navigation, observation, precision, and controlled approaches rather than speed alone.
Competition ballooning differs from recreational sightseeing. Pilots study weather, terrain, launch conditions, and wind at different altitudes before choosing a flight plan. Task results can depend on how accurately a marker is dropped or how close a balloon reaches a designated target.
The championship helped formalize ballooning as an international air sport. National teams and individual pilots have since competed at locations chosen for suitable flying conditions. The FAI remains the international sporting authority associated with ballooning records and competitions.