NZC chief executive Martin Snedden said he was "naturally disappointed" the 2011 cricket World Cup hosting rights had been awarded to a joint bid from India, Sri Lanka, Pakistan and Bangladesh.
"I think realistically we always knew Asia had the numbers," Snedden told Radio Sport after the International Cricket Council (ICC) executive meeting in Dubai backed the Asian bid by 10 votes to three.
As a result of the vote, the ICC awarded the 2015 World Cup to runners-up Australia and New Zealand, with England to stage the 2019 competition.
Despite the set-back, Snedden felt he could still leave Dubai feeling satisfied.
"We've got the World Cup for 2015 and I think that it's something to celebrate," he said on Monday.
"It's a bit hard when it's nine years away but it's still fantastic and as that comes closer, everyone in New Zealand will get excited about it."
Cricket Australia chief executive James Sutherland said in a statement: "It is disappointing to miss out on the 2011 World Cup.
"But I am pleased that the highly professional bid we made has demonstrated to the ICC that Australasia will host a world-class tournament in 2015."