Who is bidding for the 2016 olympics

However, the White House sent an advance team to Copenhagen this week to make preparations in case the president decides to join his wife at the last minute -- possibly arriving and departing on the day of the vote. Daley to sign the host city contract if Chicago wins. That was a major step for a U. Yet the Chicago bid could still be affected by lingering anti-U. Olympic Committee, including the American body's share of Olympic revenues and plans -- now on hold -- for its own Olympic television network.

British bookmakers list Chicago as an odds-on favorite, followed by Rio, Tokyo and Madrid. But Rio seemed to pick up the unofficial front-runner's tag in June when the bid cities made presentations to IOC members in a specially arranged meeting in Lausanne, Switzerland. Rio officials made a splash by unveiling a big world map with dots showing where all the Olympics have been held -- and an empty space for South America.

Brazil also claims it is a growing financial power that has been less affected by the global downturn than the other bid countries. It also cites the experience of hosting the Pan American Games and Brazil's selection as host of the World Cup, an event which could help prepare infrastructure for the Olympics two years later. Geography often plays a big role, though the IOC has no official policy of geographical rotation of the games. Yet, there is a sense among some IOC members that it would be soon to go back to Asia after last year's stunning Beijing Olympics.

Madrid, which is bidding for a second straight time after a failed attempt for the Games, also has a strong candidacy with 77 percent of venues already in place.

However, it must contend with a reluctance to return to Europe after London in and Sochi in The emotional argument is with Rio with regards to the games having never been in South America before. Ninety-nine of the IOC's members are eligible to vote in the first round members from countries with bid cities can't vote while their candidate is still in contention. The city receiving the fewest votes is eliminated after each round until one candidate secures a majority.

The vote is expected to go the maximum three rounds. Some members tend to vote out of sympathy in the first round, which can produce some surprises. The key to victory is picking up votes from the cities which go out. If Tokyo were to go out in the first round, it is believed many of its votes would go to Chicago. If Madrid goes out, the consensus is they would go to Rio. After that I'm afraid I have no idea where people might go. The consensus is a city doesn't win because of a good presentation, but could lose because of a bad one.

For the first time, there are no IOC executive board meetings in the days leading up to the vote. That means there will be much less opportunity for lobbying and schmoozing.

Most IOC members won't be arriving until the day before the vote. Each city will be bringing celebrity supporters to Copenhagen, including Pele for Brazil and talk show queen Oprah Winfrey for Chicago. According to The Associated Press, the city is late in paying teachers, hospital workers, and pensions, and crime has risen to almost record-breaking levels. But then the COVID pandemic hit in the spring of , and the decision was made to postpone the Olympics to the summer of When brought a surge of COVID in many parts of the world, including in Japan, the decision was made to bar spectators.

Without fans, international tourism will not provide the spending needed to make up for the costs incurred by the Japanese government. While the economic cost will be substantial, the health cost could be even higher. As of Aug. What health or economic impact these numbers may have on the city of Tokyo remains to be seen.

Hosting the Olympics tends to result in severe economic deficiencies for cities. Unless a city already has the existing infrastructure to support the excess crowds pouring in, not hosting the Olympics may be the best option. Council on Foreign Relations. Observer Research Foundation. Journal of Economic Perspectives. Accessed Aug. College of the Holy Cross. The Guardian. Foundation for Defense of Democracies. Council on Hemispheric Affairs.

United Nations Development Programme. The Associated Press. Business Insider. What Else Could That Buy? Income Tax. Actively scan device characteristics for identification. Use precise geolocation data. Select personalised content. Create a personalised content profile. Measure ad performance. Select basic ads. Create a personalised ads profile. Select personalised ads. Apply market research to generate audience insights.

Measure content performance. Develop and improve products. List of Partners vendors. Your Money. Personal Finance. Your Practice. Popular Courses. Economy Economics. Table of Contents Expand. Costs Incurred When Hosting the Olympics. Benefits of Hosting the Olympics.

Drawbacks of Hosting the Olympics. Debt Resulting from Creating Olympic Facilities. Examples of Olympics Cost. The Bottom Line. Key Takeaways Many countries and the cities within them bid tens of millions of dollars for the chance to host the Olympics.

Many believe that the level of tourism and foreign investment that result from hosting the games can be an economic boon.