Budapest became the fifth city to announce its intention to bid on the 2024 Summer Olympics.
The city made its intentions known in a letter to International Olympic Committee president Thomas Bach after the Hungarian government approved the bid by an 81% majority.
“The City of Budapest and the Hungarian Olympic Committee wish to participate in the application and bidding process with the aim of selecting the host city,” the letter said. “It is also welcome that the IOC will start towards an efficient and sustainable Olympic Games planning, breaking the biggest and richest countries in the Olympic planning monopoly.”
Budapest joins Boston, Hamburg, Germany, Paris and Rome as cities vying to host the Games. Budapest has never hosted an Olympics, last submitting a bid for the 1960 games.
Other cities that want to join the bidding process must submit applications to the IOC by Sept. 15. Baku (Azerbaijan), Istanbul (Turkey) and Doha (Qatar) have previously expressed interest in hosting the games.
A final decision will be made by the IOC during a congress in Lima, Peru, on Sept. 15, 2017.
Budapest mayor Istvan Tarlos and Hungarian Olympic Committee head Zsolt Borkai said in the letter that Hungary is one of the most successful countries to have never hosted the Olympics.
According to a recent study, hosting the Olympics could generate $4.1 billion in revenues for Budapest.
- Scooby Axson