The news that Budapest has withdrawn its bid for the 2024 Summer Olympics has left Los Angeles and Paris as the only two cities remaining in contention.
AP reported that Hungarian governing party Fidesz said Budapest’s bid had a very small chance of success, and the decision to withdraw the bid was to avoid “a loss of international prestige” for the country.
While Budapest’s withdrawal probably won’t affect the overall race, as Paris and LA were the clear leading contenders, the news does come as a blow to the International Olympic Committee, which is increasingly struggle to find willing hosts.
Both Los Angeles and Paris have hosted an Olympic Games twice before, but the IOC has no choice but to call upon them again, as so few cities are willing to foot the enormous Olympic bill.
Boston, Hamburg and Rome all backed away earlier in the bidding cycle due to public concerns over the astronomical cost of hosting the Games.
It’s a similar story for the Winter Olympics. Following several defections, Beijing and Almaty, Kazakhstan are the only two cities vying for the 2022 Winter Games.
It’s a problem that’s unlikely to get better any time soon.
The IOC will announce who hosts the 2024 Olympics at the International Olympic Committee session in Lima, Peru, this September.