London bid for the 2012 Summer Olympics being selected by the International Olympic Committee (IOC) when put up against other world cities in a competitive bidding process. On 6 July 2005 at its 117th Session in Singapore, the IOC awarded London the right to host the Games of the XXX Olympiad. The city beat the favourite Paris 54 to 50 on the fourth and final ballot. London is the first city to host the Games three times. At the time of the bid, the budget projection was around £2 billion, but it was later estimated that the true cost would be around £9 billion. The project involved
President of the International Olympic Committee congress. Athens was approved to host the 1896 Olympic Games, being the original home of the Olympics, and Vikelas was duly chosen as the first President of the IOC. Pierre, Baron de Coubertin, took over the IOC presidency when Demetrius Vikelas stepped down after the Olympics in his own country. Despite its initial success, the Olympic Movement faced hard times, as the 1900 Games (in de Coubertin's own Paris) and 1904 Games were both upstaged by World's Fairs—Exposition Universelle in 1900 and Louisiana Purchase Exposition in 1904—and received little attention. The 1906 Intercalated Games revived the momentum, and the Olympic