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
Olympic Games ceremony all nations have entered, the President of the Organizing Committee makes a speech, followed by the IOC president. At the end of his speech, he introduces the representative or head of state of the host country who officially declares the opening of the Games. Despite the Games having been awarded to a particular city and not to the country in general, the Olympic Charter presently requires the opener to be the host country's head of state. However, there have been many cases where someone other than the host country's head of state opened the Games. The first example was at