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 the next games host (in 2000) and in 2004, because Greece was hosting the games. Then, while the Olympic Hymn is played, the Olympic flag that was hoisted during the opening ceremonies is lowered from the flagpole and carried from the stadium. In what is known as the Antwerp Ceremony (because the tradition began at the Antwerp Games), the mayor of the city that organized the Games transfers a special Olympic flag to the president of the IOC, who then passes it on to the mayor of the city hosting the next Olympic Games. The receiving mayor then waves the