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
2010 Asian Games Asia (OCA), Ahmed Al-Fahad Al-Ahmed Al-Sabah and President of International Olympic Committee Jacques Rogge. The ceremony lasted for three hours, and together with the closing ceremony costed about ￥380 million ( million). Athletes were paraded by boats along the Pearl River. The ceremony featured the water-themed arts show and culture of Guangzhou. The last torchbearer, diver He Chong lit up the cauldron, after igniting the traditional Chinese firecrackers whose flare shot up to the top of the tower where the cauldron was held. The ceremony was regarded as successful by IOC President Jacques Rogge who described it as "absolutely fantastic",