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
Jacques Rogge the first ever IOC President to stay in the Olympic village, thereby enjoying closer contact with the athletes. In October 2009 he was re-elected for a new term as President of the IOC. In September 2013 at the 125th IOC Session in Buenos Aires a new IOC President was elected. In 2011, a "Forbes" magazine list of the 68 most powerful people in the world listed Rogge at no. 67. On 27 July 2011, one year prior to London 2012, Rogge attended a ceremony at Trafalgar Square where he invited athletes worldwide to compete in the forthcoming Olympic Games. Former