There will be one less country bidding for the 2012 Summer Olympic Games following the decision by the Hungarian government not to bid for the Games.
Government spokesman Zoltan J. Gal said Wednesday, “the government does not have the necessary resources and is unable to give financial guarantees to Budapest for realizing the 2012 Olympics”, reports the Associated Press.
The bid was supported by the Hungarian Olympic Committee and Budapest’s municipal government. A feasibility study was commissioned in February by the Hungarian Ministry for Sports and Youth.
The cost of staging the Summer Games would have been about $21 billion, roughly the same as the government’s full annual budget, said Gal.
A poll conducted in early February by market research agency Median showed that 45 per cent of Hungarians were in favour of Hungary bidding for the Games while 51 per cent opposed it.
