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Sochi to Host 2014 Winter Olympics!
The International Olympic Committee (IOC) announced today in Guatemala that Russia’s resort of Sochi will host the Winter Olympic and Paralympic Games of 2014. Beside Sochi, Austria’s Salzburg and South Korea’s Pyeongchang were in the competition’s final.
Russian President Vladimir Putin attended the IOC session where the cities-finalists presented their applications. However, he left Guatemala before the voting results were announced, so as not to put psychological pressure on the voting IOC members.
Russia hosted the Olympic Games only once, in 1980 in Moscow. The USSR then took the first place, winning 195 medals, out of which 80 were golden. Later attempts to win the right to host the Olympics were not successful. Besides, Russia has never hosted Winter Olympics.
Russia plans to spend 313.9 billion rubles ($12 billion) on preparing Sochi for its mission. The federal budget will allocate 185.5 billion rubles out of the sum. The Olympic budget itself is around $1.5 billion. The revenues from hosting the Olympics might reach $485 million.
The upcoming Winter Games will take place in Canada’s Vancouver in 2010.
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