Article published on the 2009-10-03 Latest update 2009-10-03 13:24 TU
Residents celebrate on Copacabana beach after Rio de Janeiro won the bid to host the 2016 Summer Olympic Games
(Photo: Reuters)
Some 50,000 people who had gathered in the city to await the news cheered upon learning the International Olympic Committee (IOC) had chosen Rio over rival cities Chicago, Tokyo and Madrid.
A string of performers took to a giant stage on the Copacabana beach on Friday night. An encore presentation is scheduled for Sunday.
Brazilian President Luiz Inacio Lula da Silva and Rio de Janeiro State Governor Sergio Cabral were visibly overjoyed when the decision was announced in Copenhagen. Rio won the final round of voting by 66-32 between Rio and the Spanish capital, Madrid.
Brazil is also going to host the 2014 football World Cup.
Brazil's economy is expected to grow between four and six per cent next year and to help push Latin America out of recession, according to a recent report by the International Monetary Fund.
The Mayor of Rio, Eduardo Paes, says the challenges the city must overcome to be ready for the Games are not insignificant, but that the bid was realistic.
More than a third of the Rio budget for the Games will be devoted to improving the transportation system, which has been neglected in the years since Rio lost its title as capital to Brasilia in 1960.
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