The International Olympic Committee will be considering the applications and bids from four countries over the next few weeks, all looking to host the 2016 Olympics. All four countries have embarked on a two year campaign to enable their country the chance to host the Olympics, something that is finally coming to an end.

Currently there are three major contenders, which were all short listed by the International Olympic Committee late last year. These include Madrid, Chicago, Tokyo and Rio de Janeiro, all looking to be labeled the 2016 host.

One of the obvious favorites is likely to be Chicago, mainly due to the fact that USA based sponsors have played a major part in the games throughout the year and the USA have not hosted since the 1996 event.

This is not any ordinary bid for an Olympic Games host though, mainly due to the current financial crisis. The International Olympic Committee will not just be looking at the appropriate venue and organizers, but also the country that can provide the adequate finances to fund the events.

After a few spot visits to the countries selected, the International Olympic Committee will eventually decide on the host by October this year, after various discussions regarding finances.