Tagged: Olympic Games

Los Angeles and Paris Agree on Unique Olympic Hosting Arrangement

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Manuel Marquez, MD has enjoyed significant careers in the fields of medicine and travel, with positions ranging from a medical executive officer with Buenaventura Medical Group (BMG) to his present role as a travel director for Insight Vacations by Destination America. Through his work with the latter company, Manuel Marquez, MD has become an avid fan of international sporting spectacles, such as the FIFA World Cup and the Olympic games.

While the 2020 Olympics will take place in Tokyo, future editions of the summer games have already been decided. The 2024 and 2028 games were decided in unprecedented fashion. Following a long bidding process that saw the cities of Budapest, Hamburg, Boston, and Rome withdraw from consideration amid cost concerns, Los Angeles and Paris stood as the most likely settings for the 2024 Summer Olympics. Recognizing the need for strong host cities during times of financial uncertainty, the International Olympic Committee (IOC) opted for the first-ever double vote, selecting host cities for both the 33rd and 34th summer Olympiads.

However, the bucking of the Olympic tradition did not end there. Instead of competing for the previously hotly contested 2024 bid, the city of Los Angeles stepped back and allowed Paris, which had lost out on several recent bids, to host the 33rd summer Olympiad. By waiting until 2028, Los Angeles will benefit from a $1.8 billion advance in funds from IOC.