Summer Olympic, Rio 2016
Did Brazil make the right choice by hosting the Olympic Games?
On June 4, 2008, Rio de Janeiro was shortlisted by the IOC Executive Board over six other applicant cities--Chicago, Madrid, Tokyo, Baku, Doha and Prague. The price tag for the Rio Olympics 2016 at $9.7 billion has so far risen since August 2015 by 400 million reais (Brazilian Real) or 1% ($99.3 million) mainly due to inflation and the country's worst recession in decades.
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