Budapest, June 11 (IANS): The Hungarian Olympic Committee (HOC) resolved to bid for hosting the 2024 Olympics and Paralympics.

At the same time it called on the Budapest Assembly to also back the declaration of intent and authorise Budapest mayor Istvan Tarlos to represent the city and to jointly submit the declaration along with the HOC, reports Xinhua.

The HOC heard a report on a feasibility study which found that hosting the Olympics and Paralympics could be profitable for the national economy. The master plan names a site in the southern part of Budapest and also considers several venues in other towns. The dates it proposes are July 19 to August 4 in 2024.

The proposal comes after the International Olympics Committee (IOC) adopted its Agenda 2020 programme, a strategic roadmap for the future of the Olympic Movement, designed to make the world's biggest sporting event cheaper and more attractive. The new rules allow the cost of hosting to be reduced and smaller countries to submit bids for events held in more than one city or even in more than one country.

Hungary is a founding member of the IOC, is in eighth place globally regarding the number of Olympic medals won, but has never hosted an Olympics.

Bids from countries to host the 2024 Games have to be submitted by September 15 and the IOC will choose the host in 2017. To date, Boston, Hamburg and Rome have indicated that they intend to apply.