LONDON: Paris is the current favourite to win the race to host the 2012 Summer Olympic Games. The next edition of the greatest sporting spectacle in the world takes place in Athens, Greece in August 2004. Then China will play host in 2008.
 

A major survey of leading sports industry executives was conducted by consulting and research company ArkSports. 30 per cent of the global respondents favour the French bid, closely followed by London (26 per cent) and New York (16 per cent). Rio de Janeiro was in fourth place with 11 per cent favouring the Latin American city's bid.

The survey results are included in a new report Bidding & Hosting: The Guide to Successful Sports Events. Madrid and Moscow both garner five per cent of the vote, with Havana and Leipzig securing three per cent. Istanbul is considered to be the least likely to win the event, attracting just two per cent.

The report adds that the cost of bidding for the top 50 sports events globally will be worth $261 million by the end of this year. The figure will grow to $356 million by the end of 2007. By the end of 2012, the cost of bidding for the top 50 sporting events will be worth $385 million.

33 per cent of the respondents believed that the awarding of the 2010 Winter Olympics to Vancouver in Canada will mean that New York wont be awarded the 2012 Olympics. 75 per cent of respondents believed that smaller sports lose out to major events when it comes to fighting for both recognition and television airtime. 51 per cent consider funding to have the greatest impact on the future of sports events. 24 per cent stated that security issues would be most important.