Budapest - The Budapest city council has voted overwhelmingly to back a bid for the 2024 Olympics.
The project still needs approval from the Hungarian government and parliament.
Budapest Mayor Istvan Tarlos said Tuesday that "Budapest can only be a winner" because hosting the Olympics would speed up the city's development.
The city council voted 25-1 in favor of the proposal, with one abstention. The Hungarian Olympic Committee voted in favor of a bid on June 10.
Tarlos said he had been skeptical about bidding but was persuaded by the IOC's "Olympic Agenda 2020" reforms, which emphasize the use of existing venues and lower spending.
Boston, Paris, Rome, and Hamburg have declared their candidacies.
The deadline for submission of bids is September 15.