By The Associated Press
COPENHAGEN, Denmark — Golf has a tee time for 2016 in Brazil, and top-ranked Tiger Woods can hardly wait.
The sport returns to the Olympics for the first time since 1904 amid the spectacular backdrop of Rio de Janeiro's sand and sea, giving Woods the chance to do something even the great Jack Nicklaus never did — win Olympic gold.
Olympic officials had no sooner voted golf in — along with rugby — than Woods and his fellow players cheered their chance to finally compete on sport's biggest stage. They will compete for Olympic medals, but the greater promise is that the game catches on in countries where golfers are few and golf courses are even fewer.
"I think it's great for golf," Woods said from the Presidents Cup in San Francisco. "It's a perfect fit for the Olympics, and I think we are all looking forward to golf getting into the Olympics."
The vote for golf was expected, after a campaign by the sport's leaders to bring it back for the first time since George Lyon and the United States won gold medals at the Olympics in St. Louis. They promoted it as a way to bring a sport once reserved for the elite to the masses, even though it will add 120 men and women to a sports festival already considered bloated by some in the Olympic movement.
Nicklaus said Olympic gold would not trump the green jacket given the winner of the Masters or the Claret Jug awarded in the British Open, but would be seen as something hugely important in countries where the game doesn't mean nearly as much at this time.
"For most of the world it will be a new game, with a new goal to achieve an Olympic gold medal," Nicklaus said.
Golf was approved 63-27 with two abstentions, while rugby won near unanimous acclaim in an 81-8 vote with one abstention.
They are the first sports added since triathlon and taekwondo in 2000.
Notes
• At least a handful of people in the Olympic movement support the U.S. Olympic Committee leadership — members of the USOC board, who voted in support of embattled chairman Larry Probst and chief executive officer Stephanie Streeter. The board also committed to finding Streeter's replacement by the end of the year.
Meanwhile, leaders of America's Olympic sports organizations called for Streeter's and Probst's immediate resignations.
• Olympic silver medalist Sasha Cohen has withdrawn from the first Grand Prix figure-skating event of the season because of tendinitis in her right calf.
The 2006 runner-up at the Turin Games is making a comeback after not competing since the 2006 world championships. But she said she will not skate at the Trophee Eric Bompard in Paris after consultation with an orthopedic surgeon. Cohen, 24, said she is confident she will be ready for Skate America, which starts Nov. 12 in Lake Placid, N.Y.
Source
Friday, October 16, 2009
Wednesday, October 14, 2009
Olympic Growth Expected For Brazils Real Estate Market
by Melissa Chappell
The recent news that Brazil is to host the 2016 Olympic Games in Rio de Janeiro extends as not only fantastic opportunities for the country in the sectors of economy, tourism, infrastructure and sporting awareness, yet also foreign investment.
Brazil won the victory to host the Olympics against Chicago, Madrid and Tokyo, all located in countries that have hosted the games in the past. Following three previous attempts to become a host country, Brazil has finally won. Especially beneficial to Brazil is the Olympic bid win following the FIFA World Cup host position. The two highly important sporting events will be held within two years of each other, creating a wealth of growth opportunities throughout the country.
Having been positioned as one of the world’s largest economies for several years, predictions on economic growth for 2010 has began to soar following the Olympic hosting announcement. Even the Sao Paolo stock exchange has seen impressive growth in the days immediately following the announcement, especially in companies relating to tourism and infrastructure.
The growth of Brazil’s economy will assist with continued strength in the country’s real estate market. These increases are beneficial to investors for strong and steady capital appreciation potential.
Tourism clearly receives immediate benefits from the sporting events, set to increase considerably during the lead up. Accommodation and transport are being upgraded to cope with the demands of mass tourism from hosting major worldwide sporting events. The benefits of renewed interest in the region and continued mass market opportunities will assist buy-to-let investors, along with improving exit strategies to early investors.
Renovations and upgrading of airports around the country are being planned, along with new transport networks such as the high speed trains between Rio de Janeiro and Sao Paolo.
Modern infrastructure developments have so far only been carried out in the north-east, where recent interest in tourism and real estate investments have been attracting strong influxes of European and North American investors.
The infrastructure developments will provide long awaited upgrades around the country, enabling improvements and modern construction. All of the upgrades, tourism, economic growth and awareness will be highly beneficial for present and future real estate investors to the country. Infrastructure and construction will also benefit the domestic population, assisting the growing nation of increasingly middle class residents.
Considered to present an important transformational opportunity for foreign investment in Brazil, the expected influx of buyers in the coming years will assist with bringing Brazil into an established market status.
Source
The recent news that Brazil is to host the 2016 Olympic Games in Rio de Janeiro extends as not only fantastic opportunities for the country in the sectors of economy, tourism, infrastructure and sporting awareness, yet also foreign investment.
Brazil won the victory to host the Olympics against Chicago, Madrid and Tokyo, all located in countries that have hosted the games in the past. Following three previous attempts to become a host country, Brazil has finally won. Especially beneficial to Brazil is the Olympic bid win following the FIFA World Cup host position. The two highly important sporting events will be held within two years of each other, creating a wealth of growth opportunities throughout the country.
Having been positioned as one of the world’s largest economies for several years, predictions on economic growth for 2010 has began to soar following the Olympic hosting announcement. Even the Sao Paolo stock exchange has seen impressive growth in the days immediately following the announcement, especially in companies relating to tourism and infrastructure.
The growth of Brazil’s economy will assist with continued strength in the country’s real estate market. These increases are beneficial to investors for strong and steady capital appreciation potential.
Tourism clearly receives immediate benefits from the sporting events, set to increase considerably during the lead up. Accommodation and transport are being upgraded to cope with the demands of mass tourism from hosting major worldwide sporting events. The benefits of renewed interest in the region and continued mass market opportunities will assist buy-to-let investors, along with improving exit strategies to early investors.
Renovations and upgrading of airports around the country are being planned, along with new transport networks such as the high speed trains between Rio de Janeiro and Sao Paolo.
Modern infrastructure developments have so far only been carried out in the north-east, where recent interest in tourism and real estate investments have been attracting strong influxes of European and North American investors.
The infrastructure developments will provide long awaited upgrades around the country, enabling improvements and modern construction. All of the upgrades, tourism, economic growth and awareness will be highly beneficial for present and future real estate investors to the country. Infrastructure and construction will also benefit the domestic population, assisting the growing nation of increasingly middle class residents.
Considered to present an important transformational opportunity for foreign investment in Brazil, the expected influx of buyers in the coming years will assist with bringing Brazil into an established market status.
Source
Sunday, October 11, 2009
After Olympic party, hard work ahead for Brazil
By TALES AZZONI - Associated Press Writer
RIO DE JANEIRO — As Rio awoke from a night of celebration after being awarded the 2016 Olympics, Brazil was already looking ahead to years of hard work in what will be a historic time in Latin America's biggest nation.
The world's two biggest sporting events will take place in Brazil a few years from now - the 2014 World Cup and the 2016 Olympics - and the country has little time to spare.
"We know the IOC decision has increased our responsibility," Brazilian President Luiz Inacio Lula da Silva said. "We know what we need to do. The word from now on is work, work and work."
Critics have questioned whether Brazil's infrastructure can handle such large events, and whether the country is safe enough to welcome the participants and tens of thousands of visitors into the country. Others say the events will help Brazil's emerging status as a world power - with the country predicted as the world's fifth-largest economy by 2016 - and serve as a catalyst for change and improvement to more than 190 million people.
"Brazil needed the Olympics. We needed this challenge," Silva said in Copenhagen just hours after Rio beat Madrid, Tokyo and Chicago. "We only needed one chance to prove that we are a great nation and that we have the capacity to do well just like any other country in the world."
Soccer's governing body FIFA awarded Brazil the World Cup in 2007 for the first time since 1950, and the International Olympic Committee on Friday decided to bring the games to South America for the first time.
It will be the fourth time the same nation hosts the Olympics and World Cup consecutively - Mexico did it in 1968 and 1970, Germany in 1972 and 1974 and the United States in 1994 and 1996.
"That's something I didn't think I would see one day in Brazil," 78-year-old retiree Claudio Correa said Saturday while strolling on Ipanema beach. "Two big events like these right here. It certainly puts Brazil's name right up there."
Silva said that in addition to giving Brazil the status of a "first-class nation," the high-profile competitions also give Brazil a boost in pride and self-esteem.
"No one is happier than Brazil's people," Silva said. "But maybe because we were a colony for such a long time, we always had this sense of inferiority, of not being important. We always thought that we couldn't do what the others could."
With a sound technical project and a lot of passion, the Brazilians and Rio de Janeiro convinced the IOC they were finally ready to host the Olympics, after failed attempts in 1936, 2004 and 2012.
But there is a lot to do before Brazil is ready to stage the two major competitions.
Despite natural beauties and fun-loving people, the nation also has to deal with poverty, violence and other problems inherent to a developing country. Among the problems that will have to be addressed ahead of 2016 are security and transportation.
"We'll have to sleep less and do more," Silva said.
Officials are already getting to work, and members of the new Rio 2016 Organizing Committee met with IOC officials on Saturday in Copenhagen to discuss future actions. Committee President Carlos Arthur Nuzman said several meetings in the next few days will be needed to begin organizing the city's plans.
Back home, media praised Rio's achievement with front-page headlines across the nation.
"Rio deserves it," the O Dia daily said.
The sports daily Lance wrote that the "The dream became reality."
Some analysts, however, pointed to the challenges and possible drawbacks the country will have by organizing two major competitions in a short period of time.
"This decision is great and we have to celebrate," columnist and TV commentator Antero Greco said. "But we know there will be a lot of public money involved in these competitions and we have the responsibility to make sure this money is going to be well used."
There was a lot of criticism because of a budget overrun following the 2007 Pan American Games in Rio, and there are concerns the same may happen with the Olympics, which will cost Brazil $14.4 billion.
A study by Brazil's sports ministry said the games are expected to create 120,000 jobs each year across Brazil until 2016, plus 130,000 jobs per year the following 10 years. Tourism also likely will get a boost, as will the hotel industry.
In addition, funding to crime-fighting programs has already been granted to Rio and more is on the way. The city will likely host the World Cup's main media center and FIFA's headquarters in 2014.
The Cariocas, as Rio citizens are known, celebrated wildly on Copacabana when IOC President Jacques Rogge announced Rio as the winner Friday. The party then moved to the beachside bars for the traditional choppe (draft beer) and caipirinha - a Brazilian cocktail made from sugarcane liquor, fresh fruit, sugar and ice.
"There is a lot of reason for Brazilians to be celebrating," said 25-year-old Ecuadorean Gabriela Baroja. "Brazil will become a better country."
Source
RIO DE JANEIRO — As Rio awoke from a night of celebration after being awarded the 2016 Olympics, Brazil was already looking ahead to years of hard work in what will be a historic time in Latin America's biggest nation.
The world's two biggest sporting events will take place in Brazil a few years from now - the 2014 World Cup and the 2016 Olympics - and the country has little time to spare.
"We know the IOC decision has increased our responsibility," Brazilian President Luiz Inacio Lula da Silva said. "We know what we need to do. The word from now on is work, work and work."
Critics have questioned whether Brazil's infrastructure can handle such large events, and whether the country is safe enough to welcome the participants and tens of thousands of visitors into the country. Others say the events will help Brazil's emerging status as a world power - with the country predicted as the world's fifth-largest economy by 2016 - and serve as a catalyst for change and improvement to more than 190 million people.
"Brazil needed the Olympics. We needed this challenge," Silva said in Copenhagen just hours after Rio beat Madrid, Tokyo and Chicago. "We only needed one chance to prove that we are a great nation and that we have the capacity to do well just like any other country in the world."
Soccer's governing body FIFA awarded Brazil the World Cup in 2007 for the first time since 1950, and the International Olympic Committee on Friday decided to bring the games to South America for the first time.
It will be the fourth time the same nation hosts the Olympics and World Cup consecutively - Mexico did it in 1968 and 1970, Germany in 1972 and 1974 and the United States in 1994 and 1996.
"That's something I didn't think I would see one day in Brazil," 78-year-old retiree Claudio Correa said Saturday while strolling on Ipanema beach. "Two big events like these right here. It certainly puts Brazil's name right up there."
Silva said that in addition to giving Brazil the status of a "first-class nation," the high-profile competitions also give Brazil a boost in pride and self-esteem.
"No one is happier than Brazil's people," Silva said. "But maybe because we were a colony for such a long time, we always had this sense of inferiority, of not being important. We always thought that we couldn't do what the others could."
With a sound technical project and a lot of passion, the Brazilians and Rio de Janeiro convinced the IOC they were finally ready to host the Olympics, after failed attempts in 1936, 2004 and 2012.
But there is a lot to do before Brazil is ready to stage the two major competitions.
Despite natural beauties and fun-loving people, the nation also has to deal with poverty, violence and other problems inherent to a developing country. Among the problems that will have to be addressed ahead of 2016 are security and transportation.
"We'll have to sleep less and do more," Silva said.
Officials are already getting to work, and members of the new Rio 2016 Organizing Committee met with IOC officials on Saturday in Copenhagen to discuss future actions. Committee President Carlos Arthur Nuzman said several meetings in the next few days will be needed to begin organizing the city's plans.
Back home, media praised Rio's achievement with front-page headlines across the nation.
"Rio deserves it," the O Dia daily said.
The sports daily Lance wrote that the "The dream became reality."
Some analysts, however, pointed to the challenges and possible drawbacks the country will have by organizing two major competitions in a short period of time.
"This decision is great and we have to celebrate," columnist and TV commentator Antero Greco said. "But we know there will be a lot of public money involved in these competitions and we have the responsibility to make sure this money is going to be well used."
There was a lot of criticism because of a budget overrun following the 2007 Pan American Games in Rio, and there are concerns the same may happen with the Olympics, which will cost Brazil $14.4 billion.
A study by Brazil's sports ministry said the games are expected to create 120,000 jobs each year across Brazil until 2016, plus 130,000 jobs per year the following 10 years. Tourism also likely will get a boost, as will the hotel industry.
In addition, funding to crime-fighting programs has already been granted to Rio and more is on the way. The city will likely host the World Cup's main media center and FIFA's headquarters in 2014.
The Cariocas, as Rio citizens are known, celebrated wildly on Copacabana when IOC President Jacques Rogge announced Rio as the winner Friday. The party then moved to the beachside bars for the traditional choppe (draft beer) and caipirinha - a Brazilian cocktail made from sugarcane liquor, fresh fruit, sugar and ice.
"There is a lot of reason for Brazilians to be celebrating," said 25-year-old Ecuadorean Gabriela Baroja. "Brazil will become a better country."
Source
Tuesday, October 6, 2009
Brazil to invest for 2016 Olympics
There is some big news that Brazil is set to invest £9.5bn in infrastructure in hosting the Fifa World Cup in 2014 and the 2016 Olympic Games.
After Rio de Janeiro was announced as the 2016 Olympic Games host city last Friday, the country anticipates a rise in the number of congresses and corporate events in summing up all these sporting events, and a 15% increase in overall number of visitors.
Brazil Tourist Office Director Glauco Chris Fuzinatto said: "It is fantastic news. Infrastructure and accommodation need to be redeveloped and increased, but Brazil has a very good infrastructure for conference and incentive travel events."
The Brazil Tourist Office is also targeting UK buyers with a travel-trade fam trip called Destination Brazil Showcase for 40 UK leisure and corporate travel organisers by end of November.
Source
After Rio de Janeiro was announced as the 2016 Olympic Games host city last Friday, the country anticipates a rise in the number of congresses and corporate events in summing up all these sporting events, and a 15% increase in overall number of visitors.
Brazil Tourist Office Director Glauco Chris Fuzinatto said: "It is fantastic news. Infrastructure and accommodation need to be redeveloped and increased, but Brazil has a very good infrastructure for conference and incentive travel events."
The Brazil Tourist Office is also targeting UK buyers with a travel-trade fam trip called Destination Brazil Showcase for 40 UK leisure and corporate travel organisers by end of November.
Source
Sunday, October 4, 2009
Lula is proudest president in the world after Rio win
By Pedro Fonseca
Brazilian president Luiz Inacio Lula da Silva said he was the proudest president in the world on Saturday, hours after Rio de Janeiro had won the right to host the 2016 Olympic Games.
Although the spotlight was firmly on U.S. President Barack Obama and his wife Michelle's campaign in the Danish capital for Chicago's bid before the vote on Friday, Lula upstaged his counterpart to snatch a historic victory for Rio, which will be the first South American city to host the Games.
"It was extraordinary the emotion we put into our presentation," Lula told reporters. "I almost cried two times during my speech (to the International Olympic Committee)."
"After we won, I was relaxed and cried. I remembered all the things I had gone through in my life, things that apparently were impossible to happen... I am the proudest president in the world," the former steel and union worker said.
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Rio de Janeiro won a resounding vote from the International Olympic Committee, rebuffing Obama, who had lobbied for his adopted hometown, becoming the first sitting U.S. President to attend an IOC session.
Despite the so-called Obama factor, Chicago went out in the first round of voting. Tokyo followed in a second round and Rio won more than twice the number of votes in the last round against its final rival, Madrid.
SOUTH AMERICAN GAMES
Lula, who wept uncontrollably long after the IOC announcement, had been the driving forced behind the bid for the past three years with his strong personal and vocal commitment.
There were no tears on Saturday though as Lula joked with reporters, clearly relishing Rio's victory, and speaking for more than an hour.
"I am realizing only now. During the night I woke several times and could not believe Rio had won," he said.
"The South American countries are feeling they also won, because they will participate as never before. Can you imagine how many Argentines, Uruguayans, Paraguayans and Peruvians will go to Brazil? It is not only a Rio Olympics, it is Brazil's Olympics."
Lula said he had received a congratulatory phone call from Obama, who had left before the voting, as well as most heads of state from South American countries, including Venezuela's Hugo Chavez.
Tropical Brazil will be in the sports spotlight for several years to come with the country also hosting the 2014 soccer World Cup.
Lula joked it was now time to bid for the Winter Olympics as well.
"With the climate change, everything is possible. We already have some places in southern Brazil with snow, so we need just a little more," he said.
(Writing by Karolos Grohmann, Editing by Paul Radford)
Source
Brazilian president Luiz Inacio Lula da Silva said he was the proudest president in the world on Saturday, hours after Rio de Janeiro had won the right to host the 2016 Olympic Games.
Although the spotlight was firmly on U.S. President Barack Obama and his wife Michelle's campaign in the Danish capital for Chicago's bid before the vote on Friday, Lula upstaged his counterpart to snatch a historic victory for Rio, which will be the first South American city to host the Games.
"It was extraordinary the emotion we put into our presentation," Lula told reporters. "I almost cried two times during my speech (to the International Olympic Committee)."
"After we won, I was relaxed and cried. I remembered all the things I had gone through in my life, things that apparently were impossible to happen... I am the proudest president in the world," the former steel and union worker said.
ad_icon
Rio de Janeiro won a resounding vote from the International Olympic Committee, rebuffing Obama, who had lobbied for his adopted hometown, becoming the first sitting U.S. President to attend an IOC session.
Despite the so-called Obama factor, Chicago went out in the first round of voting. Tokyo followed in a second round and Rio won more than twice the number of votes in the last round against its final rival, Madrid.
SOUTH AMERICAN GAMES
Lula, who wept uncontrollably long after the IOC announcement, had been the driving forced behind the bid for the past three years with his strong personal and vocal commitment.
There were no tears on Saturday though as Lula joked with reporters, clearly relishing Rio's victory, and speaking for more than an hour.
"I am realizing only now. During the night I woke several times and could not believe Rio had won," he said.
"The South American countries are feeling they also won, because they will participate as never before. Can you imagine how many Argentines, Uruguayans, Paraguayans and Peruvians will go to Brazil? It is not only a Rio Olympics, it is Brazil's Olympics."
Lula said he had received a congratulatory phone call from Obama, who had left before the voting, as well as most heads of state from South American countries, including Venezuela's Hugo Chavez.
Tropical Brazil will be in the sports spotlight for several years to come with the country also hosting the 2014 soccer World Cup.
Lula joked it was now time to bid for the Winter Olympics as well.
"With the climate change, everything is possible. We already have some places in southern Brazil with snow, so we need just a little more," he said.
(Writing by Karolos Grohmann, Editing by Paul Radford)
Source
Rio Olympics to Boost Brazil Economy, Finance Minister Says
Guido Mantega, Brazil’s Finance Minister, said the hosting of the 2016 Olympics will stimulate economic growth in the coming years.
Rio de Janeiro’s selection yesterday over Chicago, Madrid and Tokyo will spur investment in hotels and infrastructure, Mantega told reporters in Istanbul, where he’s attending an International Monetary Fund meeting. Together with the discovery of oil in the so-called pre-salt area and the hosting of the 2014 World Cup, the Olympic games will enhance Brazil’s global stature, Mantega said.
“It caught me by surprise and we still have to do the math,” Mantega said. “But just like the pre-salt will add 1 to 2 percent to gross domestic product in the coming years, the Olympics and World Cup will each add 1 percent. It won’t be long before we’re growing too much.”
The Finance Minister said he was congratulated by finance officials from China, Russia, and India during a meeting today of the so-called BRIC countries, which was later joined by U.S. Treasury secretary Timothy Geithner.
“Geithner didn’t say a thing, nor did we,” Mantega joked. “You never mention rope in the house of a man who has been hanged.”
Central Bank President Henrique Meirelles said the awarding of the Olympics would help strenghten the economy and encourage investments. He cited a World Bank study showing that Brazil, if it maintains an annual growth rate of about 5 percent, may become the world’s fifth largest economy when the Games open.
“It’s a symbolically important choice,” said Meirelles, who was present in Copenhagen yesterday for the decision by the International Olympic Committee. “One of the worries the IOC had in selecting a host from a southern hemisphere emerging market was related to our financial stability and capacity” to organize the event.
Source
Rio de Janeiro’s selection yesterday over Chicago, Madrid and Tokyo will spur investment in hotels and infrastructure, Mantega told reporters in Istanbul, where he’s attending an International Monetary Fund meeting. Together with the discovery of oil in the so-called pre-salt area and the hosting of the 2014 World Cup, the Olympic games will enhance Brazil’s global stature, Mantega said.
“It caught me by surprise and we still have to do the math,” Mantega said. “But just like the pre-salt will add 1 to 2 percent to gross domestic product in the coming years, the Olympics and World Cup will each add 1 percent. It won’t be long before we’re growing too much.”
The Finance Minister said he was congratulated by finance officials from China, Russia, and India during a meeting today of the so-called BRIC countries, which was later joined by U.S. Treasury secretary Timothy Geithner.
“Geithner didn’t say a thing, nor did we,” Mantega joked. “You never mention rope in the house of a man who has been hanged.”
Central Bank President Henrique Meirelles said the awarding of the Olympics would help strenghten the economy and encourage investments. He cited a World Bank study showing that Brazil, if it maintains an annual growth rate of about 5 percent, may become the world’s fifth largest economy when the Games open.
“It’s a symbolically important choice,” said Meirelles, who was present in Copenhagen yesterday for the decision by the International Olympic Committee. “One of the worries the IOC had in selecting a host from a southern hemisphere emerging market was related to our financial stability and capacity” to organize the event.
Source
Brazil Olympics 'cherry on cake' for stocks
Brazil's winning bid to host the 2016 Olympic Games could attract an even larger number of foreigners to Brazilian stocks, which have already soared 62 percent since the beginning of the year.
News that Rio de Janeiro defeated Chicago, Madrid and Tokyo in a competition to host the games boosted shares of infrastructure and tourism-related companies on the Sao Paulo Stock Exchange on Friday.
Though Fund managers do not expect the benchmark Bovespa index to rally much further in the short term, they see the Olympic games keeping a positive bid in the market.
"Brazil has had a pretty good run-up year to date as it is. This is the cherry on top of the cake," said Ed Kuczma, investment analyst with New York-based fund manager Van Eck Global.
Kuczma, whose firm manages an exchange-traded fund (ETF) dedicated to small- and mid-sized Brazilian companies, noted the Olympic news followed last week's upgrade of Brazil's credit ratings by Moody's, which opened the country to more conservative institutional investors.
Growth forecasts for Latin America's largest economy are also on the rise.
The International Monetary Fund this week said it now expects the economy to grow 2.6 percent next year -- 0.3 percentage points more than it expected just three months ago.
A much more bullish Merrill Lynch on Friday revised its 2010 gross domestic product forecast for Brazil to 5.3 percent from a previous estimate of 4.5 percent.
Higher growth rates in emerging economies make them a must-have for foreign investors seeking higher returns, said Richard Kang, chief investment officer and director of research at Emerging Global Advisors, which manages a series of ETFs with exposure to Brazil.
"And any time they hear some of that news, such as Olympics to Brazil, these are influential stimulus to get people into thinking: 'Just another reason for me to get out there,'" he said.
INFRASTRUCTURE, TOURISM
While the overall stock market may benefit from increased foreign investor interest in Brazil, companies related to the infrastructure and tourism sectors are the obvious winners.
Steel makers such as Gerdau and real estate developers such as Cyrela and Gafisa led gains on Friday following the Olympic news.
Van Eck's Kuczma said Brazilian airlines, such as Tam and Gol could have their earnings estimates upgraded by analysts on expectations of increased tourist inflows.
The same inflow of foreign visitors should boost prospects for companies such as car rental Localiza and airport retail firm Dufry, he added.
Source
News that Rio de Janeiro defeated Chicago, Madrid and Tokyo in a competition to host the games boosted shares of infrastructure and tourism-related companies on the Sao Paulo Stock Exchange on Friday.
Though Fund managers do not expect the benchmark Bovespa index to rally much further in the short term, they see the Olympic games keeping a positive bid in the market.
"Brazil has had a pretty good run-up year to date as it is. This is the cherry on top of the cake," said Ed Kuczma, investment analyst with New York-based fund manager Van Eck Global.
Kuczma, whose firm manages an exchange-traded fund (ETF) dedicated to small- and mid-sized Brazilian companies, noted the Olympic news followed last week's upgrade of Brazil's credit ratings by Moody's, which opened the country to more conservative institutional investors.
Growth forecasts for Latin America's largest economy are also on the rise.
The International Monetary Fund this week said it now expects the economy to grow 2.6 percent next year -- 0.3 percentage points more than it expected just three months ago.
A much more bullish Merrill Lynch on Friday revised its 2010 gross domestic product forecast for Brazil to 5.3 percent from a previous estimate of 4.5 percent.
Higher growth rates in emerging economies make them a must-have for foreign investors seeking higher returns, said Richard Kang, chief investment officer and director of research at Emerging Global Advisors, which manages a series of ETFs with exposure to Brazil.
"And any time they hear some of that news, such as Olympics to Brazil, these are influential stimulus to get people into thinking: 'Just another reason for me to get out there,'" he said.
INFRASTRUCTURE, TOURISM
While the overall stock market may benefit from increased foreign investor interest in Brazil, companies related to the infrastructure and tourism sectors are the obvious winners.
Steel makers such as Gerdau and real estate developers such as Cyrela and Gafisa led gains on Friday following the Olympic news.
Van Eck's Kuczma said Brazilian airlines, such as Tam and Gol could have their earnings estimates upgraded by analysts on expectations of increased tourist inflows.
The same inflow of foreign visitors should boost prospects for companies such as car rental Localiza and airport retail firm Dufry, he added.
Source
Saturday, October 3, 2009
Olympics Facts and Trivias
1. The Olympic flame is a practice continued from the ancient Olympic Games. In Olympia (Greece), a flame was ignited by the sun and then kept burning until the closing of the Olympic Games. The flame first appeared in the modern Olympics at the 1928 Olympic Games in Amsterdam. The flame itself represents a number of things, including purity and the endeavor for perfection. In 1936, the chairman of the organizing committee for the 1936 Olympic Games, Carl Diem, suggested what is now the modern Olympic Torch relay. The Olympic flame is lit at the ancient site of Olympia by women wearing ancient-style robes and using a curved mirror and the sun. The Olympic Torch is then passed from runner to runner from the ancient site of Olympia to the Olympic stadium in the hosting city. The flame is then kept alight until the Games have concluded. The Olympic Torch relay represents a continuation from the ancient Olympic Games to the modern Olympics.The reason the extra yards were added to the running distance of the marathon to make the total length a rather strange figure of 26 miles and 385 yards (42.2 kilometres)? Was because of the rather whimsical demand of Queen Alexandra of Great Britain, who decreed in 1908 that the marathon should end below the royal box at London’s White City Stadium, which added the extra 385 yards!
2. The word "gymnasium" comes from the Greek root "gymnos" meaning nude; the literal meaning of "gymnasium" is "school for naked exercise." Athletes in the ancient Olympic Games would participate in the nude.
3. The first Paralympic Games was held in 1948. The name 'Paralympics' comes from the words 'Parallel' and 'Olympics'.
4. The record for the most gold medals awarded in one Olympic Games went to American swimmer Mark Spitz in 1972. He won SEVEN gold medals! The US swimming sensation Michael Phelps is trying to top that at the Athens Olympics by going for Eight gold medals.
5. The Olympic symbol consists of five circles or rings. These five circles stand for the five continents. The colours in the circle are green yellow, blue red and black.
6. In 1900 Australian Donald MacIntosh came third in the live pigeon shooting event, the first and only time animals were killed on purpose in an Olympic event. Donald won by killing 21 of the birds.
7. The early Olympic Games were celebrated as a religious festival from 776 B.C. until 393 A.D., when the games were banned for being a pagan festival (the Olympics celebrated the Greek god Zeus).
8. The first Olympics covered by U.S. television was the 1960 Summer Games in Rome by CBS.
9. Four Boeing 747 jumbo jets could have fitted side by side in the Olympic Stadium in Australia.
10. Counting Olympiads - An Olympiad is a period of four successive years. The Olympic Games celebrate each Olympiad. For the modern Olympic Games, the first Olympiad celebration was in 1896. Every four years celebrates another Olympiad; thus, even the Games that were cancelled (1916, 1940, and 1944) count as Olympiads. The 2004 Olympic Games in Athens was called the Games of the XXVIII Olympiad.
11. Athletes will produce as much as 2 million pounds of dirty laundry. It would take a family of four 264 years to go through that much laundry!
12. In wrestling at the Stockholm Games in 1912, the light heavyweight final between a Swede, Anders Ahlgren, and a Finn, Ivar Bohling, lasted nine hours. Since neither had gained an advantage over the other, no gold medal was awarded. Each received a silver medal.
13. In 1924 starring in the Olympic pool was young Johnny Weissmuller - forever to be remembered as Tarzan for his later film roles - who won both the 100-metres and 400-metre races, setting world records in both. In the 400 metres, Weissmuller shaved a full 20 seconds off the Olympic record.
14. In 1932 the flagbearer for the Chinese team at the opening Olympic ceremony was sprinter Cheng Chun-liu who was the solitary participant from China.
15. Early in the Helsinki Olympics of 1952, the Soviets didn't pay much attention to the unofficial point totals. But after the ninth day, when they saw their lead over the United States grow to 120 points, they decided to construct a large scoreboard in the dining room of their village. The scoreboard showed the daily point totals of all nations.On the last day of Olympic competition, the U.S. won several gold medals and it seemed certain the USA would overtake the USSR in the point totals. Realizing they were not going to finish ahead of the Americans, the Soviets began dismantling the scoreboard, but not before a reporter for a U.S. newspaper saw the scoreboard and sent out the story.
The headline read, "Russians caught with their points down."
After the Olympics, the Soviet newspaper Pravda, which must have juggled point values until they came out right, announced that the USSR and the USA had finished in a tie, each with 494 points.
16. James B. Connolly (United States), winner of the hop, step, and jump (the first final event in the 1896 Olympics), was the first Olympic champion of the modern Olympic Games.
17. Approximately 2,000 athletes participated, representing 22 countries in the 1908 games held in London. By the 1996 Games held in Atlanta this had risen to approximately 10,000 athletes participating, representing 197 countries.
18. In order for a sport to be considered for inclusion in the Olympics it must be "widely practiced by men in at least 75 countries and on four continents, and by women in at least 40 countries and on three continents".
19. During the Athens Games in 2004, 50,000 meals will be prepared daily at the Olympic Village, utilising 100 tons of food. The Olympic Village will provide accommodation and free-of charge services to 16.000 athletes and team officials.
20. For the first time in 56 years, the Olympic flame passed through London on route to Athens 2004.
21. The Official Olympic Flag - Created by Pierre de Coubertin in 1914, the Olympic flag contains five interconnected rings on a white background. The five rings symbolize the five significant continents and are interconnected to symbolize the friendship to be gained from these international competitions. The rings, from left to right, are blue, yellow, black, green, and red. The colors were chosen because at least one of them appeared on the flag of every country in the world. The Olympic flag was first flown during the 1920 Olympic Games.
22. The Olympic Motto - In 1921, Pierre de Coubertin, founder of the modern Olympic Games, borrowed a Latin phrase from his friend, Father Henri Didon, for the Olympic motto: Citius, Altius, Fortius ("Swifter, Higher, Stronger").
23. The Olympic Oath - Pierre de Coubertin wrote an oath for the athletes to recite at each Olympic Games. During the opening ceremonies, one athlete recites the oath on behalf of all the athletes. The Olympic oath was first taken during the 1920 Olympic Games by Belgian fencer Victor Boin. The Olympic Oath states, "In the name of all competitors, I promise that we shall take part in these Olympic Games, respecting and abiding by the rules that govern them, in the true spirit of sportsmanship, for the glory of sport and the honor of our teams."
24. The Olympic Creed - Pierre de Coubertin got the idea for this phrase from a speech given by Bishop Ethelbert Talbot at a service for Olympic champions during the 1908 Olympic Games. The Olympic Creed reads: "The most important thing in the Olympic Games is not to win but to take part, just as the most important thing in life is not the triumph but the struggle. The essential thing is not to have conquered but to have fought well."
25. The Olympic Flame - The Olympic flame is a practice continued from the ancient Olympic Games. In Olympia (Greece), a flame was ignited by the sun and then kept burning until the closing of the Olympic Games. The flame first appeared in the modern Olympics at the 1928 Olympic Games in Amsterdam. The flame itself represents a number of things, including purity and the endeavor for perfection. In 1936, the chairman of the organizing committee for the 1936 Olympic Games, Carl Diem, suggested what is now the modern Olympic Torch relay. The Olympic flame is lit at the ancient site of Olympia by women wearing ancient-style robes and using a curved mirror and the sun. The Olympic Torch is then passed from runner to runner from the ancient site of Olympia to the Olympic stadium in the hosting city. The flame is then kept alight until the Games have concluded. The Olympic Torch relay represents a continuation from the ancient Olympic Games to the modern Olympics.
26. The Olympic Hymn - The Olympic Hymn, played when the Olympic Flag is raised, was composed by Spyros Samaras and the words added by Kostis Palamas. The Olympic Hymn was first played at the 1896 Olympic Games in Athens but wasn't declared the official hymn by the IOC until 1957.
27. Real Gold Medals - The last Olympic gold medals that were made entirely out of gold were awarded in 1912.
28. The Medals - The Olympic medals are designed especially for each individual Olympic Games by the host city's organizing committee. Each medal must be at least three millimeters thick and 60 millimeters in diameter. Also, the gold and silver Olympic medals must be made out of 92.5 percent silver, with the gold medal covered in six grams of gold.
29. The First Opening Ceremonies - The first opening ceremonies were held during the 1908 Olympic Games in London.
30. Opening Ceremony Procession Order - During the opening ceremony of the Olympic Games, the procession of athletes is always led by the Greek team, followed by all the other teams in alphabetical order (in the language of the hosting country), except for the last team which is always the team of the hosting country.
31. A City, Not a Country - When choosing locations for the Olympic Games, the IOC specifically gives the honor of holding the Games to a city rather than a country.
32. IOC Diplomats - In order to make the IOC an independent organization, the members of the IOC are not considered diplomats from their countries to the IOC, but rather are diplomats from the IOC to their respective countries.
33. First Modern Champion - James B. Connolly (United States), winner of the hop, step, and jump (the first final event in the 1896 Olympics), was the first Olympic champion of the modern Olympic Games.
34. The First Marathon - In 490 BCE, Pheidippides, a Greek soldier, ran from Marathon to Athens (about 25 miles) to inform the Athenians the outcome of the battle with invading Persians. The distance was filled with hills and other obstacles; thus Pheidippides arrived in Athens exhausted and with bleeding feet. After telling the townspeople of the Greeks' success in the battle, Pheidippides fell to the ground dead. In 1896, at the first modern Olympic Games, held a race of approximately the same length in commemoration of Pheidippides.
35. The Exact Length of a Marathon - During the first several modern Olympics, the marathon was always an approximate distance. In 1908, the British royal family requested that the marathon start at the Windsor Castle so that the royal children could witness its start. The distance from the Windsor Castle to the Olympic Stadium was 42,195 meters (or 26 miles and 385 yards). In 1924, this distance became the standardized length of a marathon.
36. Women - Women were first allowed to participate in 1900 at the second modern Olympic Games.
37. Winter Games Begun - The winter Olympic Games were first held in 1924, beginning a tradition of holding them a few months earlier and in a different city than the summer Olympic Games. Beginning in 1994, the winter Olympic Games were held in completely different years (two years apart) than the summer Games.
38. Cancelled Games - Because of World War I and World War II, there were no Olympic Games in 1916, 1940, or 1944.
39. Tennis Banned - Tennis was played at the Olympics until 1924, then reinstituted in 1988.
40. Walt Disney - In 1960, the Winter Olympic Games were held in Squaw Valley, California (United States). In order to bedazzle and impress the spectators, Walt Disney was head of the committee that organized the opening day ceremonies. The 1960 Winter Games Opening Ceremony was filled with high school choirs and bands, releasing of thousands of balloons, fireworks, ice statues, releasing of 2,000 white doves, and national flags dropped by parachute.
41. Russia Not Present - Though Russia had sent a few athletes to compete in the 1908 and 1912 Olympic Games, they did not compete again until the 1952 Games.
42. Motor Boating - Motor boating was an official sport at the 1908 Olympics.
43. Polo, an Olympic Sport - Polo was played at the Olympics in 1900, 1908, 1920, 1924, and 1936.
44. Stadium - The first recorded ancient Olympic Games were held in 776 BCE with only one event - the stade. The stade was a unit of measurement (about 600 feet) that also became the name of the footrace because it was the distance run. Since the track for the stade (race) was a stade (length), the location of the race became the stadium.
2. The word "gymnasium" comes from the Greek root "gymnos" meaning nude; the literal meaning of "gymnasium" is "school for naked exercise." Athletes in the ancient Olympic Games would participate in the nude.
3. The first Paralympic Games was held in 1948. The name 'Paralympics' comes from the words 'Parallel' and 'Olympics'.
4. The record for the most gold medals awarded in one Olympic Games went to American swimmer Mark Spitz in 1972. He won SEVEN gold medals! The US swimming sensation Michael Phelps is trying to top that at the Athens Olympics by going for Eight gold medals.
5. The Olympic symbol consists of five circles or rings. These five circles stand for the five continents. The colours in the circle are green yellow, blue red and black.
6. In 1900 Australian Donald MacIntosh came third in the live pigeon shooting event, the first and only time animals were killed on purpose in an Olympic event. Donald won by killing 21 of the birds.
7. The early Olympic Games were celebrated as a religious festival from 776 B.C. until 393 A.D., when the games were banned for being a pagan festival (the Olympics celebrated the Greek god Zeus).
8. The first Olympics covered by U.S. television was the 1960 Summer Games in Rome by CBS.
9. Four Boeing 747 jumbo jets could have fitted side by side in the Olympic Stadium in Australia.
10. Counting Olympiads - An Olympiad is a period of four successive years. The Olympic Games celebrate each Olympiad. For the modern Olympic Games, the first Olympiad celebration was in 1896. Every four years celebrates another Olympiad; thus, even the Games that were cancelled (1916, 1940, and 1944) count as Olympiads. The 2004 Olympic Games in Athens was called the Games of the XXVIII Olympiad.
11. Athletes will produce as much as 2 million pounds of dirty laundry. It would take a family of four 264 years to go through that much laundry!
12. In wrestling at the Stockholm Games in 1912, the light heavyweight final between a Swede, Anders Ahlgren, and a Finn, Ivar Bohling, lasted nine hours. Since neither had gained an advantage over the other, no gold medal was awarded. Each received a silver medal.
13. In 1924 starring in the Olympic pool was young Johnny Weissmuller - forever to be remembered as Tarzan for his later film roles - who won both the 100-metres and 400-metre races, setting world records in both. In the 400 metres, Weissmuller shaved a full 20 seconds off the Olympic record.
14. In 1932 the flagbearer for the Chinese team at the opening Olympic ceremony was sprinter Cheng Chun-liu who was the solitary participant from China.
15. Early in the Helsinki Olympics of 1952, the Soviets didn't pay much attention to the unofficial point totals. But after the ninth day, when they saw their lead over the United States grow to 120 points, they decided to construct a large scoreboard in the dining room of their village. The scoreboard showed the daily point totals of all nations.On the last day of Olympic competition, the U.S. won several gold medals and it seemed certain the USA would overtake the USSR in the point totals. Realizing they were not going to finish ahead of the Americans, the Soviets began dismantling the scoreboard, but not before a reporter for a U.S. newspaper saw the scoreboard and sent out the story.
The headline read, "Russians caught with their points down."
After the Olympics, the Soviet newspaper Pravda, which must have juggled point values until they came out right, announced that the USSR and the USA had finished in a tie, each with 494 points.
16. James B. Connolly (United States), winner of the hop, step, and jump (the first final event in the 1896 Olympics), was the first Olympic champion of the modern Olympic Games.
17. Approximately 2,000 athletes participated, representing 22 countries in the 1908 games held in London. By the 1996 Games held in Atlanta this had risen to approximately 10,000 athletes participating, representing 197 countries.
18. In order for a sport to be considered for inclusion in the Olympics it must be "widely practiced by men in at least 75 countries and on four continents, and by women in at least 40 countries and on three continents".
19. During the Athens Games in 2004, 50,000 meals will be prepared daily at the Olympic Village, utilising 100 tons of food. The Olympic Village will provide accommodation and free-of charge services to 16.000 athletes and team officials.
20. For the first time in 56 years, the Olympic flame passed through London on route to Athens 2004.
21. The Official Olympic Flag - Created by Pierre de Coubertin in 1914, the Olympic flag contains five interconnected rings on a white background. The five rings symbolize the five significant continents and are interconnected to symbolize the friendship to be gained from these international competitions. The rings, from left to right, are blue, yellow, black, green, and red. The colors were chosen because at least one of them appeared on the flag of every country in the world. The Olympic flag was first flown during the 1920 Olympic Games.
22. The Olympic Motto - In 1921, Pierre de Coubertin, founder of the modern Olympic Games, borrowed a Latin phrase from his friend, Father Henri Didon, for the Olympic motto: Citius, Altius, Fortius ("Swifter, Higher, Stronger").
23. The Olympic Oath - Pierre de Coubertin wrote an oath for the athletes to recite at each Olympic Games. During the opening ceremonies, one athlete recites the oath on behalf of all the athletes. The Olympic oath was first taken during the 1920 Olympic Games by Belgian fencer Victor Boin. The Olympic Oath states, "In the name of all competitors, I promise that we shall take part in these Olympic Games, respecting and abiding by the rules that govern them, in the true spirit of sportsmanship, for the glory of sport and the honor of our teams."
24. The Olympic Creed - Pierre de Coubertin got the idea for this phrase from a speech given by Bishop Ethelbert Talbot at a service for Olympic champions during the 1908 Olympic Games. The Olympic Creed reads: "The most important thing in the Olympic Games is not to win but to take part, just as the most important thing in life is not the triumph but the struggle. The essential thing is not to have conquered but to have fought well."
25. The Olympic Flame - The Olympic flame is a practice continued from the ancient Olympic Games. In Olympia (Greece), a flame was ignited by the sun and then kept burning until the closing of the Olympic Games. The flame first appeared in the modern Olympics at the 1928 Olympic Games in Amsterdam. The flame itself represents a number of things, including purity and the endeavor for perfection. In 1936, the chairman of the organizing committee for the 1936 Olympic Games, Carl Diem, suggested what is now the modern Olympic Torch relay. The Olympic flame is lit at the ancient site of Olympia by women wearing ancient-style robes and using a curved mirror and the sun. The Olympic Torch is then passed from runner to runner from the ancient site of Olympia to the Olympic stadium in the hosting city. The flame is then kept alight until the Games have concluded. The Olympic Torch relay represents a continuation from the ancient Olympic Games to the modern Olympics.
26. The Olympic Hymn - The Olympic Hymn, played when the Olympic Flag is raised, was composed by Spyros Samaras and the words added by Kostis Palamas. The Olympic Hymn was first played at the 1896 Olympic Games in Athens but wasn't declared the official hymn by the IOC until 1957.
27. Real Gold Medals - The last Olympic gold medals that were made entirely out of gold were awarded in 1912.
28. The Medals - The Olympic medals are designed especially for each individual Olympic Games by the host city's organizing committee. Each medal must be at least three millimeters thick and 60 millimeters in diameter. Also, the gold and silver Olympic medals must be made out of 92.5 percent silver, with the gold medal covered in six grams of gold.
29. The First Opening Ceremonies - The first opening ceremonies were held during the 1908 Olympic Games in London.
30. Opening Ceremony Procession Order - During the opening ceremony of the Olympic Games, the procession of athletes is always led by the Greek team, followed by all the other teams in alphabetical order (in the language of the hosting country), except for the last team which is always the team of the hosting country.
31. A City, Not a Country - When choosing locations for the Olympic Games, the IOC specifically gives the honor of holding the Games to a city rather than a country.
32. IOC Diplomats - In order to make the IOC an independent organization, the members of the IOC are not considered diplomats from their countries to the IOC, but rather are diplomats from the IOC to their respective countries.
33. First Modern Champion - James B. Connolly (United States), winner of the hop, step, and jump (the first final event in the 1896 Olympics), was the first Olympic champion of the modern Olympic Games.
34. The First Marathon - In 490 BCE, Pheidippides, a Greek soldier, ran from Marathon to Athens (about 25 miles) to inform the Athenians the outcome of the battle with invading Persians. The distance was filled with hills and other obstacles; thus Pheidippides arrived in Athens exhausted and with bleeding feet. After telling the townspeople of the Greeks' success in the battle, Pheidippides fell to the ground dead. In 1896, at the first modern Olympic Games, held a race of approximately the same length in commemoration of Pheidippides.
35. The Exact Length of a Marathon - During the first several modern Olympics, the marathon was always an approximate distance. In 1908, the British royal family requested that the marathon start at the Windsor Castle so that the royal children could witness its start. The distance from the Windsor Castle to the Olympic Stadium was 42,195 meters (or 26 miles and 385 yards). In 1924, this distance became the standardized length of a marathon.
36. Women - Women were first allowed to participate in 1900 at the second modern Olympic Games.
37. Winter Games Begun - The winter Olympic Games were first held in 1924, beginning a tradition of holding them a few months earlier and in a different city than the summer Olympic Games. Beginning in 1994, the winter Olympic Games were held in completely different years (two years apart) than the summer Games.
38. Cancelled Games - Because of World War I and World War II, there were no Olympic Games in 1916, 1940, or 1944.
39. Tennis Banned - Tennis was played at the Olympics until 1924, then reinstituted in 1988.
40. Walt Disney - In 1960, the Winter Olympic Games were held in Squaw Valley, California (United States). In order to bedazzle and impress the spectators, Walt Disney was head of the committee that organized the opening day ceremonies. The 1960 Winter Games Opening Ceremony was filled with high school choirs and bands, releasing of thousands of balloons, fireworks, ice statues, releasing of 2,000 white doves, and national flags dropped by parachute.
41. Russia Not Present - Though Russia had sent a few athletes to compete in the 1908 and 1912 Olympic Games, they did not compete again until the 1952 Games.
42. Motor Boating - Motor boating was an official sport at the 1908 Olympics.
43. Polo, an Olympic Sport - Polo was played at the Olympics in 1900, 1908, 1920, 1924, and 1936.
44. Stadium - The first recorded ancient Olympic Games were held in 776 BCE with only one event - the stade. The stade was a unit of measurement (about 600 feet) that also became the name of the footrace because it was the distance run. Since the track for the stade (race) was a stade (length), the location of the race became the stadium.
Brazil wins the race to host 2016 Olympics
Rio de Janeiro was chosen to host the 2016 Olympic Games yesterday. They first entered the picture as serious contenders when they were chosen by the IOC as one of the four final bidders in June 2008. Brazilian Sports Minister Orlando Silva greeted the news by saying Rio could guarantee the best venues, the best transportation and athletes' security.
People were ecstatic and celebrated at the Copacabana beach when the announcement was made by IOC president Jacques Rogge in Denmark that Brazil won the race to host the 2016 Olympics, beating Madrid in the final round of voting. It will be the first time the Games will be held in South America.
"Cariocas", as local residents are known, jumped and cheered in a Carnival-like atmosphere at the famous Brazilian attraction.
Brazilian President Luiz Inacio Lula da Silva said: "All those people who thought we had no ability to govern this country will now learn that we can host the Olympics.
"There is a lot of work ahead of us and we will start working early. "The Brazilian people are good, generous and the country deserves it. The world has recognized that the time has come for Brazil."
Many residents hope life in Rio will improve considerably when the Olympics reach the city.
"Everyone's hope is for security and transportation to improve in the city, because the daily life of the carioca is very difficult," said Ricardo Chaves, a 47-year-old accountant.
Athlete Denise Lewis, who won gold at the 2000 Sydney Olympics, said giving it to Rio was the right decision.
She told Sky News: "I think it is fantastic. Every Olympiad, you want the Olympic movement to move forward and venture into uncharted territory."
In the final round of voting, Rio polled 66 votes, compared to 32 for Madrid.
Chicago and Tokyo were both eliminated in the race to stage the Games in seven years time.
The US city went out in the first round of voting in Copenhagen, while the Japanese city exited in round two.
Chicago's early departure was a major shock, as it had been considered one of the bookies' favorites.
President Barack Obama had even flown to Denmark to push for the US bid.
He and his wife, first lady Michelle Obama, had made personal appeals on behalf of their hometown.
Speaking about Chicago's early exit, senior Australian IOC member Kevan Gosper suggested Asian voters may have banded together for Tokyo in the first round, at the US city's expense.
"I'm shocked," Mr Gosper said. "The whole thing doesn't make sense other than there has been a stupid bloc vote."
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