The Hungarian Olympic Committee (HOC) has established an eight-member committee to look into the possibilities of hosting the 2032 Summer Olympics in Budapest, reported multiple media agencies including Xinhua News Agency and Associated Press.

Attila Szalay-Berzeviczy, former President of the Budapest Stock Exchange, was appointed to lead the committee. According to him, a feasibility study will take until next year.

"The exclusive objective of the committee is to thoroughly examine the possibility for Budapest to submit its candidature for the right to host the 2032 Summer Olympic Games. The main task is to create a comprehensive feasibility and macroeconomic impact assessment, a complex task that is estimated to take one and a half years," said Szalay-Berzeviczy, who is the great, great grandson of Albert Berzeviczy, the first president of the HOC. 

Hungary has never hosted the Olympics before but Budapest bid in 1916, 1920, 1936, 1944 and 1960. Viktor Orbán, prime minister of the country, said he would "like to live to see Hungary hosting the Olympics." Considering that Tokyo, Paris and Los Angeles will host the following three editions, the one in 2032 may be Budapest's chance.

"Members of the newly founded committee are accomplished captains of industry whose membership guarantees the professional and scrupulous conduct of this study," said Krisztián Kulcsár, president of the HOC.

Competitors Budapest may face include Brisbane of Australia and the Rhine-Ruhr metropolitan region of Germany. Indonesia, Qatar and India have expressed interest in the bidding as well.

The Tokyo Olympics was supposed to take place in 2020 but was postponed by a year because of the COVID-19 pandemic. Though the Japanese government has repeatedly promised that the Games will happen, reports say the current coronavirus situation in the country, especially in Tokyo, has not given many reasons to stay positive.