The IOC claim the "high profile international nature" of the bid process can be a "significant opportunity for cities, regardless of the outcome.

"It can help drive public engagement while many cities report an increase in tourism,” they claim.

Three of the 2024 cities have already hosted the Olympics, but the reforms of Agenda 2020 have transformed the whole bidding process which is now more "hands on" than ever before.

Winning the Games was a very different matter 111 years ago when Rome was the first of the current bidders to be officially awarded the Games. At the 1904 IOC Session in London, Count Eugenio Brunetta d’Usseaux spoke enthusiastically in favour of Rome.

His city included the picturesque Villa Borghese in its plans. Berlin were also keen but German IOC member Willibald Gebhardt retracted their bid to allow Rome to proceed as host city for 1908. IOC President Baron Pierre de Coubertin called it “a sumptuous toga” for the Olympic movement.

Yet two years later the eruption of Mount Vesuvius caused such widespread destruction in Naples Bay that the Olympic dream was impossible. It would be another 56 years before the Olympic flame finally did burn in the eternal city, although Italians remained enthusiastic supporters of the Olympic movement.

In the 1930s dictator Benito Mussolini hosted the football World Cup in 1934 and wanted the 1940 Olympics too. Tokyo were also bidding and asked the Italian leader to delay until 1944. In the words of the Japanese, Mussolini showed “generous understanding”. The Roman bid for 1944 withered because of the war. 

In May 1953, an "Olympic" stadium in Rome was officially opened with the release of pigeons and balloons in the colours of the Olympic rings before a crowd of 100,000. This would be the centrepiece of a bid for the 1960 Games. Rome faced six other cities but won the day in a third round of voting when they beat Lausanne by 35 votes to 24. They staged imaginative Games set against glorious blue skies and the historic backdrop of the city.

A generation later Rome threw its hat into the ring for the 2004 Olympics but lost out to Athens. They also entered the race for 2020 but to the chagrin of IOC member Mario Pescante, they withdrew before the campaign was complete.

Los Angeles is the only non-European candidate for 2024. They faced a similar situation in the 1920s when they first bid for the Games. All but one previous Olympics had been staged in Europe. At the 1923 IOC session in Rome, William May Garland asked for the award of the 1932 Games to Los Angeles.

The city had founded a Community Development Association and a huge stadium - the Memorial Coliseum - had been built. Coubertin was supportive of an Olympiad in what he called the “New World”. He suggested that henceforth the Americas should have the Games once every third occasion.

“The award proved to be inspirational to Los Angeles," said the organising committee. “Immediately other civic and private organisations, and the populace itself, became "Olympically" minded with a splendid realisation of the responsibility that lay ahead through the award of the Games to the city.”

The 1932 Games were held at a time of worldwide economic hardship but confounded the critics and were a great success.

Before the Second World War, a Southern California Committee for the Olympic Games was set up to try and bring the Games back. Los Angeles even offered to stage the first post war Games in 1948 but the IOC opted for London.

In the 1970s, Los Angeles were candidates three times in a row. Persistence paid off in 1978. The city was unopposed after the Iranian capital Tehran decided not to take their bid to the final stages. Although Los Angeles insisted their Games would not receive a cent of public money, the 1984 Games proved a great success.

Existing facilities were brightly dressed and made a superb TV spectacle. The Games even turned a profit despite a boycott by most Eastern bloc nations. As Lionel Ritchie sang “all night long” at the closing ceremony, many dreamed of the Games returning one day to LA. If successful in 2024, the Coliseum would become the first stadium to be used as the centrepiece three times.

Paris enjoys a special place in the Olympic movement. Pierre de Coubertin was born there and it was at the Sorbonne in 1894 that he founded the IOC. The second Olympics of the Modern Era were awarded to Paris. These were held in conjunction with the Universal Exposition of 1900.

Coubertin viewed those Games as a disappointment, but he was delighted when it was decided that the 1924 Games would also be staged in Paris. They were the the last in his tenure as IOC President.

The centrepiece was the Stade de Colombes. To this day a street outside is named in Coubertin’s honour. Since then the Games have never returned although Paris bid unsuccessfully for 1992, 2008 and 2012.

The Olympic flame has burned twice in Budapest but that was only on overnight stops, first on the relay to Berlin for the 1936 Games and then a similar stopover en route towards Munich in 1972.

Actually staging the Games would be something new for Budapest, but before the First World War, it seemed only a matter of time.

The 1911 IOC Session was in Budapest. At a banquet, Mayor Etienne Barczy outlined his city’s Olympic ambition: "To express our deep gratitude and our inspiration by the peaceful Battle of the Nations - the Olympic Games - and to be faithful to the traditions of our city. May I offer on behalf of Budapest a perpetual challenge for the Olympic Games? I will put the proposal to the City Council and I will send our response at the next Games."

When the IOC met in Stockholm before the 1912 Olympics, IOC member Jules de Mezsa brought a letter formally requesting the 1916 Games. At that meeting, the Hungarians were persuaded to give way to Berlin but the name of Budapest was in the frame alongside Amsterdam and Antwerp as potential hosts for 1920.

War in 1914 took a terrible toll on Olympic athletes. When the guns stopped, Austria- Hungary were excluded from the immediate post war Games as defeated powers.

At the 1930 Congress in Berlin, IOC President Count Baillet-Latour informed his membership that no fewer than nine cities were in the running for 1936. These included Budapest, but eventually the vote came down to Barcelona or Berlin.

Budapest still dreamed of the Games though their pre-war bids came to nothing. In the 1950s, now under Communist rule, they bid again for 1960 but were amongst those who lost out to Rome. Within a year of losing that election, Hungary was in turmoil as Soviet tanks rolled into Budapest.

It was not until 1995 that the full Olympic movement returned to their city for a Session at which the election for the 2002 Winter Olympics host took place. Salt Lake City won, a decision which had reaching consequences...

Hamburg is the latest German city to bid for the Olympics on the international stage. Berlin and Munich were both successful, but a decade ago Leipzig were eliminated at the Applicant City phase in the race for 2012. Munich also tabled an imaginative proposal for the 2018 Winter Games but since then Thomas Bach’s election as IOC President has clearly had an energising effect in Germany. In addition, Claudia Bokel is an important presence on the IOC Athletes Commission.

Even so, Hamburg are set for a referendum at the end of the month, though they already claim substantial public support for their bid.

The IOC believe the “invitation“ phase has ensured every city enters the race with their eyes open. In the past , some were caught unawares by the host city contract. This time it has been published at the very start of the bidding process.

It specifies the composition of the organising committee, its responsibilities and also commits the IOC to a contribution of $1.7billion (£1.1 billion/€1.6billion) “to the success of the Games”.

It also sets out the division of any surplus. The organising committee will retain 60 per cent “to be used for the general benefit of sport in the host country”. The IOC and the relevant National Olympic Committee will split the remainder between them.

As part of the financial arrangement, each host city must lodge an administration fee of $250,000 (£164,000/€232,000), payable in three installments timed with each phase of the bidding process.

There is plenty of information on offer. IOC guidance documents include an “Olympic Games Framework” with advice on what it takes to stage a “Great Olympic Games.”

This looks for a “clear vision” asks for “effective engagement” and “operational excellence” within a balanced budget. It sets great store by delivering a great experience and leaving a great legacy.

The five have all signed up to the rules of conduct which require that “the promotion of a candidature shall take place with dignity and moderation.”

Concerns over treatment of construction workers at recent major sporting events has led the IOC to highlight labour laws. They also point out that “the freedom of media“ is now enshrined in the host city contract. The Olympic charter clause on non discrimination sexual orientation also has “overarching significance for the whole Olympic project".

When the IOC Executive Board meet in December, they will draw lots to decide the order for any visits by evaluation groups. This will also be the order for the final presentation before the vote is taken in Lima.

February 2016 is the deadline for the first part of the candidature file. This is the “Vision, Games Concept and Strategy.”

Where once the bid books themselves were often literally weighty objects, they must now be provided in digital form.

The Evaluation Commission will then produce what is described as “a dashboard report” which will go to the IOC Executive Board. In June, the IOC will decide if any of the candidates are to be dropped. Before the final decision for 2020, Doha and Baku did not make it to the second phase of bidding.

There’ll be more workshops, and the cities will get feedback on their first phase submissions.

Then each will send a small group of observers to Rio to watch at first hand just how an Olympics is run on a day to day level.

Whilst in Rio, further workshops on “Governance, legal and Venue funding” are designed to prepare the cities for their submissions on these areas which have to be in Lausanne by October 7, 2016.

Cities have until February 2017 to submit the third and final phase of their file on “Games Delivery, Experience and Venue legacy.”

The IOC say “All Candidate Cities have been strongly encouraged to focus on legacy and sustainability by placing greater emphasis on the use of existing venues or temporary and demountable venues where no long-term need exists or can be justified.”

All the bidding cities will return to Lausanne a few weeks before the final vote is taken so the IOC members can hear their plans away from the spotlight in Lima on decision day.

The bidding process has always been gruelling for those taking part and will surely be again, even though the number of presentations required of any bidding city has been reduced from nine to three.

Instead of wading through 7,000 pages of technical manuals, the information for would be hosts has been distilled to a mere 500, light reading indeed!

Even so by the time Thomas Bach announces the result , the winners will certainly experience a mixture of elation and sheer exhaustion.