Rio won the campaign in the last round after netting 66 votes against Madrid's 32. The Rio bid team played economy and geography cards in its final presentation to win the bid.

In a passionate speech, Brazilian President Luiz Inacio Lula daSilva told IOC members that his country is experiencing a "magical moment" of economic development.

Reisdents celebrate after Rio de Janeiro won the bid to host the 2016 Summer Olympic Games, on Copacabana beach in Rio de Janeiro, Brazil, Oct. 2, 2009

Silva, known as Lula, made a strong urge to the voters to choose Rio as the host of a Games. "I ask for your support and vision. Rio is ready. If you give us this chance, you will not regret," he appealed, saying that the Brazilian people were full of "passion, energy and creativity".

He also stressed that Brazil and South America have never hosted an Olympic Games.

"It is time to address this imbalance," he urged. "I honestly believe it is Brazil's time. Among the countries that today compete to host the Games, we are the only one that has never had this honor."

Reisdents celebrate after Rio de Janeiro won the bid to host the 2016 Summer Olympic Games, on Copacabana beach in Rio de Janeiro, Brazil, Oct. 2, 2009

"For others it will be just one more Games," he noted, "For us, it will be an unparallel opportunity." "It will boost the self-esteem of Brazilians" , "consolidate recent achievements" and "inspire new ones".

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