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The International Olympic Committee on Monday awarded the 2026 Winter Olympic games to Milan and Cortina d'Ampezzo in northern Italy over Stockholm and Åre, Sweden.
The big picture: Italy last hosted the games in Turin in 2006, while Cortina's Alpine ski resort was last on the Olympic stage in 1956. The IOC pledged to provide the country with $925 million for operating costs of up to $1.7 billion, AP reports.
Italy will take on hosting responsibilities at a time of economic distress and massive debt, which is playing out in an ongoing dispute over the government's budget-busting with the EU. Still, Milan-Cortina are "two of the richest provinces in Europe," according to Italian Undersecretary of State Giancarlo Giorgetti.
- 85% of local residents in Italy supported hosting compared to 60% in Sweden, which was the runner-up.
What's next: Beijing will host the 2022 Winter Games. In 2020, Tokyo will host the next Summer Olympics, followed by Paris in 2024 and Los Angeles in 2028.