Rio de Janeiro is to host the 2016 Olympic Games, the International Olympic Committee (IOC) announced Friday afternoon. The Brazilian city beat Tokyo, Chicago and Madrid in a tight bidding race that ended at IOC's voting session in Copenhagen, Denmark.

Listen to IOC president Jacques Rogge's announcement:

Heavyweights from the worlds of sport and politics were flown in by the final four bidding host cities, including US President Barack Obama and his wife Michelle, supporting the Chicago bid, as well as football (soccer) legend Pele for Rio de Janeiro and King Juan Carlos of Spain for Madrid.

Despite President Obama’s presence, his hometown Chicago lost out during the first voting round. In the second round, Tokyo was eliminated, leaving Madrid and Rio to a Latin clash in the final voting. Ultimately, the 95 IOC members eligible to vote preferred Rio to Madrid. In that final round, Rio got 66 votes while Madrid only got 32.

Rio’s nomination marks the first time ever a South American country will be hosting the Olympic Games.

The Brazilian city now has seven years to prepare the event, having to spend billions on sport facilities, tourist and hotel accommodation and infrastructure.

The 2012 Olympic Games will be held in London.

Watch Rio's official bid video: