Rio de Janeiro will host the 2016 Olympics after favourites Chicago suffered a crushing defeat. The Brazilian city will become the first South American city to host the Games after an historic vote by the International Olympic Committee. IOC president Jacques Rogge, who opened the envelope containing the name of the winning city, said: ``All four projects are of the highest quality - thank you for your hard work, energy and commitment. But in every competition there can only be one winner.''