Budapest has entered an increasingly crowded race to host the 2024 Summer Olympics, characterizing itself as the scrappy, little underdog.
Officials from the Hungarian capital announced Wednesday they had sent a letter to the International Olympic Committee stating their intentions.
Paris, Rome, Hamburg and Boston already have launched campaigns.
Istvan Tarlos, the mayor of Budapest, said his city hopes to beat out "the biggest and richest countries in the Olympic planning monopoly."
The emergence of yet another candidate figures to be welcome news for the IOC. Recently, a spate of potential hosts withdrew from consideration for the 2022 Winter Games, citing concerns over cost.
The IOC recently passed a series of reforms that, in part, seek to reduce the expense associated with staging one of the largest and grandest sporting events in the world.
A recent poll showed that two-thirds of Hungary's residents favor hosting the Games, Olympic officials in the Central European country said.
Candidate cities have until mid-September to submit official applications. The IOC is scheduled to select a host in 2017.