South America is on the medal table.

Any city that is lucky enough to be awarded the chance to host an Olympic Games by the International Olympic Committee will have an impact, both historically and culturally, as well as financially. Each bidding city must undergo a rigorous application process before the IOC announces the winner,

Alysa Liu delivered the U.S. its first women’s figure skating Olympic gold medal in 24 years, performing a near-flawless free skate Thursday night in a glittering golden dress to upstage Japanese rivals Kaori Sakamoto and Ami Nakai at the Milan Cortina Games .