In a joint statement issued by members of the Swedish Olympic, Paralympic and the Swedish sports federation they said that a successful bid was only possible if it was "economically feasible."

 

"We could give the world an exciting, innovative project that is both spectacular and be a unique way to bring winter sports into a big city," said the Swedish Olympic Committee in the joint statement.

 

The bid is at a preliminary stage and it is understood that an official bid won't be lodged with the International Olympic Committee until next March.

 

Stockholm's plans come as a blow to Oslo, which yesterday looked the clear favourite after Munich and Davos – its two main competitors – dropped out. 

 

If Stockholm wins, it will be Sweden's first Olympics since it held the summer event in 1912. 

 

It plans to hold the majority of events in the city, with alpine skiing taking place in Åre, 610 kilometres away in the mountains. 

 

A report commissioned by the Swedish Olympic Committee (SOK) estimates that holding the games would cost 9.79 billion kronor ($1.5 billion). 

 

"It (the report) showed that the possibilities are very good  financially, technically and in terms of snow to stage the Games without state funding," added the SOK in the statement.

 

Under IOC rules a certain level of government involvement is required for any country that hosts an Olympic games in order to cover costs if the budget overruns.

 

"It must be economically feasible and does not take resources away from other important areas of society,"  the SOK wrote.

 

A decision as to who hosts the 2022 Olympic Games will be made on July 31st next year in Kuala Lumpur. 

 

Other cities planning to bid include the Ukrainian city of Lvov,  Krakow in Poland, Almaty in Kazakhstan and Beijing in China.  Of those only Almaty has a reputation as a winter sports capital.