Berlin and Hamburg are the two cities considered to host the Games with a decision on who the German Olympic Sports Confederation (DOSB) will put forward set to be decided on March 21, 2015.
Both cities outlined concept proposals for a bid last month. Berlin has previously put a figure of €2.4 billion (£1.9 billion/ $3.1 billion) on hosting the Games.
The German capital would spend €250 million (£197 million/ $318 million) on upgrading 15 existing sports facilities and €1 billion (£790 million/$1.3 billion) building temporary ones for the Games.
According to DOSB president Alfons Hoermann, “Olympic and Paralympic Games are the most important events for German sports”.
“Sustainable Olympic and Paralympic Games are a chance for the entire country and especially for the city hosting the Games and its region. From Munich 1972 to London 2012 it becomes clear what they can trigger in the economy and society if well conceived and executed.”
The US is reportedly planning a bid to host the 2024 Games, while Paris, Doha, Istanbul, Rome, and South Africa, are also considering entering the race.