The bid to host the ceremony was withdrawn after the residents of the Polish city voted overwhelmingly against the plan.
The International Olympic Committee (IOC) had initially announced a list of six applicant cities in November 2013.
The curse began in January when Swedish capital Stockholm backed out of its bid citing rising costs. Now, Krakow is the second city to withdraw, leaving four applicant cities Oslo (Norway), Almaty (Kazakhstan), Lviv (Ukraine), and Beijing (China).
The Olympic Committee's problems do not end here. Oslo’s bid to host is also facing severe opposition by the residents and a half of the coalition government. Lviv’s proposal is also unlikely to be accepted due to political unrest in Ukraine.
This leaves China and Kazakhstan to be the only likely contenders. While Beijing hosted the Summer Games in 2008, it seeks to be the only city in the world to host both summer and winter Olympics.
Why does no city want to host the Winter Olympics? The reasons are mainly economic. The rising cost of hosting the games is leading to the increasing unwillingness. For instance, bill for the 2014 Sochi Olympics ran up to approximately $51 billion, while the 2008 Beijing Games cost nearly $40 billion.
It is worrying to see that due to economic recession, international cities are increasingly becoming unable to host the event. In such a scenario, the future of the Winter Olympics seems in jeopardy.