The decision follows the awarding of the 2020 Games to Tokyo, ahead of European challengers Madrid and Istanbul, at the International Olympic Committee (IOC) session in Buenos Aires last Saturday (September 7).

"What happened in Buenos Aires makes me think that Italy can bid for the 2024 Olympics," Letta said.

It was in the 2020 race that Italy last made a bid for the Olympics in the form of Rome, only for it to be dropped because of financial concerns by then Prime Minister Mario Monti.

But the Italian capital's Mayor, Ignazio Marino, has claimed the city is now ready and said he is on the verge of making inroads into the possibility a bid.

"There are the right conditions for Rome to bid to host the Games because the city has all the necessary requirements," he said.

"I'll request a meeting soon with Premier Letta and the President of the Italian Olympic Committee (CONI), Giovanni Malagò."

Italian IOC member Mario Pescante, who resigned as IOC vice-president following Rome's 2020 bid withdrawal, also expressed his confidence in Rome's ability to host the Olympics.

"Premier Letta wanted to give out a signal of optimism about an event that will take place in 2024," he said.

"In this way he's showing that Italy is getting back on track and looking to the future with confidence.

"At the IOC Italy and Rome are well liked."

Mario Monti abandoned Rome's 2020 Olympic and Paralympic bid after
evaluating the costs involved

With there still being another two years before the bid process for the 2024 Games officially gets underway, Rome, which hosted the event in 1960, may not be the only Italian city to put itself forward to the CONI.

Milan is also said to be harbouring plans, but its Mayor Giuliano Pisapia has insisted he will not get into a fight with Rome over the Olympics and Paralympics.

"I've just spoken to Ignazio Marino and I can guarantee that if the 2024 Olympics will be in Italy, there won't be any clash between the cities and we'll take a decision together," he said.

Speaking to insidethegames, a CONI spokesman welcomed Letta's move, but said there will still be some time before an official bid is formed.

"The Prime Minister said no bid [in the 2020 race], now we have the contrary, it is good," he said.

"It is a good statement from our Prime Minister and we have a lot of time.

"We are thinking.

"We are starting but it is too early to say [which city will be put forward]."

Bidding for the 2024 host city will officially begin in 2015, with the winning bid to be announced in 2017 at the 129th IOC Session at a venue to be chosen.

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