08/13/2011 07:54 EDT | Updated 10/13/2011 05:12 EDT

Istanbul to bid for Olympics in 2020; Turkish city's 5th bid to host games

ANKARA, Turkey - Turkey's prime minister says Istanbul is bidding to host the 2020 Olympic Games.

Recep Tayyip Erdogan formally declared Istanbul's bid Saturday. It is Istanbul's fifth attempt to host the games, after failed bids in 2000, 2004, 2008 and 2012.

Erdogan says, "We are excited because this time we will attain our goal."

Rome, Madrid and Tokyo have already announced bids. Another potential candidate is Doha, Qatar.

South Africa announced it would not bid, but has indicated it could still reverse its decision.

Dubai, in the United Arab Emirates, which has been hit by the global economic crisis, decided not to bid.