On Wednesday the International Olympic Committee will announce the host city for the 2018 Winter Olympics, with Pyeongchang, South Korea, Munich, Germany, and Annecy, France, considered the frontrunners.

Rob Livingstone of GamesBids.com, a website for Olympics news, says the competition, primarily between Munich and Pyeongchang, will come down to the wire. “Pyeongchang is hugging the rail, ahead by a nose,” he wrote in his blog last week. “Munich is approaching from the outside, gaining ground.”

Pyeongchang bid unsuccessfully for the 2010 and 2014 Games. As part of the current bid, South Korea created a $1.6 billion Olympic village that was inspired by the look of Aspen, Colorado. To date Japan is the only Asian country to host the Winter Games.