Jubilant London has landed the 2012 Summer Olympic Games and New York, Paris, Madrid and Moscow are going through withdrawal pains because they tried so hard to claim what some consider a prestigious prize. All the contenders waged major promotional campaigns, and all had much to offer.

New York, for example, had hoped to land the games as a foundation to finance new stadiums and other infrastructure gems. France was particularly let down because it hoped the Games would boost a flagging economy and calm unsettled political situations. From the outset, it appeared that Madrid and Moscow were almost sure to be also-rans and, at one point recently, Paris thought it was locked in.

But England, which hosted the 1948 carnival, the first after World War II, got a major shot in the arm and says it already had enormous plans for the event. Britain, too, needs an economic boost and hopes to get more young people involved in a true national effort. Although celebration of the Games was eclipsed by news of terrorist attacks in London the next day, Olympic preparations may give the British additional incentive to recover and move forward.

Britain displayed its gallantry during the German Nazi “blitzkreig” in the 1940s. And who can forget the Battle of Britain, keyed by the incomparable thwarting of a planned Nazi invasion because of the noble “few” in the Royal Air Force? The Brits have been through hell on earth before and will rebound and be more dedicated than ever to presenting a great 2012 show.

For years, hosting the Olympics was considered a fabulous achievement. Then came 1972 and the Black September atrocities in Munich. In 1976, Montreal wound up with near a billion-dollar deficit, a debt still being settled.

Came 1980, and the United States boycotted the Summer Games in Moscow because of the Soviet Union’s invasion of Afghanistan. The Soviets were elusive about losses but it was obvious they took a major financial beating.

Things took a decided upswing in 1984 when Peter Ueberroth took charge of the Los Angeles Games, worked miracles in corporate sponsorship and turned a $230 million profit, proceeds of which still finance American athletic programs.

More often than not, countries that have hosted both the winter and summer Games since then have gone deeply into debt, and some have said, given the choice again, they would not act as hosts for a number of reasons. Past problems, of course, did not deter New York, London, Paris, Madrid and Moscow, or Beijing which will host the 2008 Games. Now we hope more than ever than London rises to the 2012 occasion in brilliant and rewarding fashion.

One of the biggest surprises in the Olympic hosting category occurred one year when efforts were being made to bring the Winter Games to Denver. Officials there pondered the prospect, then said they were not interested. They did not want the problems and environmental invasions that the venture would create. Ever since, Denver and Colorado have been quite pleased with their decision.

Will Beijing and London conclude down the line that their efforts were worth it or that they cost too much? Let us hope the British are blessed with great success to compensate for the latest terrorist obscenities.