GOVERNMENT has pronounced the 123rd International Olympic Committee session a resounding success and believes the historic gathering held in Durban is a great vehicle to promote the country.

The week-long IOC session ended on Saturday with the South Korean city of PyeongChang winning the right to host the 2018 Winter Olympics.

"As South Africa, we are happy the 123rd IOC Session has been a resounding success and it has also helped to market tourism in Durban and promote South Africa in general," Sport and Recreation Minister Fikile Mbalula said.

"This historic gathering has also helped to showcase the kind of world-class facilities we have in South Africa. It was the first time such an event took place in Africa.

"We were happy to hear the IOC president Jacques Rogge and other influential people saying they want to see Africa bidding to host the Olympics.

"While we acknowledge that cabinet took a decision not to bid for the 2020 Olympics, we are going to engage them with a view to review their decision.

"Hosting the Olympics is not expensive like staging the Fifa World Cup because the IOC is investing a lot of money into their competitions."

German soccer legend and former Fifa executive member Franz Beckenbauer has also urged South Africa to bid for the Olympics.

"South Africa is one of the best countries in the world and I was here last year for the Fifa World Cup and enjoyed my stay. I strongly believe South Africa must bid for the Olympics and Durban is a wonderful city to host the Games," Beckenbauer said.

Mbalula, who met Prince Albert of Manaco in Durban, said South Africa has until September 1 to decide on their Olympics' bid.

Mbalula congratulated the Republic of Korea for winning the 2018 Winter Olympic Games.

It was third time lucky for Korea who have made two unsuccessful before finally clinching this one.

"We join the people of Korea in celebrating the 2018 Winter Olympics bid success and we are confident they will organise a great event," he said.