The Olympic Games are an international multi-sport event. The Modern Olympic Games were inaugurated in Athens in 1896, and are held at the beginning of every Olympiad. The Games were organized as a summer sports event through 1920. In 1924 the winter games began in Chamonix, France. Until 1992, they were both held in the same year. Since then, the summer games are held during the first year of an Olympiad, the winter games during the third year.
During the ancient times normally only young men could participate. The sportsmen usually competed nude. This was due in part to the weather and also because the festival was meant to be a celebration of the achievements of the human body. Upon winning the event, the victor would have not only the prestige of being in first place but would also be presented with a crown of olive leaves. The olive branch is a sign of hope and peace. While the symbol of the olive branch has carried through from the Ancient Games to the modern reinvention, many other current Olympic symbols are unique to the Modern Olympics. The bearing of a torch, for example, formed an integral part of Greek ceremonies but the Ancient Games did not include a torch-lighting ceremony, nor was there a symbol formed by interconnecting rings.
203 countries currently participate in the Olympics. This is a noticeably higher number than the number of countries belonging to the United Nations, which is only 193. The International Olympic Committee allows nations to compete which do not meet the strict requirements for political sovereignty that many other international organizations demand. As a result, many colonies and dependencies are permitted to host their own Olympic teams and athletes even if such competitors also hold citizenship in another member nation. Examples of this include territories such as Puerto Rico, Bermuda, and Hong Kong, all of which compete as separate nations despite being legally a part of another country. Also, since 1980, Taiwan has competed under the name "Chinese Taipei," and under a flag specially prepared by the IOC. Prior to that year the People's Republic of China refused to participate in the Games because Taiwan had been competing under the name "Republic of China." The Republic of the Marshall Islands was recognised as a nation by the IOC on February 9, 2006, and will compete in the 2008 Summer Olympics in Beijing.