GUATEMALA CITY, July 5 - The Russian city of Sochi, which will host the 2014 Winter Olympics, will offer online monitoring of venue construction to allow the International Olympic Committee to keep track of progress, its bid leader said.

Speaking after Sochi beat South Korea's Pyeongchang by four votes for the right to stage the Games, bid leader Dmitri Chernyshenko told reporters on Thursday work was starting immediately.

"The IOC will be online every single moment in terms of construction," said a red-eyed Chernyshenko, who had joined his colleagues celebrating Sochi's win into the early hours of the morning.

"There will be live video from all construction sites."

Sochi needs to build the majority of the 11 venues needed for the Games from scratch and the IOC had noted in an evaluation report last month that "tight monitoring" would be needed.

The Russian Black Sea resort will have two sports clusters, one near the city and another in the Krasnaya Polyana mountains.

Chernyshenko said $50 million was already available for the transition period from bid to host city and the first IOC visit to Sochi will be between August 27-29.

Chernyshenko said awarding the Games to Sochi, the first Russian city to win the Winter Olympics, would put the city's development on a fast track.

Seven years of preparations would be the catalyst for 20 years of development, he said.

"It will accelerate the development in the country and change the country."

Chernyshenko said he would now like to head preparations for the Sochi Games after the "once in a lifetime experience" of leading the winning bid for the Winter Olympics.