The Helsinki city council says it believes the gala will bring Finland visibility. More than 800 international journalists attended the 2010 MTV Europe Music Awards in Madrid. Liverpool, which hosted the event in 2008, gained more than 10 million pounds from the music gala.
Helsinki has calculated that hosting the show would make a 750,000-euro-dent in the city's coffers. But the city is looking for the state to cover these costs.
The city council on Monday approved a new strategy that seeks to attract internationally significant events to Helsinki.