You'd think so, yeah. If their 2016 bid was good enough to get to the final stages, they obviously know what they're doing and/or have greased the wheels sufficiently (I'm not naive, I know there's some less-than-Olympic backroom dealings involved). Of course, by being a finalist with Tokyo and Istanbul, they've reached as far this time around as they did with the 2016 bid.
Wikipedia tells me they're also bidding for the 2022 Winter Games with Barcelona (which would be...interesting). I guess it's actually that that's their last bid, since the current European bids for 2024 are Azerbaijan, France, Germany, Italy, Russia, and the Ukraine.