I dare to attempt to initiate an answer though I am not an expert on this subject.
It appears that the phrase 'Chief guest' does not exist at all. It is actually 'Guest of Honor' who addresses at the gathering and officially opens a formal function concluding his speech.
In a sense 'Chief guest' and the 'Guest of honor' are one and the same. Then why the question of difference between these two words arises.
After searching the net for a possible answer I noticed that Chief Guest is not used any where except in India.
So, in Indian context 'Chief Guest' is equivalent to 'Guest of honor'. They use Chief Guest in the sense of 'Guest of honor'. If that is all it would have not been a problem.
But the real confusion arises as both 'Chief Guest' and 'Guest of honor' are being used by Indians for showing some differentiation among the guests invited particularly when there are more number of guests to a formal function.
Since they can not call every one of these eminent personalities invited to the function a 'Chief Guest', it might have been practice in India to use 'Guest of honor' for other eminent people than 'Chief Guests' to show respect.
The 'Chief Guest' in India enjoys/assumes the role what 'Guest of honor' enjoys/assumes else where. And the 'Guest of Honor' is used in India only to give some importance to the guest invited to the function but nothing else and it should not be confused with 'Guest of Honor' used out of India.
Introducing the chief guest is an honor. It is appropriate to give a short resume of this guest including their ties to the body present. In addition, the reason why they are the chief guest should be given.
king of bhutan
The chief guest is more generally known as the "Guest of Honor". At a formal function, one person is usually chosen to introduce the Guest of Honor. A simple introduction may be given and then something to the effect of "It is a pleasure to introduce" before stating the person's name.
A Guest of Honor was created in 1903.
guests-of-honor
Good Morning staffs and student friends and welcome to the honourable premieres in the dias. this fine morning I have the great pleasure of introducing to you the chief guest of this function.
Manhunt - 1959 The Guest of Honor 2-36 was released on: USA: 1961
Having been introduced to the guest of honor I began to mingle in the crowd.
invité d'honneur
Guest of honor
Honor Thompson.
In honor of means, like, that person has done something good and they are being celebrated. Suport means u supprot them.