• Brisbane is all-but certain to host the 2032 Olympic and Paralympic games after the International Olympic Committee (IOC) formally recommended the city’s bid.
• The plan was praised for its promise to keep costs down by using pre-existing stadia, and its appeal to a sports-mad nation
• The bid is expected to run unopposed when IOC members deliver a final vote on July 21.
• Visit Business Insider Australia’s homepage for more stories.

Brisbane is just one step away from hosting the 2032 Summer Olympic and Paralympic Games, after the executive board of the International Olympic Committee (IOC) formally backed the city’s proposal.

After rounds of vetting confirmed Brisbane and South East Queensland as the sole frontrunner, the sporting body announced on Friday that the city’s bid will be recommended to IOC members before a final vote on July 21.

Brisbane’s bid will likely become the first put to a vote without any opposition, after the IOC tweaked its selection criteria to cut down on costs.

“This unanimous decision by the Executive Board is a credit to the years of work carried out by Brisbane 2032, the Australian Olympic Committee, and their partners, to test every aspect of the project,” the organisation said.

Brisbane’s bid was praised for its appeal to a sports-mad nation, its promise to rely on pre-existing and temporary venues, and support from all three levels of government.

The IOC also nodded to support from the private sector, while estimating the event would generate US$6.1 billion ($7.8 billion) for Queensland, and US$13.4 billion (AU$17.2 billion) for Australia more broadly.

Forecasting the economic benefits of the Olympic Games is a fraught endeavour.

Analysis shows the 2000 Sydney Olympics, the last held in Australia, cost around $6.5 billion — without counting expenditure on extra infrastructure and transportation services.

Australian Olympic Committee president John Coates — who led the Brisbane bid — has previously claimed the South East Queensland event would “break even”.

LNP MP Ted O’Brien, who has served as Prime Minister Scott Morrison’s representative through the bidding process, nevertheless vouched for the project’s financial viability and return on investment.

“Securing this event won’t just give us something to aim for — but just as we saw at the Sydney Olympics — it will have a long-lasting impact,” he said in a statement.

“Importantly, the Games are projected to generate billions of dollars of economic output for Queensland and Australia as well as tens of thousands of jobs.”

If successful, Brisbane will follow Paris, which is scheduled to host the 2024 Olympic Games, and Los Angeles, set to host for the third time in 2028.

Before that, the Tokyo 2020 Olympic Games, delayed by a year due to the coronavirus pandemic, will open on July 23, despite widespread opposition from the Japanese population.

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