Australia is set to host its third Olympics after Brisbane secured rights to host the 2032 event, promising south-east Queensland a chance to represent those five iconic rings for the cost of five billion dollars.
International Olympic Committee (IOC) president Thomas Bach confirmed the region’s selection on Wednesday night, six years after Queensland and Brisbane officials launched their bid to host the world’s largest athletics carnival.
“Today’s vote is a vote of trust that Brisbane and Queensland will stage magnificent Olympic and Paralympic Games 2032,” Bach said.
Prime Minister Scott Morrison, who beamed into the ceremony from Sydney, said the selection will be historic “not just for Brisbane and Queensland, but for the entire country.”
“We know the impact on Sydney more than two decades ago was transformative,” Morrison said. “We can now expect a repeat for Brisbane and communities across Queensland.”
The event will usher Queensland into a “golden age,” Premier Annastacia Palaszczuk said in Tokyo, just two days before the Japanese capital opens the 2020 Olympic Games.
The Brisbane project was selected for its focus on financial and environmental sustainability, Bach said.
Previous Olympics have ballooned in cost and waste, leaving host nations on the hook for billions of dollars.
The 2016 Rio Olympics cost grew to US$13 billion ($AU17.6 bilion), with many stadiums falling into disrepair after months after the world’s sporting talent returned home.
The 2020 Tokyo Olympics, which are slated to kick off on Friday after a year-long delay caused by the coronavirus pandemic, are estimated to cost at least US$26 billion ($35.3 billion).
Brisbane’s bid adhered to the Olympics’ new focus on both financial and economic sustainability, Bach said.
“This new approach is lighter, more collaborative, more compact, and has a positive impact,” he added.
Some 84% of venues have already been built or will be temporary, the state government says, with Palaszczuk asserting additional infrastructure in Brisbane, the Sunshine Coast, and the Gold Coast would have been established regardless of the Games.
Infrastructure costs will reportedly be split between both state and federal jurisdictions.
KPMG estimates the Olympics will spark $8.1 billion in financial activity for the state.
IOC delegates overwhelmingly voted in favour of Brisbane’s bid, with the city receiving 72 ‘yes’ votes and five ‘no’ votes, months after Olympic officials signaled the city was leading a one-horse race.
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