2032 Brisbane Olympics: 4 things you need to know

1. 2032 Olympics: Queensland

It’s called the Brisbane Olympic bid in the media headlines, but it is important to note that the 2032 Australian bid was not made by Brisbane alone. More accurately, Australia’s 2032 Olympic bid was made by Queensland. With Brisbane, Gold Coast and the Sunshine Coast to be the centre of activity, events would also be held in Townsville, Cairns and the Whitsundays.

Queensland’s plan to diversify the Olympic Games is in its favour as the IOC (International Olympic Committee) tend to look for candidates who will benefit from the Olympics post-event.

2. 80% of stadiums are already ready to go

Queensland Premier, Annastacia Palaszczuk pointed out previously that 80 per cent of the venues required for the Olympic Games are ready to go in Queensland. Her statement references the recent 2018 Commonwealth Games held in the Gold Coast and surrounds, for which sporting venues, stadiums and infrastructure have already been developed.

Griffith University also estimates that the Commonwealth Games alone provided a $2.5 billion boost to the Queensland economy.

It is also important to note that these existing developments are not remaining idle post-Games, but are currently being fully utilised by local communities. As the IOC and Olympic Games moves towards sustainable development, Queensland’s strong sporting infrastructure and capability to utilise existing developments is a major advantage.

3. Who were Queensland’s bidding competitors?

The Games have in some sense been Queensland’s to lose; in February the IOC named Brisbane as its preferred bidder.

Cities in India, Indonesia, Qatar, Spain and a region of Germany registered their interest but their bids did not advance to the IOC board approval stage.

4. How will this impact Queensland, Brisbane and the Gold Coast?

The Olympic Games has always invited sceptics about its economic benefits, but for Queensland, the 2032 Olympics is perfectly timed with current multi-billion pipelines covering Queensland’s transport, tourism and residential infrastructure. In addition, the bid’s masterplan also reveals that, Queensland will develop additional athlete villages, rapid rail network from Brisbane to Gold Coast and a second M1 Highway, all of which would provide longer-term benefits to residents in Australia’s 3^rd largest city.

A Government study has predicted that the Olympics could generate up to 129,000 jobs in tourism, hospitality and construction and see a $20 billion uplift in tourism from 2021-2036. Similarly, like Sydney’s 2000 Olympic Games, which put the city on the map, Queensland’s successful bid for the Olympic Games will greatly impact Queensland’s economic landscape in the long term and dramatically speed up the region’s development process.

With Sydney still benefiting from hosting the Olympic games in 2000, Queensland’s bid for the Olympic Games is a testament to the growth and development of the state and its major cities. As Australia’s third and sixth largest cities, Brisbane and the Gold Coast look promising as two cities filled with potential.

Take a look at our city report to find out the latest on investing in Brisbane.