Written by Staff Writer
21 Jul, 2021 | 2:45 pm
The Olympics will return to Australia for a third time after Brisbane was formally awarded hosting rights for the 2032 Games following a vote of International Olympic Committee member nations in Tokyo.
With the Australian city the only bid city still in the running and firmly endorsed by the IOC’s Future Host Commission, Wednesday’s decision was a foregone conclusion.
The 2032 Olympics, the third to be hosted in Australia after Melbourne in 1956 and Sydney in 2000, is estimated to cost $5bn. The majority of this is expected to be recouped through ticket revenue, domestic sponsorship and broadcast rights.
The bid has predicted the Games will bring $17bn in economic benefit, although the Olympic movement is famous for high expectations unmatched by economic reality.
Brisbane will also host the Paralympics, the second time Australia has done so – the first Paralympic Games were held in Rome in 1960.
21 Sep, 2021 | 04:48 PM
23 Jul, 2021 | 12:51 AM
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