Queensland eyes $24.2 bn revenue by hosting 2032 Olympics, Paralympics

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Queensland authorities are optimistic that hosting the 2032 Olympic and Paralympic Games could generate AU$36 billion ($24.2 billion) for the region.

The Value Proposition Assessment forecasts $13.6 billion in additional tourist spending,  besides $5.8 billion in increased export opportunities and $5 billion in economic benefits, according to a State Government report.

The State is also expecting that creating infrastructure and providing other amenities will also generate 130,000 direct as well as “tens of thousands” of indirect jobs.

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 Staging the event would come at ‘no cost’ to Queensland, the report says, with the International Olympic Committee contribution, sponsorships and ticket sales offsetting the expenditure.

Queensland Premier Annastacia Palaszczuk said hosting the Games would spark a “jobs bonanza for all of Queensland, not just Brisbane. The benefits of these games must outweigh the cost and everyone has to share the excitement and the pride.”

Queensland has emerged as the frontrunner to host the 2032 Olympic and Paralympic Games in recent months and officially confirmed its bid in December and would see the Games return to Australia for the first time since being staged in Sydney in 2000.

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