(Australian Associated Press)
Brisbane will host the 2032 Olympic Games after winning formal approval by the International Olympic Committee on Wednesday.
The Brisbane bid, encompassing south-east Queensland, was ratified by a vote of 87 IOC members at a meeting in Tokyo before the opening of the Games on Friday.
The Brisbane 2032 delegation, including Prime Minister Scott Morrison and Queensland Premier Annastacia Palaszczuk, made a formal final presentation to the IOC meeting.
About the bid:
Queensland Premier Annastacia Palaszczuk and Brisbane Lord Mayor Adrian Schrinner have flown to Tokyo to be part of the presentation, with Prime Minister Scott Morrison to feature remotely.
The bid has detailed a $5 billion cost of hosting the Games in Brisbane, which will be the third Australian city after Melbourne (1956) and Sydney (2000) to host an Olympics.
Bid documents forecast most of the Games income will come from ticket sales of around $1.3b and domestic sponsorship of $1.7b.
The IOC’s global sponsorship would contribute another $446 million.
Worldwide broadcast rights would be worth at least $951m, or 19 per cent of the Brisbane Games’ budget – that figure could grow during future television rights negotiations.
Brisbane’s bid committee has also earmarked spending $690m on existing and new venues and also and temporary infrastructure for various venues.
The bid predicts economic benefits of hosting of around $17b nationally, with about $8b of that for Queensland.
Athletes will stay at villages located in Brisbane (10,729 beds) and the Gold Coast (2,600 beds) with smaller villages on the Sunshine Coast and Wyaralong.