26 September 2023

Olympian value from hosting Games

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Queensland could generate $36 billion from hosting the 2032 Olympic and Paralympic Games a Value Proposition Assessment report has found.

The report identifies $8.6 billion in increased export opportunities; quantifiable economic benefits of $7.4 billion; $20.2 billion in international tourist expenditure and a range of unquantifiable community and health benefits including increased participation in sport and volunteering.

It stated that 80 per cent of possible venues already existed or could be delivered through temporary solutions.

The report pointed to the creation of 130,000 direct jobs, including 10,000 in the Games year, plus tens of thousands of indirect jobs.

“The 2032 Games would be held over three venue hubs — Brisbane, the Gold and Sunshine Coasts — but regional locations continue to be explored,” the report stated.

These included football preliminaries in Toowoomba, Townsville and Cairns as well as sailing in the Whitsundays.

In addition, the report found other venues could benefit through pre-Games training and trial competition as well as cultural and Olympic events.

The report identified Games Organising Committee costs of $4.45 billion offset by an International Olympic Committee contribution of at least $2.5 billion and revenues such as sponsorship and ticket sales.

The assessment report was prepared by the State’s 2032 Taskforce, with input and guidance from relevant Queensland Government Agencies, Australian and Local Government representatives and technical consultants.

According to the report, the next stage will involve finalising the master plan, securing funding and operational service agreements with all levels of Government and confirming the associated costs to the State.

The 20-page document can be accessed at this PS News link.

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