SEQ 2032 Olympic Games worth $22b to Queensland
A figure has been placed on the whopping economic benefit a 2032 southeast Queensland Olympic Games would deliver — and it’s not just the southern corner that would benefit.
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QUEENSLAND would reap a $22 billion economic windfall from hosting the 2032 Olympics – and half of that would go to the regions.
The Courier-Mail understands the whopping economic benefit figure is contained in research being undertaken by the Queensland Government as it considers whether to proceed with the 2032 bid.
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The same research indicated the Commonwealth Games was worth about $3 billion to the Gold Coast economy.
Premier Annastacia Palaszczuk expects Cabinet to make that decision within a month.
The research shows that Queenslanders are united in their support for the Olympic bid, but only if it can be proven to be cost-effective.
Under the International Olympic Committee’s new candidature process, the bidding country will likely finish square or make a profit on future Olympic Games.
Queensland would be the recipient of a $US1.9 billion ($2.77 billion) IOC handout to help with a new stadium and athletes’ village, and southeast Queensland already has 85 per cent of the venues required for an Olympics.
Ms Palaszczuk will tell business leaders today at a CEDA lunch that she believes a Queensland Olympic Games would be transformational.
She wants Queenslanders to provide feedback on whether the government should proceed with the bid.
“I think it will be a game-changer,’’ she said.
“But I want to hear what Queenslanders think.
“It’s important that we get Queenslanders on board and supportive.’’
Ms Palaszczuk believes Brisbane is on the cusp of becoming a world-class city, with Queen’s Wharf, a new airport runway, new entertainment centre and cruise ship terminal to be completed by 2023.
The $6 billion Cross River Rail project is also seen as a vital part of the Olympics infrastructure mix.
Under the IOC’s new candidature model, Queensland would need to formally lodge a bid for the 2032 Games before Tokyo in July next year.
Ms Palaszczuk has commissioned a special taskforce to investigate the cost and economic benefits and disadvantages in pursuing an Olympics.
The Federal Government has contributed $10 million to help with the analysis.
The Council of Mayors (SEQ) has been working on a possible Olympics bid since 2015.
It believes a bid would fast-track much needed vital transport infrastructure, including a second M1 and fast train network between the Gold and Sunshine coasts and Brisbane.
Originally published as SEQ 2032 Olympic Games worth $22b to Queensland