What 2032 Oympic Games will mean for QLD

An economic analysis has revealed the huge jobs, exports and tourism bonanza Queensland is on the cusp of if we secure the 2032 Olympic Games.

QUEENSLAND is in for a $36.2 billion jobs, export and tourism bonanza if it secures the SEQ 2032 Olympics and Paralympics, the State Government’s economic analysis of the bid shows.

The value proposition blueprint – which won the State Government over into backing the bid – shows an SEQ Games would open up an extra $8.6 billion in increased export opportunities statewide and create an extra, quantifiable economic benefit of $7.4 billion on top of that.

The massive export benefit comes in addition to the already revealed $20.2 billion in international tourist expenditure that any 2032 Games would generate in the decade leading up to the Games and then 10 years after it.

The Value Proposition Assessment blueprint has been released ahead of a top level leadership meeting of key bid partners in Brisbane today. The leadership group includes AOC boss John Coates, Premier Annastacia Palaszczuk, Federal MP Ted O’Brien for the Prime Minister, Lord Mayor Adrian Schrinner and Sunshine Coast Mayor Mark Jamieson. It shows the cost of running the Games would be $4.45 billion, but the State Government and AOC says that would be completely covered by $2.5 billion in International Olympic Committee grants and revenue from ticket sales and sponsorship for the biggest event in the world.

The report also says there are a range of unquantifiable community and health benefits, including increased participation in sport and volunteering and that 80 per cent of venues already exist or could be delivered through temporary solutions.

It also points to the creation of 130,000 direct jobs, including 10,000 in the Games year plus tens of thousands of indirect jobs.

In addition to whole-of-state benefits, the report underlines opportunities specifically for regional Queensland including:

• $10 billion in international tourism spending.

• Procurement and supply chain opportunities for regional business.

• Training and hosting opportunities for international teams.

• Participation in torch relay, cultural festivals and other games activities.

According to the report, Townsville’s new stadium could play host to international teams in the lead-up to the Games, while that city, Cairns and Toowoomba are in the frame to host preliminary football rounds.

Cairns could also use the Games attention to expand its slice of the authentic indigenous First Nations art market, while Townsville could tap into it to expand its burgeoning health care and new-tech opportunities like lithium-ion battery manufacturing.

The SEQ Council of Mayors proposed a Games bid to fast-track new roads and rail with a feasibility study which gathered momentum on the back of The Courier-Mail’s Future SEQ campaign.

In June, The Courier-Mail and sister SEQ mastheads officially backed the bid with front page editorials.

In December, Premier Annastacia Palaszczuk announced Queensland was going for the 2032 Olympics and Paralympics, won over by projections showing billions of dollars extra would pour into the state economy.

The southeast’s infrastructure wishlist includes fast rail connecting the Sunshine and Gold coasts with Brisbane, Ipswich and ultimately Toowoomba as well as upgrading roads and other public transport infrastructure in addition to the State Government’s Cross River Rail and Brisbane City Council’s Metro.

With 80 per cent of actual event infrastructure already in place, south-east Queensland could be in the market for a 65,000 seat stadium and some other, smaller facilities that can be repurposed for community use before and after the Games. Even the main stadium could be repurposed and expanded for the weeks of the Games and Paralympics.

Ms Palaszczuk said yesterday she was determined a Queensland Olympics must be inclusive of the whole state.

“Two things I have said from day one: the benefits of these Games must outweigh the cost, and everyone has to share the excitement and the pride,” the Premier said.

The Value Proposition highlights the IOC’s “New Norm”, which makes hosting the Games much cheaper.

The report highlights the economic benefits achieved from the 2018 Commonwealth Games which returned money to the Government.

Those Games generated a $2.5 billion boost to Gross State Product, including a $1.8 billion boost to the Gold Coast. It lured 1.3 million visitors who spent $1.1 billion in the state plus promoted export and foreign direct investment of $840 million, and provided contracts worth $14 million to Aboriginal and Torres Strait Islander businesses.

Originally published as What 2032 Oympic Games will mean for QLD