ATR First: Queensland Will Reap Billions from 2032 Olympics

(ATR) Queensland and the rest of Australia is set for a post-covid economic and social bounce from the 2032 Olympic and Paralympic Games, according to an independent report released by the IOC in Lausanne.

The research, authored by Brisbane-based sports economist Ron Zubrik and colleagues at KPMG, concludes that the global value of the Olympic brand will ensure Brisbane and neighboring regions will realize an economic bonanza in the coming decade – and beyond.

Zubrik, who worked in London, Cologne and the U.S. prior to heading KPMG’s Australian sports practice, concludes that the Games would deliver a total benefit of $AUS 8.1bn for Queensland and $17.61bn for Australia - and create 91,600 years of full-time equivalent jobs for Queensland.

The analysis considered general impacts over a 20-year time period including the ten years leading up to the Games, the Games event, and the 10 years post the Games - from 2022 to 2042.

KPMG listed the Sunshine State’s tourism and associated trade benefits as a particular opportunity.

"A Games-induced uplift in international tourism and trade is estimated to contribute to an uplift in Queensland’s Gross State Product (GSP) in the order of $4.60 billion, which is more than half the estimated $8.50 billion uplift in overall GDP at the national level," concluded Zubrik.

Additionally, experts highlighted a "feel good factor" from better transport, health and wellbeing changes brought on by the Games for locals.

"Quantifiable social benefits (that) are estimated to be in the order of up to $3.50 billion for Queensland, and up $9.11 billion at the national level, including….health benefits… resulting from leveraging a 2032 Games to increase participation in physical activity across Queensland and the nation, including lowering the risk of chronic diseases, improving mental health outcomes and enhancing productivity for Queenslanders and Australians….and volunteering benefits…such as self-improvement …and the benefits that accrue to the broader community (from) the direct benefits of the activities undertaken by volunteers in support of the Games)," KPMG said.

The report was released on the day the IOC’s Executive Board proposed that Brisbane’s candidature to host the 2032 Games should go to a vote at the IOC session before the Tokyo Olympic Games next month.

"It is in the hands of IOC members to vote now on July 21," IOC President Thomas Bach said.

"This commission looked in depth in all aspects of Brisbane 2032 ... as well as the strong support across the entire political spectrum in Australia," he said.

Chair of the Future Host Commission for the Games of the Olympiad, Kristin Kloster Aasen, praised expert analysis and submissions and said Brisbane 2032's case aligned with "social and economic development plans".

"The project centers on delivering the best possible conditions for sport and the athletes in a sport loving country with proven experience in hosting successful major sports events such as the Commonwealth Games in 2018," said Aasen, an IOC member from Norway.

"The commission is satisfied that the guarantees provided by Brisbane 2032 are comprehensive and thorough."

The decision still needs to be put to a vote of IOC members in Tokyo on 21 July, but with no other cities left in contention, most Olympic observers believe it will almost certainly be a rubber-stamping exercise.

If confirmed it will be the third time an Australian city has hosted the Olympic Games after Melbourne in 1956 and Sydney in 2000.

Reported by Phillip Pope in Brisbane.

Philip Pope was the Head of Communications at the British Olympic Association from 2001-2005 during London's 2012 bidding phase. He is the former Public Affairs Manager of Cricket Australia and the former General Manager Communications, Queensland Rugby Union. He is currently the Director of Media Services for the Curious Minds Media Agency in Brisbane.