Australia To Host The Olympics For The Third Time In 2032 After Brisbane Wins Its Bid

PHOTO:President of the International Olympic Committee Thomas Bach announces Brisbane as the 2032 Summer Olympics host city during the 138th IOC Session at Hotel Okura in Tokyo, Wednesday, July 21, 2021. Toru Hanai/AP

In summer 2032, the world’s largest sporting event will head to Brisbane, Australia.

The International Olympic Committee announced Wednesday in Tokyo that Australia will host the Summer Olympic games for the third time.

Brisbane will also host the Paralympic Games.

Adrian Schrinner, the lord mayor of Brisbane, said the effort to make Brisbane a host city began six years ago under his predecessor.

“Our purpose was to seek an amazing, once-in-a-lifetime opportunity for our region and for our city,” Schrinner said in a message shared on Twitter celebrating the announcement.

He said hosting the Olympics and Paralympics will provide an $8.1 billion boost for the Queensland region economy. According to The Guardian, the estimated cost to prepare Brisbane for the event is $5 billion.

Whether Olympic host cities actually gain economically from holding the event is unclear, according to some reports.

The Council on Foreign Relations, a nonpartisan think tank, said the Rio de Janeiro 2016 games left the city struggling with debt and high maintenance costs for abandoned facilities just one year after the event.