Brisbane, Wins Bid To Host, 2032 Olympics.
Brisbane, Wins Bid To Host, 2032 Olympics.
On July 21, the International Olympic Committee announced that Australia will host the 2032 Summer Olympic Games.
NPR reports that the Brisbane Games will be the third time Australia has hosted the world's largest sporting event.
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Brisbane will also host the Paralympic Games.
Our purpose was to seek an amazing, once-in-a-lifetime opportunity for our region and for our city, Adrian Schrinner, lord mayor of Brisbane, via Twitter.
According to Schrinner, hosting the Games will provide an $8.1 billion boost to the Queensland region economy.
'The Guardian' reports that the estimated cost to prepare Brisbane for the event is about $5 billion.
NPR points out that it remains unclear if Olympic host cities actually gain economically from holding the event.
According to the Council on Foreign Relations, the Rio de Janeiro 2016 Games left the city with crippling debt and high maintenance costs for abandoned facilities.
According to the Council on Foreign Relations, the Rio de Janeiro 2016 Games left the city with crippling debt and high maintenance costs for abandoned facilities.
The organization also pointed to the 1976 Summer Olympics in Montreal that "came to symbolize the fiscal risks of hosting." .
The organization also pointed to the 1976 Summer Olympics in Montreal that "came to symbolize the fiscal risks of hosting." .
The projected cost of preparing the city for the Games, $124 million, was billions below the actual cost.
The projected cost of preparing the city for the Games, $124 million, was billions below the actual cost.
The city's taxpayers were left with some $1.5 billion in debt that took nearly three decades to pay off.
Australia previously hosted the Olympic Games in Melbourne in 1956 and Sydney in 2000.
Australia previously hosted the Olympic Games in Melbourne in 1956 and Sydney in 2000.
Paris is set to host the 2024 Olympics.
Milan and Cortina d'Ampezzo in Italy will host in 2026.
And Los Angeles will host in 2028.
Beijing is hosting the 2022 Winter Olympics
