Los Angeles. Paris. London. Brisbane. After the announcement in July, the Queensland capital will join the list of iconic Olympic cities in 2032. Brisbane will be the 24th city to host the Games and the third capital in Australia after Melbourne 1956 and Sydney 2000.
Premier Annastacia Palaszczuk said that the economic modelling showed the Games has the potential to drive Queensland’s economic recovery for decades. It promises around $8.1 billion in quantifiable economic benefits for Queensland, with an estimated 100,000 jobs and $4.6 billion in tourism revenue.
Brisbane city’s thriving economy is tipped to balloon from $182 billion to $217 billion as Olympics excitement reaches fever pitch. And the liveability of the region is going to increase exponentially, thanks to the $690 million earmarked for new transport infrastructure and sporting venues.
Queensland is also expecting a higher surge in population growth than other states over the coming decade. And this population growth trend will continue long after the closing ceremony so that by 2042, Brisbane will be the same size Sydney is today.
Queensland’s property industry is set to play a crucial role in the urban construction and legacy building resulting from the Games. The significant investment from the government will in turn unlock a period of precinct development never seen before in Australia.
As the main stadium for both opening and closing ceremonies as well as the athletics, the Gabba will be transformed with a billion-dollar makeover. A second M1 highway between Brisbane and the Gold Coast will be constructed, as will a heavy rail line between the Gold and Sunshine Coasts and an Athletes village at Hamilton Portside. Brisbane will continue to evolve before 2032. A perfect leisure destination with an ideal climate and abundant opportunities for property investment, the Queensland capital is ready to shine brightly beneath the global spotlight.
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