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Brisbane has been confirmed as the host of the 2032 Olympic Games, with IOC president Thomas Bach making the announcement on Wednesday night.
Brisbane will host the 2032 Games after winning formal approval by the International Olympic Committee.
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The Brisbane bid, encompassing south-east Queensland, was ratified by a vote of 87 IOC members at a meeting in Tokyo before the opening of the Games on Friday.
The Brisbane 2032 delegation, including Prime Minister Scott Morrison and Queensland Premier Annastacia Palaszczuk, made a formal final presentation to the IOC meeting.
“It’s a historic day not just for Brisbane and Queensland, but for the entire country,” Mr Morrison said.
“Only global cities can secure the Olympic Games – so this is fitting recognition for Brisbane’s standing across our region and the world.
“It also marks an important leap forward for Australia as we look toward major events that lock in economic growth and social benefits that will echo for years to come.
“We know the impact on Sydney more than two decades ago was transformative. We can now expect a repeat for Brisbane and communities across Queensland.
“It’s a proud day for Queenslanders and Australians everywhere.”
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Rather than running against rival candidates, Brisbane needed only ratification at Wednesday's IOC session to win the Games.
The IOC overhauled its bidding rules in 2019 to reduce costs and make the process easier for cities after seeing a number of would-be hosts drop out in preceding years.
The reforms played into Brisbane's hands, with the city named preferred bidder by an IOC commission in February and endorsed by the powerful IOC Executive Board last month.
KPMG has estimated economic and social benefits at $8.1 billion for Queensland and $17.6 billion for Australia.
"We came over on a plane full of athletes and they are all here to compete and do Australia proud," Brisbane mayor Adrian Schrinner told reporters on Monday.
"We're here to compete in a different way, to make sure that Brisbane, Queensland gets the Games in 2032 and we're not taking anything for granted.
"We are here to work, we're here to get the job done and we're here to bring it home."
Several cities and countries had publicly expressed an interest in staging the 2032 Games including Indonesia, Budapest, China, Doha and Germany's Ruhr valley region.
However they all missed out to Brisbane, which will be the third Australian city to host the Summer Games after Melbourne (1956) and Sydney (2000).
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