Brisbane hopes its selection as the host city for the 2032 Summer Olympics will encourage other medium-sized cities to bid for the Games.
Previous Olympics have been held in high-profile global cities such as Los Angeles, London, Sydney, Beijing, Seoul and Rio de Janeiro.
Brisbane will host the third Olympics Games to be held in Australia, following Melbourne 1956 and Sydney 2000.
"We want to show the world that mid-sized cities and regions can host the Games without financial distress or missed deadlines," said Queensland state premier, Annastacia Palaszczuk.
Brisbane said it already has 84% of stadiums and event venues in place and could fulfill the International Olympic Committee’s (IOC) wish to limit spending on Games infrastructure and avoid white-elephant projects.
In future, the IOC wants the Olympic Games to be “socially, environmentally and economically sustainable”.
Along with Brisbane, 2032 events will help in Queensland’s tourism hotspots of the Gold Coast and Sunshine Coast.
Brisbane’s selection for the Olympics has been welcomed by Australia’s tourism industry as it grapples with the impact of Covid-19 on visitor numbers.
Tourism and Transport Forum chief executive Margy Osmond said the announcement was a ringing endorsement of Australia’s longstanding reputation as one of the world’s major events capitals and would provide a positive boost for the tourism industry in Queensland and Australia during what has been a period of extreme hardship.
“Many Australians will remember the lasting value and impact that the Sydney Olympics in 2000 had…including the large numbers of long-haul travellers visiting and spending across much of the country well before and after the event.
“Nights in hotels, spending in restaurants and cafes, plane trips between airports large and small, public transport use, cruising trips, visits to attractions and cultural performances, related business events, the list goes on.
“We can expect a similar economic and national morale boost from hosting these Olympic Games in 2032,” Osmond said.
"It will also set up Australia well to secure our slice of the international tourism pie in the long term in what will be a highly competitive post Covid world.”
Paris (2024) and Los Angeles (2028) will be the next Olympic venues after Tokyo.