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