Summer Olympics 2032 In Australia's Brisbane To Require $3.3Bln In Funding

Summer Olympics 2032 in Australia's Brisbane to Require $3.3Bln in Funding

MOSCOW (UrduPoint News / Sputnik - 21st July, 2021) The 2032 Summer Olympics in Brisbane will require an operating budget of 4.5 billion Australian Dollars (about $3.3 billion), ABC news reported on Wednesday.

Earlier in the day, Brisbane was voted to be host city for the 2032 Olympics during the International Olympic Committee (IOC) session in Tokyo, held ahead of the 2020 Olympics, due to start on July 23.

The IOC will provide 2.

5 billion Australian dollars in funding, while the rest will be raised from ticket sales and private sponsors.

The Olympic hub will be centered on the refurbished Gabba Stadium and will feature more than 30 venues across southeastern Queensland. The Olympic village is set to become Queensland's largest waterfront urban renewal program, offering modern housing to over 14,000 athletes.

Australia previously hosted the Olympic Games in Melbourne in 1956 and Sydney in 2000.