Days into the Rio 2016 Olympic Games it seems only fitting to discuss the likelihood of Brisbane or South Queensland hosting the 2028 games. Surely there are only benefits for Brisbane to be seen on such a global pedestal? But seems there is more to it than building a global village and creating a fancy website. Here we explore what a possible 2028 games might mean for our state – the good and the bad.

There has been talk of late about whether Queensland is likely to put in a bid for the 2028 games. According to a recent 9news.com.au report, Brisbane remains in the race to host the 2028 Olympic Games, following a favourable 12-month study into the merits of a potential bid.

The July 28 article claims:

“A preliminary report released today indicated southeast Queensland has the capability to bid for and host the event… the region's mayors have endorsed the report's findings and will decide within weeks whether to begin a full feasibility study to examine the costs and benefits of putting in a bid”. 

A bid will only be made if it is shown that hosting the event will deliver value and benefits to southeast Queensland. Also, what infrastructure is required to host the 2028 games, and what long-term benefits will be gained from this infrastructure?

So far the pre-feasibility report, compiled over the past year, identified the need for a new 60,000-seat stadium and faster rail links between Brisbane, Gold Coast and the Sunshine Coast.

“It is about the long-term benefit of infrastructure,” Brisbane Lord Mayor, Graham Quirk said.

"It's about the long-term tourism and investment opportunities that these type of events bring as well as out of that the long-term employment opportunities."

While it would be a fabulous opportunity for Brisbane to have its name in lights, I guess the real question is whether southeast Queensland or Brisbane will really win from hosting the games.

Do the Olympics actually bring such economic benefits? There are many articles that post opinions for yes and no to this question. While we would love nothing more than to see this fabulous city gain in more ways than one from hosting the 2028 Olympics, let us play devil’s advocate for one minute…

Just take a look at this article published on theconversation.com – it clearly feels that the Olympics does not bring economic growth to the cities that invest their time and resources into hosting the games – such as Sydney in 2000.

Additionally, this article makes a reference to the fact that some cities often end up spending more than 100 per cent their original set budget; putting terrible strain on the host city before the games have even begun. With all the fabulous infrastructural plans we have in place at the moment, Brisbane’s future is already very bright… do we need the Olympics? Will it create jobs and mass influx to our tourism and economy or just create financial strain? - These are all questions that need to be considered.

I guess it all comes down that full feasibility study, which will undoubtedly work out if the pros outweigh the cons. But that alone is not a cheap exercise. If southeast Queensland wish to proceed with the full feasibility study into the merits of hosting the games, this is expected to cost between $2 million and $2.5 million - that works out to approximately 70 cents per person in southeast Queensland.

The decision to proceed with the 12-month long full feasibility study has the support of some majors, it is yet decided as to whether the potential bid would be labelled as a Brisbane or Southeast Queensland one.

Whatever the city decided, they have until January 2018 to express their interest in bidding for the 2028 games, with full bids closing by the end of 2019.

What do you think? Do you think Brisbane should go for gold and apply to host the 2028 Olympic Games or pass the baton to the next person in this competitive global relay?

Olympics aside… winning is winning! Whether you are looking to buy, sell or invest and you want to come out on top with your property, make sure you speak to the professional team at HSBP.

To arrange a personal consultation, call us on 0419 782 133 – and go for gold!