Queensland is set to make an official bid to host the 2032 Olympic Games, with State Premier Annastacia Palaszczuk confirming the Cabinet had "given the green light to go to the next level for an Olympics in Queensland".
The Queensland Government has spent the past few months looking into the possibility of bidding on the Olympics and a recent cost-benefit analysis highlighted the economic benefits which would be offered to the state.
"Hosting the 2032 Olympics and Paralympics could be a game changer and deliver 20 years of accelerated opportunity for our state," Palaszczuk said. "This is about so much more than a few weeks of sport. It tells the rest of the world we're firmly on the map.
"That's why the Cabinet has today made the decision to continue working towards securing a games and we will continue to work closely with our partners to ensure we receive the financial support we require from all levels of government.
"There's more work to do to ensure we are in a position to put a compelling case to the International Olympic Committee (IOC). We will only proceed if it is in the best interests of Queenslanders."
Queensland's bid is set to involve a state-wide approach, one which would include bringing events to the smaller cities of Cairns, Townsville and the Gold Coast.
In order for the official bid to go ahead, the Federal Government would need to tick it off.
Australia has twice hosted the Olympic Games, Melbourne (1956) and most recently Sydney (2000).