Brisbane will emerge from the shadows of Sydney and Melbourne after becoming the third Australian city to host the Olympics following the successful bid for the 2032 Games.

Financial stability, sustainability and a sports-mad population were the keys to Brisbane's successful campaign for the Olympic and Paralympic Games in 11 years time.

While criticised for travelling to Tokyo for the IOC meeting and vote in the face of Australia's ongoing COVID-19 battles, Queensland premier Annastacia Palaszczuk helped sell the city's many assets to the International Olympic Committee.

"We pledge to create a successful model under your new host city strategy by showcasing a cost-neutral climate-positive, safe, socially educative and enthralling experience for the whole world," Palaszczuk told the IOC.

"We want to show the world that mid-size cities and regions can host the games without financial distress or missed deadlines.

"The keys are long-term planning, bi-partisan support and making the most of the city's natural and built resources.

"Brisbane will be ready and able to offer the facilities, infrastructure and experience to showcase the world's most important peace time event.

"We want to show that Queensland can offer the Olympic movement, a safe pair of hands."

She boasted of hosting the State of Origin last November, which was the biggest crowd at that point in the pandemic.

Palaszczuk said 80 per cent of all venues were already built or would be temporary while infrastructure would be built "not for the Games, but in time for them".

The venues will be spread across Brisbane, Gold Coast - which hosted the 2018 Commonwealth Games - and the Sunshine Coast.

Palaszczuk said a redeveloped Gabba would host the ceremonies and athletics - fittingly because its Indigenous name means "meeting place".

"In 2032 it will be a symbol for the world to come together," she said.

Athletes will stay at villages located in Brisbane and the Gold Coast with smaller villages on the Sunshine Coast and Wyaralong, also in south-east Queensland.

Brisbane's main Olympics venue - for the opening ceremony and athletics - will be the redeveloped Gabba.

With IOC vice-president and AOC president John Coates in their corner, the Brisbane bid easily swayed the 80 voting members of IOC.

A "climate positive" Games impressed IOC member Prince Albert of Monaco.

Crucially, the Brisbane bid provided financial guarantees from all tiers of government, with Prime Minister Scott Morrison also addressing the IOC in a live crossing from Canberra.

Brisbane is projecting an operating budget of $A4.5 billion, with ticket sales and sponsorship to cover half and the IOC to cover the rest, with organisers confident the Games will be "cost neutral".