AOC President John Coates said Brisbane, Queensland and all Australians stand ready to deliver an Olympic and Paralympic Games that will repay the trust shown by members that Australia can deliver the world's greatest sporting event to the very highest standard.

"This is a very proud day for Australia, make no mistake. I thank the IOC members for their confidence. Brisbane 2032 is genuinely committed to serving the ideals of the Olympic movement," he said.

"The Olympic Games in Brisbane will be in the most diligent, grateful and enthusiastic hands. And I make this commitment to the athletes of the world - we will provide you with an unforgettable experience," he added.