IOC President Thomas Bach and Queensland Premier Annastacia Palaszczuk signed the Host City Contract for the 2032 Games, formalising a decision which had become apparent when the city was installed as the preferred candidate in February.

Brisbane received 72 votes, while five members voted against and three abstained in what was largely a coronation for the capital of Queensland.

The announcement was beamed to a live site in Brisbane and was greeted with celebration from state and national officials, and an emotional John Coates, inside the room at the IOC's five-star hotel in the Japanese capital.

The city being awarded the Games became a formality when the Executive Board approved its candidacy last month.

It meant it was the sole candidate presented to the Session.

"This is an exciting moment for the IOC," said Bach.

"The Games are in safe hands, we know Australia and their experience of delivering these events.

"You create a legacy even before the Games are started.

"I am sure this vote will inspire many of the young generation to practice sport."

Palaszczuk, who travelled from Queensland to attend the Session, said she has "so much pride in my state and my people".

"We’ve done it Queensland, we’ve done it Brisbane," she said.

"We never thought that it was possible.

"We are a sports-loving state and I believe this will give us a golden age. 

"We are excited, over the moon and absolutely honoured."

Brisbane is the first city to be awarded the IOC's flagship event under its revamped procedure for choosing Olympic host cities, which sees a small group of members identify and propose hosts to the Executive Board.

The overhaul of the system following referendum defeats and bidding scandals was orchestrated by Coates, an IOC vice-president and the President of the Australian Olympic Committee.

The IOC has claimed there is no conflict of interest and Coates recused himself from the meetings where Brisbane's candidacy was discussed.

"I don’t see why it is a coincidence [that an Australian city is the first to be awarded the Games under the new process]," Coates said.

"We were thoroughly tested by the Future Host Commission.

"The level of due diligence we had to do far exceeded than for Sydney."

Australia last staged the Games in 2000, when Sydney played host following a campaign run by Coates.

"We know the impact on Sydney more than two decades ago was transformative, and we can now expect a repeat for Brisbane and communities across Queensland," said Australian Prime Minister Scott Morrison.

It has been claimed Brisbane hosting the 2032 Games would bring $6.1 billion (£4.3 billion/€5 billion) in value to the State of Queensland, and $13.4 billion (£9.5 billion/€11 billion) to Australia.

The city will use 84 per cent existing and temporary venues, the IOC said, while it is claimed the remaining facilities "will be delivered well in advance and irrespective of the Games".

Today's green-lighting of Brisbane as the 2032 hosts brings to an end a process which has been criticised by other countries that had been interested in staging the Games in 11 years' time.

North and South Korea, Qatar, Germany, India and Indonesia had also expressed an interest in hosting the 2032 Games and had entered into talks with the IOC, but all were overlooked in favour of Brisbane.

Qatar, set to host the FIFA World Cup in less than 18 months, is thought to be particularly frustrated about how the process was conducted.