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How The Cost Of Living Is Affecting Australia’s Olympic Medalists

As the cost of living crisis rises in Australia, there are growing concerns about its impact on the nation’s sporting talent, particularly with the Brisbane Olympics approaching in 2032. 

The financial strain on families is leading to difficult decisions, including pulling children out of sports to save money. 

This trend could have long-term repercussions on the talent pathways that feed into elite sports.

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On today’s The Briefing podcast, Tessa Randello from the LiSTNR Newsroom dives deep into how this financial strain might shape the next generation of athletes. Could this affect our #2032brisbaneolympics dreams?

Ryan Holloway from the Australian Sports Foundation has shared alarming data that 43 per cent of Brisbane Olympic hopefuls and half of the 2026 Commonwealth Games hopefuls have considered quitting their sports due to financial pressures. 

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🏋️‍♀️🏅 Being an Olympic champion might pay well in terms of medals and prestige – but in terms of cash? Not so much.    It’s not just professional athletes feeling the pinch – families are opting out of weekend and after-school sports due to the rising costofliving, which could mean fewer elite athletes in the future. ⚽️   On today’s ep of The Briefing, Tessa Randello from the LiSTNR Newsroom dives deep into how this financial strain might shape the next generation of athletes. Could this affect our #2032brisbaneolympics dreams? 🏆🏖️   🎧  The Briefing: Why our Olympians can’t compete with the cost of living 📝 Comment “listen” and we’ll DM you the episode.    #costofliving #eliteathletes #sports #olympics #brisbaneolympics

♬ original sound – LiSTNR Newsroom

“The cost of living is making it hard for many to continue,” Mr Holloway said.

“Athletes are being forced to choose between their passion and financial stability.”

The Australian Sports Commission also noticed that the average annual cost for sports participation has risen to $1,304, excluding additional expenses like equipment and travel.

This financial burden affects not only athletes in the sports sector but also the arts sector. 

“The Australian Olympic Committee has a medal incentive scheme, and athletes are paid $20,000 for a gold, $15,000 for a silver and $10,000 for a bronze medal,” Ms Randello said.

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