GAMES: Melbourne has other priorities ahead of bidding for the 2032 Olympic Games, but Premier Daniel Andrews is happy to hear the debate.

The Committee For Melbourne, a business lobby group, reportedly has called for the city to bid for the Games and begin planning now.

Mr Andrews says any bid will need careful consideration.

"This is a very significant undertaking, very significant cost," he told reporters on Wednesday.

"It's some years away. This is not a bad debate to have."

Mr Andrews says he supports major events coming to Victoria, but Olympic bids are expensive and time-consuming.

"It's a very competitive process and one we need to do some careful thinking about because it does cost a very significant amount of money and we do, I'm afraid, have many services - the basics, the fundamentals - crying out for much greater support from government."

Melbourne hosted the Olympic Games in 1956.

AAP