Billions to boost the Brisbane experience

Brisbane at night. | Newsreel
Brisbane's economy cracked $200 billion in 2024. | Photo: Jennifer Ngo (iStock)

Brisbane’s experience economy is set for a more than $11 billion infrastructure boost in the lead-up to the 2032 Olympic and Paralympic Games.

The Brisbane Economic Development Agency’s (BEDA) latest State of the City report, which shows the Queensland capital’s economy cracked $200 billion for the first time last year, highlighted a pipeline of major projects to maintain the momentum.

BEDA CEO Anthony Ryan said the report found Brisbane was undergoing an historic infrastructure transformation, with the pipeline now exceeding $100 billion.

“This includes more than $11 billion in experience economy infrastructure, from new entertainment venues and sporting facilities to tourism attractions like the Mt Coot-tha Masterplan, creating unforgettable experiences for residents and visitors alike,” Mr Ryan said.

He said the unprecedented wave of investment was reshaping the city’s landscape, driven by bold initiatives spanning lifestyle, transport, housing and entertainment.

“Our city is fertile ground for entrepreneurs, investors and business leaders looking for the next breakthrough, city-defining project or global success story.”

Mr Ryan said the report, released today in partnership with Deloitte Access Economics, revealed the city’s economy reached $201 billion in 2024, a $28 billion uplift since 2020, representing 16 percent growth in four years.

He said employment has jumped by 274,000 since 2020, up 22 percent, boosting skills in health, logistics, construction and tourism.

“A major driver of this growth is Brisbane’s experience economy, from world-class events and tourism to a thriving hospitality and cultural scene, attracting more visitors, more investment and more jobs than ever before.

“Driven by Australia’s fastest-growing working-age population, this jobs growth is powering Brisbane’s economy towards the 2032 Olympic and Paralympic Games.”

Brisbane Lord Mayor Adrian Schrinner said with the global spotlight on the city in the lead-up to the Games, momentum had never been greater.

“Our experience economy is booming as people are coming here to dine, explore, play, and be part of world-class events, and that’s creating jobs and opportunities right across our city,” Lord Mayor Schrinner said.

“We’re delivering record jobs, record investment and a booming experience economy that’s putting Brisbane on the world stage.”

Deloitte Access Economics Lead Partner Pradeep Philip said the report forecast strong 10-year growth across property and construction (41 percent), advanced manufacturing (29 percent), transport and logistics (43 percent) and the knowledge economy (50 percent).

“Few cities in the world can match Brisbane’s current momentum, which is fuelled by strong population growth, a diverse economy and massive infrastructure investment,” Mr Philip said.

“From tourism to quantum computing, Brisbane is setting the pace nationally and internationally, and is on track to hit $275 billion by 2041 with South East Queensland projected to be home to six million people by 2046.”

Access the full report on the BEDA website.