With a thriving economy, a number of major city-shaping infrastructure projects currently underway and Australia’s largest local council at the helm, Brisbane is a destination alive with opportunity.
There’s an unparalleled ease to doing business in Brisbane. With government stability at all levels, a strong legal and regulatory framework in place, and close proximity to key Asian export markets, Brisbane has the potential for unlimited growth across the entire business ecosystem.
As one of Australia’s fastest growing capital cities, Brisbane’s economy is worth $181 billion – and that’s forecast to increase to $239 billion by 2041, driven by the growth of key sectors such as advanced manufacturing, logistics, business services, health, property and construction, and tourism.
Through investment in new tourism infrastructure and experiences, there is opportunity for Brisbane’s visitor economy to generate an additional AUD$6.5bn per annum in visitor expenditure by 2031.
The city’s more than $19 billion infrastructure pipeline includes the transformational Brisbane Metro and Cross River Rail public transport projects, as well as Dexus’s Waterfront Brisbane; the $3.6 billion Queen’s Wharf development; the $2.7 billion Gabba rebuild; and the $2.5 billion Brisbane Arena development.
Brisbane is a multicultural city, with one in three of its 2.57 million residents born overseas. An ongoing wave of interstate migration, which is expected to see Brisbane’s population growth surge by 43% over the next 20 years, is helping to supercharge the economy.
Brisbane is the closest eastern seaboard capital city to Australia’s three largest export markets – China, Japan and South Korea.
Brisbane is a thriving global hub at the centre of Queensland’s economic corridor for trade and enterprise, with a 24/7 airport just 20 minutes from the city centre that boasts the highest aviation capacity in Australia, and has seen a 60% increase in annual export value since 2019. With direct connections to 53 domestic destinations, as well as major international hubs, Brisbane Airport Corporation (BAC) estimates the airport will welcome 50 million passengers a year by 2040.
The Port of Brisbane, one of Australia’s fastest-growing container ports, is also forecast to undertake $466 million in infrastructure works over the next five years.
The city’s connectivity will be strengthened with more than $7 billion in public transport infrastructure projects underway, as well as new Green Bridges connecting popular inner-city precincts from 2024 onwards. This connectivity will accelerate cooperation between the high-tech, science and knowledge economies centred around Brisbane’s inner city.
Learn how the Brisbane Economic Development Agency (BEDA) can support your business to succeed in Brisbane here.