Brisbane breaks $200 billion barrier as experience economy surges ahead
Brisbane’s economy has surged past $200 billion for the first time, with new figures confirming the city’s position as one of the fastest-growing urban economies in Australia and the Asia Pacific.
The 2025 State of the City Report, released today by Brisbane Economic Development Agency (BEDA) in partnership with Deloitte Access Economics and supported by Optus, revealed the city’s economy reached $201 billion in 2024. This is a $28 billion uplift since 2020, representing 16 per cent growth in just four years.
Employment has jumped by 274,000 since 2020, up 22 per cent, 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.
The report also finds Brisbane is undergoing a historic infrastructure transformation, with a pipeline of major projects 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.
This unprecedented wave of investment is reshaping the city’s landscape, driven by bold initiatives spanning lifestyle, transport, housing and entertainment.
“Brisbane is a city on the rise, and it is the best place to live, work and visit,” Lord Mayor Adrian Schrinner said.
“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.
“We’re delivering record jobs, record investment and a booming experience economy that’s putting Brisbane on the world stage.
“We’re getting on with the job of building a vibrant, resilient city full of opportunity.
“With the global spotlight on us in the lead-up to the Brisbane 2032 Olympic and Paralympic Games, our momentum has never been greater and we’re building a better Brisbane right now.”
Key findings from the 2025 State of the City report include:
Australia’s fastest-growing health industry:
- $22 billion economic contribution in 2024 – double the size it was in 2010
- Annual growth of 6% - the fastest of any Australian capital
- Medical and pharmaceutical exports up 114 per cent since 2013 – three times the national growth rate
Australia’s fastest-growing experience economy
- Record $13.7 billion in total visitor expenditure in 2024
- Domestic visitor growth three times higher than the next-best capital
- $11.1 billion in new experience economy infrastructure underway
- Hospitality sector grew 30% since 2020 - the fastest growth of any Australian capital.
- Sporting and cultural sectors up 76% over the past decade.
- $811m in major and business events secured for future years.
The State of the City Report also forecasted strong 10-year growth across property and construction (41 per cent), advanced manufacturing (29 per cent), transport and logistics (43 per cent) and the knowledge economy (50 per cent).
“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,” said Deloitte Access Economics Lead Partner Pradeep Philip.
“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.”
“Brisbane is the growth stock of Australia and the Asia Pacific,” said Anthony Ryan, CEO of Brisbane Economic Development Agency.
“Our city is fertile ground for entrepreneurs, investors and business leaders looking for the next breakthrough, city-defining project or global success story.
“Our thriving restaurant scene, blockbuster events and growing tourism industry have also made Brisbane’s experience economy a magnet for talent, investment and ideas.
“Brisbane is a city where lifestyle and opportunity go hand in hand, and we’re only just getting started.”
