Brisbane has officially joined the ranks of the economic heavyweights. For the first time in history, the city’s economy has broken the $200 billion barrier, marking a defining moment in its rise as one of the fastest-growing urban economies in Australia and the Asia Pacific.

According to the 2025 State of the City Report, recently released by the Brisbane Economic Development Agency (BEDA) in partnership with Deloitte Access Economics and supported by Optus, Brisbane’s economy hit $201 billion in 2024. That’s a staggering $28 billion uplift since 2020, representing 16 per cent growth in just four years.

The momentum has been underpinned by a sharp rise in employment, booming infrastructure, and a thriving “experience economy” that’s putting Brisbane firmly on the world stage.

A Jobs Powerhouse

Since 2020, Brisbane has added 274,000 new jobs, a 22 per cent increase. Employment growth has spread across key industries including health, logistics, construction, and tourism.

Australia’s fastest-growing working-age population is fuelling this expansion, creating an unprecedented demand for both talent and infrastructure. With the 2032 Olympic and Paralympic Games on the horizon, the pressure and the opportunity to deliver continues to mount.

Lord Mayor Adrian Schrinner said the jobs boom was a clear sign of confidence in Brisbane’s future:

“Our experience economy is booming as people are coming here to dine, explore, play, and be part of world-class events. That’s creating jobs and opportunities right across our city. We’re delivering record jobs, record investment, and building a better Brisbane right now.”

The Rise of the Experience Economy

One of the standout themes of the report is Brisbane’s booming experience economy, a sector spanning tourism, major events, hospitality, sport, and culture.

• $13.7 billion in visitor expenditure in 2024 – a record high.
• Domestic visitor growth is three times higher than the next-best capital city.
• Hospitality sector up 30% since 2020, the fastest growth rate of any Australian capital.
• Sporting and cultural sectors up 76% over the past decade.
• $811 million in major and business events already secured for future years.

This growth is being matched with an $11.1 billion pipeline of new experience economy infrastructure, everything from entertainment venues to tourism attractions like the Mt Coot-tha Masterplan.

Anthony Ryan, CEO of BEDA, described it as a once-in-a-generation opportunity:

“Brisbane is the growth stock of Australia and the Asia Pacific. Our thriving restaurant scene, blockbuster events and growing tourism industry have made Brisbane a magnet for talent, investment and ideas. And we’re only just getting started.”

Infrastructure Boom: $100 Billion Pipeline

Brisbane is also in the midst of a historic infrastructure transformation. The total pipeline now exceeds $100 billion, spanning lifestyle, transport, housing, and entertainment projects.

This includes more than $11 billion earmarked specifically for experience economy infrastructure, alongside city-shaping transport initiatives and new residential precincts. Together, these investments are reshaping Brisbane’s skyline and its long-term economic trajectory.

Health Leading the Way

Healthcare has emerged as Brisbane’s fastest-growing sector:

• Worth $22 billion in 2024, double its size in 2010.
• Growing at 6% annually, the fastest rate of any Australian capital.
• Medical and pharmaceutical exports are up 114% since 2013, triple the national growth rate.

This rapid expansion not only provides critical services to a growing population but also positions Brisbane as a future hub for advanced health and medical research.

Forecast: A $275 Billion Economy by 2041

Looking ahead, the State of the City report forecasts strong 10-year growth across:

• Property and construction (41%)
• Transport and logistics (43%)
• Advanced manufacturing (29%)
• Knowledge economy (50%)

Deloitte Access Economics Lead Partner Pradeep Philip said few cities worldwide could match Brisbane’s trajectory:

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

The Good Builder Take

For builders, developers, and suppliers, Brisbane’s momentum is more than just headline news it’s a roadmap for opportunity.

• Housing & Construction Demand: Population growth and $100 billion-plus in infrastructure will drive sustained demand for residential and commercial builds. The forecast 41% growth in property and construction underscores the need for scalable, resilient building capacity.
• Experience Economy Projects: With $11 billion flowing into entertainment, hospitality, and cultural infrastructure, builders with capability in large-scale venues, mixed-use developments, and precinct planning will be in high demand.
• Health Sector Expansion: The doubling of Brisbane’s health economy opens up long-term opportunities in hospital construction, medical research facilities, and allied health infrastructure.
• Olympics 2032: The countdown to the Games is already sparking investment. Builders who can align with transport, housing, and venue delivery will find significant pipeline opportunities in the lead-up to 2032.

For those in construction, the message is clear: Brisbane is not just growing, it’s transforming. Aligning with this wave now could define the next two decades of work.

Brisbane’s surge past the $200 billion mark is more than an economic milestone; it’s proof of a city stepping into its global moment. With jobs growth, world-class events, a thriving cultural scene, and an unprecedented infrastructure pipeline, Brisbane is rapidly becoming Australia’s most dynamic city.

And for builders, suppliers, and investors, the opportunities ahead are as big as the city’s ambitions.

Author: TGB Editorial