New figures confirm 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 last week 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 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 including events, business events and tourism.
Brisbane Lord Mayor, Adrian Schrinner, said on the release of the report, the city is on the rise.
“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,” he said.
“We’re delivering record jobs, record investment and a booming experience economy that’s putting Brisbane on the world stage.
“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.”
The report also finds Brisbane is undergoing an 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.
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.
Brisbane Economic Development Agency CEO, Anthony Ryan, said Brisbane is fertile ground for entrepreneurs, investors and business leaders.
“Our thriving restaurant scene, blockbuster events and growing tourism industry have also made Brisbane’s experience economy a magnet for talent, investment and ideas,” he said.