Economic resilience
A safe and sure investment
Australia is recognised as one of the safest countries in the world for investment by the Dun & Bradstreet Global Risk Indicator. The continued internationalisation of the Brisbane economy, combined with a local pool of talent and a collaborative business culture, provides a strong and competitive environment for Brisbane’s economy to continue to outperform its neighbours. The resources boom is powering an upturn in mining services which is in turn driving growth in the construction and infrastructure sectors.
Strong, growing local economy
As a growth city with a strong history of economic performance and significant infrastructure investment, Brisbane is Queensland’s economic engine room. Valued at $104 billion (AUD) in 2009, the Brisbane economy accounted for almost half (46.4 per cent) of the total Queensland economy. In addition, between 2000 and 2006 Brisbane contributed 13.5 per cent to the total recorded growth of the national economy, increasing its total share of the Australian economy from 8 per cent to 8.8 per cent.
Proven performance
In one of the most turbulent periods of global modern economics, Australia has remained steadfast – demonstrating remarkable resilience. During the worst of the global financial crisis Australia maintained strong growth, outpacing all other advanced economies and securing a 19th consecutive year of recession-free growth. The Organisation for Economic Cooperation and Development (OECD) notes that after weathering the crisis well in 2009, the Australian economy is projected to experience strong growth above its trend rate in 2010 and 2011. Activity could expand by as much as 3 to 3.5 per cent in these two years, driven by booming exports and domestic demand.
Future prospects
Australia has the best economic prospects in the developed world according to the International Monetary Fund (IMF) World Economic Outlook. The Australian economy experienced its fastest-growing quarter in the three years to June 2010, expanding by 1.2 per cent. The IMF expects Australia to strengthen its lead over other advanced economies, with 3.6 per cent growth in 2011, well above the 2.7 per cent forecast for the OECD area.
