The extraordinary billion-dollar boost comes off the back of a big year for BEDA, who also supported over 10,000 full-time jobs and created 860 new jobs, in the 2023/24 financial year.

BEDA launched its inaugural State of the City Report in May to showcase Brisbane’s competitive advantage on the global stage and attract investment into the city’s $275 billion economic future, rolled out successful destination marketing campaigns to support the city’s record-breaking $10.6 billion visitor spend and supported major events that injected $253 million into the city’s economy.

The agency also secured $100 million in future business events, while its investment attraction and business growth programs, including its highly lauded Global MedTech Accelerator and the Brisbane Business Hub, generated $694 million in economic impact.

Lord Mayor Adrian Schrinner said:

“Brisbane is on an incredible trajectory and our Brisbane Economic Development Agency continues to drive real growth for our city,” Cr Schrinner said.

“One billion dollars in one year is an outstanding economic return for Brisbane that will continue to support thousands of local jobs and make our lifestyle even better.

“By bringing local businesses, industry and residents together, Brisbane Economic Development Agency has helped fuel our economy through world-class lifestyle precincts and experiences.

“Brisbane’s unstoppable momentum continues to capture global attention and I look forward to continuing to work with our economic development arm to supercharge our city’s growth and keep Brisbane moving.”

BEDA CEO Anthony Ryan, who took the helm at the organisation in 2021 said:

“We’re extremely proud to have delivered this billion-dollar boost to Brisbane, and we’re just getting started,” Mr Ryan said.

“BEDA has spearheaded collaboration in this city over the past two years, to supercharge the attraction and activation of investment, tourism and events to the city.

“In the past 12 months, we launched our inaugural State of the City Report to showcase Brisbane’s competitive advantage on the global stage, secured key events like NRL Magic Round for three more years, rolled out our first-of-its-kind MoreTix tourism initiative, delivered our Brisbane Favours the Bold destination marketing campaign and helped businesses to both scale globally and grow locally.

“All these elements have contributed to making Brisbane the fastest growing capital city in Australia, and our continued efforts will be the key to unlocking our $275 billion economic future.

“Economic development is a team sport, and together with the Better Brisbane Alliance, which we established in 2023, and the support and expertise of our strategic and delivery partners, we are proud to have achieved this great result for Brisbane.

“I’m incredibly proud of the entire BEDA team, who are passionate about Brisbane’s future and will continue to work hard to drive economic growth and prosperity for the city.” 

BEDA Chair Paul Spiro said:

“Brisbane is on an incredible trajectory, and BEDA has been instrumental in fast-tracking the city’s economic growth,” Mr Spiro said.

“Our MedTech and Future Food initiatives have showcased local businesses and innovation on the world stage, seeding global investment for local growth, while initiatives like the Brisbane Business Hub are a vital incubator for small businesses and start-ups in the city.

“Brisbane’s future is alive with opportunity, and under the stewardship of their CEO Anthony Ryan, BEDA have made a significant impact on the city’s residents and businesses and will continue to work alongside industry partners to deliver returns.”

BEDA partners with a range of organisation across Brisbane to achieve economic growth for the city including Brisbane Airport Corporation, Brisbane Convention and Exhibition Centre, Tourism & Events Queensland and more.

Latest Tourism Research Data for the year to March 2024, showed that visitor spending in Brisbane hit a record $10.6 billion up nearly 30% from 2019, while attracting record numbers of visitors from Canada, New Zealand, South Korea and the USA, and interstate holiday visitors from Sydney and Melbourne.

Find out more about BEDA here.