The Brisbane Economic Development Agency (BEDA) has reported a deliverance of $1 billion in economic benefit for Brisbane’s residents and businesses in the last financial year. 

The city’s driver of investment, tourism and events, in the 2023/24 financial year BEDA claimed to have supported over 10,000 full-time jobs and created 860 new jobs, in addition to the billion dollar boost. 

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

According to CEO Anthony Ryan, who took the helm at BEDA in 2021, the organisation is just getting started. 

“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,” he said. 

These and other major events supported by BEDA reportedly injected $253 million into the city’s economy, with $100 million worth of future business events said to be secured. 

The Brisbane Favours the Bold destination marketing campaign contributed to Brisbane’s record-breaking $10.6 billion visitor spend in the last year. 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.

Additionally BEDA’s investment attraction and business growth programs generated $694 million in economic impact. BEDA Chair Paul 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.”

Ryan said he was “incredibly proud” of the entire BEDA team and that they will “continue to work hard to drive economic growth and prosperity for the city.” 

 “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.”