Queensland's pro-business economy

In this guide:

Benefits of doing business in Queensland

Queensland's pro-business economic environment and forecasted growth offers investors a safe, long-term investment climate within a stable and resilient economy:

IMD World Competitiveness Yearbook (2011) ranked Australia's economy as the second most resilient to economic cycles in the world.
Dun & Bradstreet (2010) ranked Australia alongside Canada, Switzerland and Norway as the safest and most secure destination for foreign investment in the world.

By relocating to Queensland, you will benefit from:

dedicated Queensland Government infrastructure spending
dominant mining, agriculture, energy and resources sectors
strong population growth.

Business investment is recovering from the natural disasters that occurred in 2010-11, and will accelerate beyond recovery in 2011-12.

Forecast growth in Queensland for 2011-12 is 5.6% - well above the national forecast of 3.5% (Access Economics). A return to headline growth offers a range of opportunities for your business or investment, as it will be driven by further investment in mining, the developing liquefied natural gas (LNG) industry, and business and residential reconstruction.

About Queensland's economy

Economic indicators for Queensland as at July 2011

Economic indicator	Queensland figures
Population	4.56 million
Population growth	1.6%
GrossStateProduct	$258 billion
Economic growth Employment growth Unemployment rate	1.8% 0.7% 5.8%
Inflation	3.6%
Exports of goods and services	$57.7 billion
Imports of goods and services	$40.9 billion

Economic growth

Queensland's economy outperformed most advanced economies in 2009-10, recording growth of 2.3% (International Monetary Fund 2011).

Economic growth in Queensland in 2011-12 is forecast at 5.6%, the state's fastest growth in the past 5 years.

Queensland's average economic growth rate through the last decade is at 4.2%, with our economy now valued at nearly $260 billion. Queensland has had the highest average economic growth rate over 20 years of any Australian state or territory.

Business investment

Queensland is a magnet for business investment, with a record $184.5 billion in known projects for the June quarter 2011 (Deloitte Access Business Outlook). Business investment in 2011-12 is forecast to increase by a nation-leading 27.75%.

Over 2010-11 Queensland had the strongest business investment growth in mainland Australia at 13%.

Exports

Queensland's export volumes are forecast to grow at a decade-high rate of 10% in 2011-12.

75% of Queensland's exports are to Asia. In 2009-10, Queensland's largest value merchandise exports were to Japan, China, India, South Korea and Taiwan. Queensland is Australia's second largest trading state by value.

Population

Queensland's population is projected to double to around 9.1 million people by 2056 and Queensland is projected to replace Victoria as Australia's second most populous state in 2050.