Economic report: The future of Queensland’s economy
Director Adept Economics
Queensland’s future is very positive given the state economy’s strong fundamentals. Yet a business as usual (BAU) approach will not necessarily deliver the best returns for the state nor take advantage of opportunities to diversify risk.
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Queensland: Future state emphasises the extra returns new and precisely focused investment can deliver to take advantage of the economic opportunities in the state. The report considers traditionally strong sectors such as agriculture, resources and tourism. It explores whether there is the potential for a rebound in manufacturing, a sector with a lot of promise in the so-called Fourth Industrial Revolution. It also notes the importance of the state’s linkages with Asia, the opportunities and challenges associated with a rapidly growing population, hosting the 2032 Olympic Games in Brisbane, and an economy-redefining move towards decarbonisation.
The report focuses on Queensland’s potential. It outlines what economic growth opportunities are possible but does not contain forecasts, given both economic and policy circumstances could change significantly over the ten-year period considered. Yet the opportunity is very clear – Queensland can be the future state.