PORT of Brisbane and its supply chain contributed around $7.8 billion to the Queensland economy in the 2022 financial year, new research has found.
Port of Brisbane commissioned a report from Deloitte Access Economics to quantify the port’s economic contribution to the state’s economy.
The report forecast growth of the port’s economic contribution in the coming years.
Projections indicate the port could contribute $9.9 billion in economic value added by 2032, and $15.4 billion by 2050.
Port of Brisbane CEO Neil Stephens said the port community is critical to Queensland’s economy and the long-term growth of the region.
“Despite a challenging year, with the pandemic, severe weather events and global supply chain disruptions all having an impact, the Port of Brisbane delivered a record year for containers (1.53m TEUs) and significant economic activity for Queensland,” Mr Stephens said.
“The resilience and commitment of all port stakeholders is crucial to that success, and we thank them all for their continued partnership.
“We will continue to invest in the port’s infrastructure over the long-term, driving jobs growth and economic activity up and down the supply chain.”
The report also highlighted the economic impact of cruise activity. It found the cruise industry could contribute $1.15 billion to the Queensland economy over the next decade.
“Every time a ship calls in port, it’s a mini-boom for the economy,” Mr Stephens said.
“It also means more ship calls in other Queensland ports like Cairns and Townsville, generating jobs and economic activity in those cities and well.
“We think Queensland can become Australia’s cruising capital, and the Port of Brisbane will almost certainly be at the centre of it.”
Port of Brisbane and its supply chain also supported around 63,000 jobs in the 2022 financial year, 7900 of which were within the port precinct.
