Estimated at  ~$30 billion worth of investment across a number of projects, such as the Queens Wharf Brisbane and the new runway at the airport, these projects are expected to have a substantial impact on the number of tourists visiting Brisbane as well as the surrounding region.

The airport expansion, slated for completion in 2020, is expected to double the number of passengers that it will accommodate by 2033 to approximately 50 million. This expansion is required given the number of visitors Brisbane is expected to draw as a result of the new attractions proposed and under construction.

The Queens Wharf Brisbane development alone is expected to generate a further 1.39m* visitors to Brisbane, as well as creating 8,000 new jobs once complete. The consortium responsible for construction (The Star Entertainment Group, Cow Tai Fook Enterprises Limited and Far East Consortium) have estimated the total cost of the build to be ~$3 billion and to generate 2,000 jobs during peak construction showing that they believe in the long-term future of the city.

Port of Brisbane estimate the new international cruise terminal at Brisbane airport that is capable of accommodating “mega cruise ships” will increase tourist numbers by over 5% or just under 800,000 annually.

The new generation of cruise ships are too high to dock in the existing port facility in Brisbane so the Port authority teamed up with Royal Caribbean International and Carnival Cruises to build the new terminal. Due for completion at the end of 2019 it is expected to triple the size of industry over the next two decades. 

What does this investment mean for tourist volumes?

The chart below shows Tourism Research Australia’s forecasted growth in visitor nights for both international and domestic tourists for Brisbane. It should be noted that the international forecasts include those for the Gold Coast as a significant proportion of international tourists visiting the Gold Coast fly into Brisbane due to the greater availability of flights. Therefore, some stay an extra night in Brisbane boosting its overall numbers as well. 

The increase in visitor nights by 2025 is expected to be ~39%, which is made up of an increase of ~26% and ~52% for domestic and international nights. The continued expansion of the middle-class in the Asia region, in particular China, is expected to be the main driver of visitor growth for Australia as a whole but also Brisbane. Chinese visitors already account for ~17% of international visitor nights in Brisbane, and the number of Chinese tourists to Australia expected to triple by 2025. 

Click here to download the full CBRE Report.

Click here to read about the seven projects redefining the Brisbane CBD.

To discuss the report, phone or email Ben Martin-Henry via the below contact details.

Get to know Ben Martin-Henry, Research Manager of CBRE

See also:

$2 billion ‘Brisbane Live’ world-class entertainment precinct

Probuild to commence Queen's Wharf excavation early 2018

Brisbane's five star W Hotel opening March 2018