Brisbane’s economy has officially topped $200 billion for the first time, with a new report showing strong gains across health, construction, and tourism industries.

The 2025 State of the City report, commissioned by Brisbane City Council, found the city’s economy now sits at $201 billion and is forecast to contribute $275 billion nationally by 2041.

Health remains a standout performer, growing 6 per cent last year and outpacing both Sydney and Melbourne. Deloitte Access Economics partner Pradeep Philip said Brisbane had become a national leader in clinical trials, commercialisation, and export-led growth.

Tourism, hospitality, and the broader “experience economy” – from ecotourism to nightlife – were also highlighted as key growth sectors. Since 2020, the number of hospitality venues in Brisbane has increased by one-third, with overall employment in the greater region rising 22 per cent.

Construction, advanced manufacturing, and knowledge-based industries were identified as stable and expanding, supported by population growth and large-scale infrastructure projects.

The report also found Brisbane had one of Australia’s most competitive business environments, with payroll tax rates among the lowest in the country and inner-city office rents sitting well below Sydney and Melbourne.

However, challenges remain. Deloitte warned that urban sprawl and land availability could put pressure on future growth, making infill development crucial.

Lord Mayor Adrian Schrinner said Brisbane was entering a period of unprecedented opportunity ahead of the 2032 Olympic and Paralympic Games.

“Our momentum has never been greater,” he said. “We’re building a better Brisbane right now.”