WHAT'S THE OUTLOOK FOR AUSTRALIA'S NEW WORLD CITY

Written on the 14 March 2011

WHAT'S THE OUTLOOK FOR AUSTRALIA'S NEW WORLD CITY

It is often said that resilience and strength is revealed in periods of disruption. Brisbane business has undoubtedly shown these qualities following the January flood event and the weak global economic conditions over the past two years. CEO of Brisbane Marketing John Aitken, says the city, as always, will continue to deliver.

THE construction industry is expected to boom from April 2011 as damaged infrastructure and property is repaired, including roads, bridges, houses, businesses and utilities.

Other businesses have created opportunities in new product development, innovation in technology and equipment, and the pursuit of collaboration. One great example is the industry peak bodies, which have worked very closely with local businesses to provide both short and long-term support.

Looking ahead, there is clear evidence of businesses progressing with major development projects and business activities, both at home and around the world.

Brisbane Marketing through its core business units have convened with industry and government over the past few months to gain intelligence on building the city’s long-term economic recovery plan. There is a uniform message that shone through – a need to change and correct perceptions both in Australia and around the world that Brisbane, Australia’s new world city, is open.

Brisbane Marketing and global branding consultancy Interbrand have developed an umbrella campaign to address the negative perceptions of Brisbane’s post-flood economic recovery and to firmly position Brisbane nationally and internationally as Australia’s new world city.

We have recently launched the Brisbane Economic Annual 2010, the definitive guide to the City’s economy. More than 4500 investors and businesses around the world have received the annual publication, which features independent commentary and perspective from some of the nation’s and the world’s most influential business leaders. You can download a copy here at: www.investbrisbane.com.au.

On an international level, Brisbane Marketing in conjunction with Austrade and Trade and Investment Queensland, is undertaking a series of in-market trade missions during March and April 2011.

Key investment clients, influencers and media in London, Hong Kong, Singapore, Tokyo, the USA and Canada will be invited to a number of Brisbane post flood briefings. These are designed to: ensure ongoing investor confidence in Brisbane; provide companies with an overview of the reconstruction opportunities in Brisbane and highlight the city’s continuing key infrastructure projects that international firms are already participating in.

We are also finalising the results of the Brisbane Marketing/Brisbane City Council (BCC) flood economic impact survey on Brisbane businesses. We will be working closely with BCC’s Economic Development unit to refresh the Brisbane Economic Recovery Plan with the survey findings, and engage further with industry.

We are also refreshing the Economic plan with clear actions of intervention in key areas, with the aim to grow our $104 billion economy. We look forward to sharing this intelligence with you soon.

While there will be a downturn in some sectors, the expectation is that 2011/12 will represent a stronger period. Infrastructure, innovation and sustainability will all contribute significantly to our continued success, and these same drivers will offer opportunities for industry growth, development and investment.

At the same time, the work between government, industry and the community towards Brisbane’s goal of becoming a carbon neutral city by 2026 will continue to present opportunities for local businesses and foreign investors.

As we reconnect with the world, I think it’s also a time to reflect upon the 80,000 businesses in Brisbane who have displayed leadership and resilience during these tough periods.

And it’s certainly timely in this current issue of Brisbane Businesses News that we recognise Brisbane’s Top 50 Companies. On reflection in 2010, this publication noted that ‘Brisbane’s top private businesses have proven themselves flexible and resilient in tough times’. This statement is even more relevant today.

As the city’s economic development agency, we look forward to working with Brisbane business to maximise economic development, growth and prosperity in 2011. Together we will create a better Brisbane.


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