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Queensland economy poised for further growth

The Queensland economy has been in the spotlight over recent years, not least because of the resources boom.

Any property investor will no doubt be keen to know what is in store for the state over the coming years, with one report indicating that further good times are ahead.

Deloitte's Building the Lucky Country series has offered an insight into what Queensland can expect over the next few years – and the results are likely to please any would-be investor.

Building on Asian ties

Deloitte described Queensland as an "outsize beneficiary of the rise of emerging Asia". As demand for commodities has grown, the state has continued to meet the needs of its Asian neighbours.

This has, of course, led to widespread benefits for the economy, particularly as people have been keen to relocate to Queensland in search of the many job opportunities on offer.

Managing partner at Deloitte Queensland John Greig explained that the state has become accustomed to being at the top of the national leader board – and will not be willing to let this position slip.

Future opportunities

Looking back on previous successes is unlikely to satisfy property investors hoping to buy real estate in Queensland over the coming years.

Thankfully, it seems that the positivity seen more recently looks set to continue, albeit in a slightly different way.

Mr Greig noted: "Queensland is very well placed to tap into the next round of opportunities opening up for the state's businesses. 

"Even better, there will be a range of opportunities on offer across a number of sectors, particularly in agribusiness and tourism, as well as resources, aligning with much of the Queensland government's four pillar approach to strengthen our economy."

Asia will continue to offer a whole host of opportunities to Queensland and its people – even as coal prices have moderated over recent times, Deloitte believes the state will still meet Asian demand for the commodity.

Growth in the gas sector

One area of Queensland's wealth of natural resources that will no doubt be tapped into in the future is gas, which will also be influenced by demand from Asia.

The report indicated that Queensland's gas potential offers a cleaner, greener alternative to the energy supplies currently used in many Asian nations.

Deloitte suggested that gas could give the state an opportunity to "turbocharge its growth" over the coming years – something that anyone considering a Queensland rental property will no doubt welcome.

The group also suggested that Queensland is now more competitive in the global markets than it has ever been, especially in light of falls in the value of the Australian dollar.