A report by Deloitte Access Economics shows that Queensland is uniquely positioned to capitalise on its resources, tourism potential and a range of other products.

 

The report finds that the emerging Asian market is likely to drive robust growth across a number of sectors in the state, but a patchwork economy is likely to see some parts of the state grow at different speeds.

 

The 2012 Deloitte Queensland Index found substantial difference in economic speeds throughout the state.

 

Queensland’s economy sees the two-speed split in Australia writ large. Not only are different sectors doing very differently, so are different cities within the State,” Deloitte’s Chris Richardson said.

 

“That’s no surprise. The strength of the $A has had downright ugly impacts on some – cities such as Cairns and the Gold Coast as well as sectors such as tourism and manufacturing.”

 

“Housing construction also remains very weak, in part because big developers continue to struggle for development dollars from their banks and backers.  

 

“Although the patchiness in Queensland’s economy is still very evident, the State as a whole has its mojo back – economic growth is roaring back into life.”

 

The report found that growth areas in the state are not without their difficulties, with the resources sector facing the turning commodity price cycle, labour and equipment shortages and now taxation regimes.

 

The full report can be found here