South-east Queensland's glorious Moreton Bay has more coral than the Caribbean, has the most southern populations of dugongs, is easier to access than the Great Barrier Reef and yet most of us take it for granted, a senior marine biologist says.

The bay generates more than $5 billion each year in tourism and the Port of Brisbane Authority was in 2013 valued at $11.9 billion.

North Stradbroke Island is one of the many highlights Moreton Bay has to offer. Credit:Redlands City Council

It already has two glittering jewels - North and South Stradbroke Islands - and a rich network of smaller islands. Very soon it will have its own international cruise ship terminal.

However, Associate Professor Daryl McPhee believes rapid population growth means it is time Moreton Bay had its its own minister and its own management authority in the same way as North Queensland has its own minister and The Great Barrier Reef has its own Marine Park Authority.