"Firstly, there is no question that the Queenstown Chamber of Commerce fully extends its sympathy and concern to all the businesses and people in Christchurch for their unimaginable trauma and loss," he said.
However, both long and short-term trickle-down effects could be expected to reshape Queenstown's economy and possibly demographic as a result of the devastation in the South Island's biggest city, tourist gateway and primary economic hub.
Before the earthquake, Christchurch represented 15% of the national GDP.
"In the first instance, many of us have firms in Christchurch and work closely either as suppliers or consultants - many of those businesses are severely disrupted.
"Many are already looking at relocating and some of those companies will relocate to other cities and towns around the country.
"Queenstown will get some of that business."
Mr Porter, who is also director of Remarkables Park, said the Frankton shopping centre was already fielding inquiries from Christchurch business owners looking to move.
Although mainly temporary, an influx of Christchurch families enrolling about 70 children at Queenstown schools today could mean the resort's population would swell.
"There's no question the earthquake will affect the economy of the South Island. The reality is that, while it severely disrupts Christchurch, a lot of overseas insurance money will go into rebuilding the city - it will undoubtedly be good for the construction industry."
Tourism in the resort would also be affected, Mr Porter said.
"That will be a major impact on Queenstown, but it's early days yet to judge . . .
"There will be some positives and some negatives. On balance I expect that because New Zealand is such a great tourist destination, tourists will still come to the South Island. As a result I expect places like Queenstown, Nelson and Dunedin to benefit from those tourists."
Christchurch airport was functioning well, but Mr Porter suspected more direct flights into Queenstown would need to be scheduled for the busy winter season, because many Christchurch hotels had been damaged, and stopovers there would become less appealing.
