As the planet’s largest living structure and one of the world’s most complex and diverse natural ecosystems, the Great Barrier Reef is justifiably considered both priceless and irreplaceable. But what is it worth?
It’s renowned as the world’s largest living thing… but of Australia’s celebrated natural assets, the Great Barrier Reef is also the biggest contributor to our national economy and our international brand.
Putting a price on it might seem impossible, given the Reef’s irreplaceable beauty and biodiversity. Of course it’s invaluable on so many levels, but identifying its value can help an appreciation of its importance, and shape thinking and policy around its future.
In a world first, this new Deloitte Access Economics report, for the Great Barrier Reef Foundation (with support from National Australia Bank and the Great Barrier Reef Marine Park Authority) calculates the total economic, social and icon asset value of the Reef.
And the number is $56 billion.
That’s a lot of reasons to think very carefully about the Reef’s future.
This timely report is a much needed, holistic view of the incredible economic value and opportunities provided by the Great Barrier Reef. Any failure to protect this indispensable natural resource would have profound impacts not only to Australia but around the world.
- Al Gore