The Deloitte Access Economics has estimated the economic, social and iconic value of the Great Barrier Reef in a report – At what price? The economic, social and icon value of the Great Barrier Reef – commissioned by the Great Barrier Reef Foundation.
Among the take-aways:
The Great Barrier Reef contributed $6.4 billion in value added to the Australian economy in 2015–16. Nearly 90% of this economic contribution (approximately $5.7 billion) was from tourism activities alone. In terms of employment, the GBR supported more than 64,000 full-time jobs in Australia.
The GBR also provides value to those who have not, or may not ever visit it and directly use it. This non-use value can be described as social, cultural or even iconic. This value represents the place of the GBR in Australian and international culture in a way that no existing market price reflects. Leaving the GBR for future generations to enjoy is an example of a ‘non-use’ that has value to people.
There are more than 70 Aboriginal and Torres Strait Islander Traditional Owner clan groups in the GBR Region, with each group associating significant value to the Reef and its ecosystems
About the report
The Deloitte Access Economics report was commissioned by the Great Barrier Reef Foundation with support from National Australia Bank and the Great Barrier Reef Marine Park Authority. The report draws on various data sources including the Australian Bureau of Statistics, Tourism Research Australia, other government agencies, and a new survey of 1500 Australian and international respondents from 10 countries. It uses a variety of economic techniques including input-output tables, econometrics, willingness to pay analysis, sensitivity analysis and the Brand Asset Valuator. During six months of research over 80 economic, scientific and other resources were consulted.
Translating: What is the value of the Great Barrier Reef?
¿Cuál es el valor de la Gran Barrera de Coral?
Quelle est la valeur de la Grande Barrière de Corail?
Translating: How do we value the Great Barrier Reef?
¿Cómo valoramos la biodiversidad de la Gran Barrera de Coral?
Comment valorisons-nous la biodiversité de la Grande Barrière de Corail?
— Great Barrier Reef Foundation (@GBRFoundation) June 25, 2017
— Deloitte Access Economics (@D_AccessEcon) June 25, 2017
Deloitte Access Economics have estimated the asset value of the Australian Great Barrier Reef to be $56 billion https://t.co/KGTGz1LJwM
— Hugh Possingham (@HugePossum) June 26, 2017