Our priceless Great Barrier Reef has recently been valued, and is said to be worth a whooping $56 billion to Australia’s economy.
We’ve already heard it all before, but it truly is “too big to fail”.
To put that figure into perspective, it’s an equivalent to more than 12 Opera Houses and the length of the Great Wall of China in 100 dollar notes.
The report commissioned by the Great Barrier Reef Foundation with support from National Australia Bank and the Great Barrier Reed Marine Park Authority, Deloitte Access Economics analysed the Reef’s:
- Economic, social, and iconic value
- Contribution to the economy through industry value added and employment
- Brand value to Australia and the international community
- Significance to Aboriginal and Torres Strait Islander Traditional Owners
For something so irreplaceable to Australia, we are seeing very little to no government support in saving the reef. It has contributed $6.4 billion to the Australian economy in 2015-16 and supported 64,000 full time jobs. Now that’s something worth saving, don’t you agree?
At $29 billion, tourism comes in as the biggest contributor to the Reef’s $56 billion value.
Great Barrier Reef Foundation Director Steve Sargent said, “As the largest living structure on Earth and one of the world’s most complex and diverse natural ecosystems, the Great Barrier Reef is justifiably considered priceless.”
As a global treasure, we can’t afford to lose something that single handedly represents Australia as one of our natural wonders.
Unfortunately with the reef under threat, we face losing Australia’s natural icon.
Greenpeace Climate and Energy Campaign director Nikola Casule says the report is completely missing the point.
“You can’t put a dollar figure on the Reef. It is an irreplaceable global wonder that has captivated the imagination of billions,” he said.
This means our future generations have responsibility to save it for the next future generations – regardless of economical value.
Not only a natural wonder, but also a tourism contributor, economical job provider, and value to Australia’s international brand.
On a positive note, two-thirds of Australians and international respondents are willing to pay to protect the Great Barrier Reef.
Visit the Great Barrier Reef online to make a donation to contribute to preserve it for future generations.