A $56 billion price tag placed on Great Barrier Reef

REEF REPORT

Mark Murray

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A new survey has put a price tag on the Great Barrier Reef. IMAGE: Newsport.
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THE Great Barrier Reef has a $56 billion price tag.

A new Deloitte Access Economics report has calculated the social, economic and iconic ‘asset value’ of the natural wonder, and believes its worth more than 12 Sydney Opera houses.

The report findings said the reef contributed $6.4 billion per year to the Australian economy ($3.9 billion in Queensland) and supports $64,000 jobs.

“We might say it’s invaluable. But identifying its value can help us appreciate its importance and shape thinking and policy around it’s future.” a snapshot of the report said.

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The survey also found more than 65 per cent of respondents see the reef as Australia’s most iconic natural site, with 60 per cent willing too pay for its protection.


“This report makes it clear that the Great Barrier Reef is a treasure that is too big to fail,” said Dr John Schubert, Chair of the Great Barrier Reef Foundation.

“It is a call to action for us all – individuals, businesses, foundations and governments – to respond in equal measure to ensure that we don’t fail our natural wonder.”

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Former US Vice-President Al Gore said any failure to protect ‘this indispensable natural resource’ would have profound impacts not only to Australia, but around the world.

“This timely report is a much needed, holistic view of the incredible economic value and opportunities provided by the Great Barrier Reef,” he said.


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