The Great Barrier Reef contributes $9 billion to Australia's economy each year and holds a total value of $95 billion. But new Deloitte research warns this national asset — backed by 98 per cent of Australians as "too precious to lose" — will not endure without urgent action.
The Deloitte Access Economics report, At What Cost? Safeguarding the Great Barrier Reef's Role in Australia's economy, confirms the Reef's immense value — contributing $9 billion annually and supporting 77,000 full-time jobs, the equivalent of Australia's fifth-largest employer. With urgent climate action and large-scale investment in resilience, the Reef could unlock a further $124 billion in opportunity over the next 50 years.
At the same time, new national polling commissioned by the Great Barrier Reef Foundation shows an overwhelming 98 per cent of Australians believe losing the Reef would be a national tragedy, with nearly three-quarters describing that loss as "significant" or "irreplaceable". Nine in 10 are concerned about the risks climate change poses, and 78 per cent say protecting the Reef for future generations is very or extremely important.
"Together, the Deloitte findings and national polling present a powerful case: safeguarding the Reef is vital not only to the people and communities that rely on its survival, but to the overwhelming majority of Australians who want it to endure for generations," said Anna Marsden, Managing Director of the Great Barrier Reef Foundation.
"The Reef is simply too precious to lose. The good news is we have solutions. Investing in adaptation and resilience alongside urgent climate action can protect jobs, safeguard communities and ensure this extraordinary natural wonder continues to inspire future generations."
Australia has already led the world in assisted coral evolution, crown-of-thorns starfish control, and large-scale reef restoration. These breakthroughs have delivered more progress in the past five years than in the previous fifty. But Deloitte warns that without a step-change in funding from both public and private sectors, these advances won't be enough to outpace climate threats.
"The Reef is not gone — but time is running out," Ms Marsden said.
"Every dollar we invest today is an investment in Australia's economy, culture and global reputation tomorrow. We have the tools, the knowledge and the choice to protect it. We just need the will."
#Report highlights
- Valued at $95 billion across economic, social and cultural dimensions - up 69% from $56 billion in 2017.
- Contributes $9 billion annually to Australia's economy.
- Supports 77,000 full-time jobs — the equivalent of Australia's fifth-largest employer if it were a single company.
- Tourism remains the largest contributor, generating $7.9 billion annually and accounting for nearly 90% of the Reef's economic value. More than 30 per cent of Queensland's leisure tourism spending is linked to the Reef.
- Offers a $124 billion economic opportunity over the next 50 years if climate action is matched with large-scale investment in reef resilience.
