Great Barrier Reef valued at $56 billion
The Great Barrier Reef has a total asset value of $56 billion and is "too big to fail", according to a new report.
Deloitte Access Economics has calculated the economic, social and iconic value of the world heritage site in a report commissioned by the Great Barrier Reef Foundation.
The research synthesises the results from a range of publicly available data sources, a new survey of over 1,500 Australians and residents from 10 countries world-wide, fresh insights from stakeholder consultations and the efforts of previous research.
The report found that the Great Barrier Reef generates 64,000 jobs in Australia and contributes $6.4 billion dollars to the national economy, the report said.
It states the brand value, or Australians that have not yet visited the Reef but value knowing it exists, as $24 billion.