Great Barrier Reef worth $56bn, study finds Media Man Int

Great Barrier Reef worth $56bn, study finds - 26th June 2017

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The Great Barrier Reef is valued at $56 billion, contributes $6.4 billion to the Australian economy each and underpins 64,000 jobs, new research shows.

Deloitte Access Economics also warns of vast econ0omic consequences unless more is done to protect the World Heritage listed site.

'The reef is critical to supporting economic activity and jobs in Australia,' it said in a report prepared for the Great Barrier Reef Foundation charity.

'The livelihoods and businesses it supports cross Australia far exceeds the numbers supported by many industries we would consider too big to fail.'

The reef's value to Australia is the equivalent of 12 Sydney Opera Houses.

Governments must ramp up efforts to protect it, following back-to-back mass coral bleaching events and ongoing threats posed by climate change and poor water quality.

(AAP)