Joint media release: Great Barrier Reef valued at $95bn and supports 77,000 jobs, report finds

Senator the Hon Murray Watt, Minister for the Environment and Water
Senator The Hon Nita Green, Assistant Minister for Tourism and Northern Australia 
Matt Smith MP, Member for Leichhardt

The Albanese Government welcomes new data out today that shows the Great Barrier Reef now contributes over $9 billion each year to the national economy, as Australia’s fifth biggest employer.

The significant findings were highlighted in a research report released by the Great Barrier Reef Foundation, which measured the Reef’s economic contribution to Australia.

The report found the World Heritage listed property now supports 77,000 full-time equivalent jobs.

Now with an estimated value of $95 billion, the Reef has experienced a 69 per cent increase since 2017 when it was estimated to be $56 billion.

Minister for the Environment and Water, Murray Watt said the findings were encouraging but there was more work to be done.

“This is a powerful reminder of what’s on the line when it comes to protecting the Great Barrier Reef, for both the environment and the economy it supports,” Minister Watt said.

“Climate change is the biggest threat for reefs worldwide and Australia has committed to strong climate action to support global efforts.

“Funding from the Albanese Government has ensured that Australia can share its expertise with our partners around the world as coral reefs everywhere face a difficult future.

“And we’ll continue to play this leadership role internationally to encourage global action on climate change.”

Assistant Minister for Tourism and Northern Australia, Nita Green said the report solidifies the Great Barrier Reef as one of Australia’s top employers and highest-performing assets to the economy.

“The Reef is part of Australia’s national identity and significant contributor to the national economy. Millions of people visit it every year. And while the Reef is resilient, it is not invincible,” Assistant Minister Green said.

“The Albanese Government continues to deliver record investments in Reef protection, working in partnership with the Tourism industry, because we know when you protect the Reef, you protect jobs.”

Member for Leichhardt, Matt Smith said the local love for the Reef was abundant.

“In Far North Queensland the Reef is a massive part of who we are.”

“It delivers jobs, it attracts millions of visitors every year, and makes for a sensational place to call home.

"We in the Far North take our custodianship of the reef very, very seriously. From rangers to the tourism industry you will find people from FNQ dedicated to the protection and promotion of Australia’s greatest natural asset."

The Australian Government is investing a record $1.2 billion over nine years to 2030, to accelerate action to protect and restore the Reef, and support its contribution to the economy and employment.

This investment is delivering world-leading Reef management, improving water quality, supporting sustainable fisheries and cutting-edge science to help the Reef adapt and recover from impacts of a changing climate.

The Albanese Government is also helping to deliver the Great Barrier Reef 2050 Long Term Sustainability Plan - the most comprehensive plan of corrective measures developed for a World Heritage property.