Image caption The Great Barrier Reef supports 64,000 jobs, according to a new study 
 
 The Great Barrier Reef is worth A$56bn (£33bn; $42bn) and is critical to supporting economic activity in Australia, according to a new report. 
 
 Deloitte Access Economics calculated the figure on the reef's total "economic, social and icon value". 
 
 It found the reef contributes A$6.4bn to Australia's economy and supports 64,000 jobs. 
 
 The report said more should be done to protect the reef, which has been hit by recent mass coral bleaching events. 
 
 The study was commissioned by the Great Barrier Reef Foundation, a charity dedicated to protecting the World Heritage-listed icon. 
 
 "This report sends a clear message that the Great Barrier Reef - as an ecosystem, as an economic driver, as a global treasure - is too big to fail," said foundation director Steve Sargent. 
 
 "As the largest living structure on earth and one of the world's most complex and diverse natural ecosystems, the Great Barrier Reef is justifiably considered priceless and irreplaceable." 
 
 Calculating value 
 
 Using economic modelling, the authors calculated the reef is worth A$29bn to tourism and A$3.2bn to recreational visitors such as divers. 
 
 Media playback is unsupported on your device Media caption The second bleaching is causing concerns over the reef's long term health. 
 
 It is also worth A$23.8bn in "indirect" or brand value - meaning Australians who have not visited the reef but value knowing it exists. 
 
 The data was based on a six-month study of scientific and economic sources, and a new survey of more than 1,500 people from 11 countries. 
 
 Mr Sargent said the total value was 12 times greater than the Sydney Opera House. 
 
 Lead author John O'Mahony said the results confirmed the reef had "incredible value" in terms of biodiversity, creating jobs, and reputation internationally. 
 
 Mass coral bleaching in consecutive years damaged two-thirds of the reef, according to surveys in April. ||||| Great Barrier Reef valued at A$56bn as report warns it's 'too big to fail' 
 
 A new report has valued the Great Barrier Reef at A$56bn and warns of vast economic consequences for Australia unless more is done to protect it. 
 
 The Deloitte Access Economics report says the world heritage-listed reef underpins 64,000 direct and indirect jobs, and contributes $6.4bn to the national economy each year. 
 
 But without ramped-up protection efforts, it warns much of that could be at risk as the reef suffers from repeated mass coral bleaching events, poor water quality and climate change. 
 
 Paris agreement's 1.5C target 'only way' to save coral reefs, Unesco says Read more 
 
 “The reef is critical to supporting economic activity and jobs in Australia,” says the report, prepared for the Great Barrier Reef Foundation. “The livelihoods and businesses it supports across Australia far exceeds the numbers supported by many industries we would consider too big to fail.” 
 
 Of the 64,000 jobs linked to the reef, 39,000 are direct jobs – making the reef a bigger “employer” than the likes of Telstra, the Qantas Group, National Australia Bank and the oil and gas extraction industry. 
 
 The report has been released amid a sustained campaign by environmental groups against Adani’s new mega coalmine in Queensland, which they say will fuel the biggest threat to the reef’s survival – climate change. 
 
 “There has never been a more critical time to understand precisely what the reef contributes and, therefore, what we stand to lose without it,” said Dr John Schubert, the chairman of the reef foundation, which works to address environmental threats. 
 
 “This report makes it clear that the Great Barrier Reef is a treasure that is too big to fail. 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.” 
 
 Great Barrier Reef: Australia must act urgently on water quality, says Unesco Read more 
 
 The energy and environment minister, Josh Frydenberg, said Adani’s planned mine was “300km inland ... in a dry, dusty part of Queensland”. 
 
 Asked on Monday how the federal government could support the mine, when the value of the reef dwarfed its economic impact, Frydenberg said Australia’s coal was cleaner than other sources. 
 
 “If Australia vacates this field, not only will we be forgoing billions of dollars’ worth of export income and thousands of jobs domestically, but somebody else will sell that coal into India and the impact on the environment could be worse in terms of emissions,” he said in a statement. 
 
 The Australian Conservation Foundation said emissions from the coal Adani planned to mine would fuel the primary threat to the reef’s survival: climate change. 
 
 “It’s just a disturbing statement to hear from our federal environment minister,” ACF campaigner Basha Stasak said. “Our governments seem to refuse to acknowledge the reality of the situation. It’s a choice - it’s coal or it’s coral and we are going to have to pick.” 
 
 Queensland’s environment minister, Steven Miles, said the report was valuable as the state government fought for more federal assistance to safeguard the reef. 
 
 He said there was a discussion to be had about whether a levy that applied to reef visitors was “the right amount” or whether there were other ways to generate funds for reef protection. “Certainly we could use more support from the federal government, it is a national asset,” he told Channel Nine. 
 
 Deloitte says the $56bn figure reflects the reef’s economic, social and iconic value, with Australian tourists who have visited it accounting for $29bn. 
 
 table Sources: Deloitte Access Economics report on the value of the Great Barrier Reef, Queensland government, Adani. 
 
 But it ascribes almost as much – $24bn – to Australians who are yet to see it but value knowing that it exists. 
 
 A further $3bn is put down to the value Australians see in being able to visit the reef’s beaches and boating and diving in reef waters. 
 
 The report was based on previously published data, a new survey of more than 1,500 Australians and residents from 10 other countries, and consultations with stakeholders. 
 
 Comment has been sought from the federal environment minister, Josh Frydenberg. ||||| The Great Barrier Reef is worth $56 billion. 
 
 That's the "total asset value" according to a new Deloitte Access Economics report that calculates the World Heritage site's full economic, social and iconic brand value for the first time. 
 
 While many Australians would consider the reef priceless, Deloitte believes you can put a number on it. 
 
 It arrived at the $56 billion figure after an extensive six-month analysis that drew on research from dozens of economic and scientific sources, as well as a survey of 1500 people from 10 countries. ||||| Great Barrier Reef 'too big to fail' at $56b, Deloitte Access Economics report says 
 
 Updated 
 
 The Great Barrier Reef has a total asset value of $56 billion and is "too big to fail", according to a new report. 
 
 Key points: Deloitte Access Economics says GBR has calculated economic, social and iconic value of $56 billion 
 
 Tourism is the biggest contributor to the total asset value making up $29 billion 
 
 But tourist figures are down 50 per cent in the Whitsundays — operators say "this is as bad as it was during the GFC" 
 
 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. 
 
 Tourism is the biggest contributor to the total asset value making up $29 billion. 
 
 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. 
 
 Recreational users including divers and boaters make up $3 billion. 
 
 "That's more than 12 Sydney Opera Houses, or the cost of building Australia's new submarines. It's even more than four times the length of the Great Wall of China in $100 notes," the report states. 
 
 The report does not include quantified estimates of the value traditional owners place on the Great Barrier Reef and it said governments should consider doing more to protect it. 
 
 Climate change remains biggest threat 
 
 It also references the back to back coral bleaching events which have devastated the reef and says climate change remains the most serious threat to the entire structure. 
 
 "We have already lost around 50 per cent of the corals on the GBR in the last 30 years. Severe changes in the ocean will see a continued decline ahead of us," the report states. 
 
 "Today, our Reef is under threat like never before. Two consecutive years of global coral bleaching are unprecedented, while increasingly frequent extreme weather events and water quality issues continue to affect reef health," said Dr John Schubert AO, Chair of the Great Barrier Reef Foundation. 
 
 Association of Marine Park Tourism Operators executive director Col McKenzie said the reef is crucial to the industry. 
 
 "We don't have an industry without the Barrier Reef being in good condition." 
 
 He said the negative coverage of the reef relating to the destruction caused by Cyclone Debbie earlier this year and the bleaching event is having an impact on visitor numbers. 
 
 Mr McKenzie said tourist figures are down 50 per cent in the Whitsundays and it is being felt along the Queensland coast. 
 
 "The majority of the operators in Cairns say this is as bad as it was during the global financial crisis," Mr McKenzie said. 
 
 The Deloitte Access Economics report will be released on Hamilton Island today. 
 
 Sorry, this video has expired Video: Footage shows areas of the Great Barrier Reef in the Whitsundays devastated by Cyclone Debbie (ABC News) 
 
 Topics: great-barrier-reef, environment, oceans-and-reefs, business-economics-and-finance, environmentally-sustainable-business, tourism, industry, hamilton-island-4803, qld, cairns-4870, mackay-4740, townsville-4810, brisbane-4000 
 
 First posted ||||| It’s renowned as the world’s largest living thing… but of Australia’s celebrated natural assets, the Great Barrier Reef is also the biggest contributor to our national economy and our international brand. 
 
 Putting a price on it might seem impossible, given the Reef’s irreplaceable beauty and biodiversity. Of course it’s invaluable on so many levels, but identifying its value can help an appreciation of its importance, and shape thinking and policy around its future. 
 
 In a world first, this new Deloitte Access Economics report, for the Great Barrier Reef Foundation (with support from National Australia Bank and the Great Barrier Reef Marine Park Authority) calculates the total economic, social and icon asset value of the Reef. 
 
 And the number is $56 billion. 
 
 That’s a lot of reasons to think very carefully about the Reef’s future. 
 
 
 
 “This timely report is a much needed, holistic view of the incredible economic value and opportunities provided by the Great Barrier Reef. Any failure to protect this indispensable natural resource would have profound impacts not only to Australia but around the world.” 
 
 Al Gore
– A new report finds the Great Barrier Reef is too "critical" to fail—which is a problem since it's already failing. The report from Deloitte Access Economics notes the reef—with a "total asset value" of $42 billion, almost half of which comes from tourism—is the biggest contributor to Australia's economy, adding $4.85 billion per year while supporting 64,000 jobs, including 39,000 direct jobs, reports the Guardian. "The livelihoods and businesses it supports across Australia far exceeds the numbers supported by many industries we would consider too big to fail," the report states. In comparison, a new $16.5 billion coal mine in Queensland—which critics say is a threat to the reef—will contribute $154 million to the economy per year and will add 10,000 jobs. The Great Barrier Reef Foundation commissioned the report "to understand precisely what the reef contributes and, therefore, what we stand to lose without it," the chairman says, calling it "a call to action." The report notes half of all coral in the Great Barrier Reef has been lost in the last 30 years as a result of coral bleaching, extreme weather, and changes in water quality with "continued decline" expected, per ABC Australia. More than 60% of 1,500 people from 11 countries surveyed for the report said they would pay to protect the reef, per the Sydney Morning Herald and the BBC. It's understandable why, says Al Gore: "Any failure to protect this indispensable natural resource would have profound impacts not only to Australia but around the world." (This could help save the reef.)