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PM - Economists put a price on Great Barrier Reef
[This is the print version of story http://www.abc.net.au/pm/content/2003/s973013.htm]
PM - Wednesday, 22 October , 2003 18:48:46
Reporter: Ian Townsend
PETER CAVE: There's no doubt the Great Barrier Reef is
one of the greatest treasures of the world.
But two American economists have now put a price on it.
The Yale University researchers believe the recreation value of the reef is more than two billion Australian dollars a year. Now, that makes it one of the world's biggest ecotourism earners, as Ian Townsend reports.
IAN TOWNSEND: The study by the two economists from Yale University is being published in Ambio, a journal of the Royal Swedish Academy of Sciences.
It's looked at the tourism value of the reef and tried to put a price on it.
And what's it worth?
(sound of a cash register)
Somewhere between $700 million and $1.6 billion US a year for the world, and about $557 million Australian dollars for Australia, but what does that mean?
Economists say that two million tourists spend around $1,200 each visiting the reef.
Those are the sort of figures environmentalists want to hear.
Imogen Zethoven is from the environmental group, WWF Australia.
IMOGEN ZETHOVEN: I think if you're looking at it simply from a hard nosed economic perspective you would certainly put in policies that protect the reef from the perspective of ensuring the tourism industry can continue using it sustainably into the future and generate millions of dollars every year for the wealth of Australians.
There's just no doubt that that is the primary economic value, if you like, of the Great Barrier Reef and it just makes sense to put in policies that support the tourism industry, and we already know the tourism industry strongly supports a higher level of protection for the Great Barrier Reef.
IAN TOWNSEND: The study warns that rising sea temperatures might start damaging the reef and eroding its value. It also warns that any damaging mining or fishing industries should be reviewed to see if they're worth the damage.
But fishermen say part of the tourist attraction of the reef is fishing.
John Olsen is President of the Queensland Seafood Association.
JOHN OLSEN: What we can have here is we can have our cake and eat it too.
I mean, we can have a good tourism industry and a really good fishing industry because the commercial fishing industry, and recreational for that matter, play a major part and are a major part of tourism in the Great Barrier Reef Marine Park.
IAN TOWNSEND: So when tourists go to the Reef they want to eat the fish?
JOHN OLSEN: Exactly what they want to do.
I believe that something like 48-odd per cent of tourists expect that there should be fresh local seafood on the menu at restaurants when they go out to eat.
IAN TOWNSEND: There is a perception that some forms of fishing damage the reef, some forms of trawling for instance.
JOHN OLSEN: Exactly, there certainly is that perception.
That's unfortunate because we've already been through the things like the east coast trawl where we've now got an ecologically sustainable fishery that's been recognised by GBRMPA in the far northern section, and we've now got a coral reef line plan coming into place…
IAN TOWNSEND: So is there any need really to restrict fishing further do you think?
JOHN OLSEN: No, not at all, not at all.
What this is… this study I'm sure has taken quite some time to do, it's probably not up to date with where everything is really at.
IAN TOWNSEND: What's the fishery worth? Do you have a figure at all?
JOHN OLSEN: Hundreds of millions, hundreds of millions, round about 400-odd million dollars I think the number is.
So all in all, it's very easy to quote tourism but forget about the major components and contributors to tourism which are fishing, both commercial and recreational.
IAN TOWNSEND: The Great Barrier Reef Marine Park Authority is already finalising plans to increase the no fishing zone to cover nearly a third of the reef.
These new figures probably won't do much to change present policy, but it does give environmental groups ammunition, especially the claim by the economists that the Great Barrier Reef is the world's most valuable coral reef, an asset it says is probably worth 18 to 40 billion US dollars to the world economy.
PETER CAVE: Ian Townsend reporting.
But two American economists have now put a price on it.
The Yale University researchers believe the recreation value of the reef is more than two billion Australian dollars a year. Now, that makes it one of the world's biggest ecotourism earners, as Ian Townsend reports.
IAN TOWNSEND: The study by the two economists from Yale University is being published in Ambio, a journal of the Royal Swedish Academy of Sciences.
It's looked at the tourism value of the reef and tried to put a price on it.
And what's it worth?
(sound of a cash register)
Somewhere between $700 million and $1.6 billion US a year for the world, and about $557 million Australian dollars for Australia, but what does that mean?
Economists say that two million tourists spend around $1,200 each visiting the reef.
Those are the sort of figures environmentalists want to hear.
Imogen Zethoven is from the environmental group, WWF Australia.
IMOGEN ZETHOVEN: I think if you're looking at it simply from a hard nosed economic perspective you would certainly put in policies that protect the reef from the perspective of ensuring the tourism industry can continue using it sustainably into the future and generate millions of dollars every year for the wealth of Australians.
There's just no doubt that that is the primary economic value, if you like, of the Great Barrier Reef and it just makes sense to put in policies that support the tourism industry, and we already know the tourism industry strongly supports a higher level of protection for the Great Barrier Reef.
IAN TOWNSEND: The study warns that rising sea temperatures might start damaging the reef and eroding its value. It also warns that any damaging mining or fishing industries should be reviewed to see if they're worth the damage.
But fishermen say part of the tourist attraction of the reef is fishing.
John Olsen is President of the Queensland Seafood Association.
JOHN OLSEN: What we can have here is we can have our cake and eat it too.
I mean, we can have a good tourism industry and a really good fishing industry because the commercial fishing industry, and recreational for that matter, play a major part and are a major part of tourism in the Great Barrier Reef Marine Park.
IAN TOWNSEND: So when tourists go to the Reef they want to eat the fish?
JOHN OLSEN: Exactly what they want to do.
I believe that something like 48-odd per cent of tourists expect that there should be fresh local seafood on the menu at restaurants when they go out to eat.
IAN TOWNSEND: There is a perception that some forms of fishing damage the reef, some forms of trawling for instance.
JOHN OLSEN: Exactly, there certainly is that perception.
That's unfortunate because we've already been through the things like the east coast trawl where we've now got an ecologically sustainable fishery that's been recognised by GBRMPA in the far northern section, and we've now got a coral reef line plan coming into place…
IAN TOWNSEND: So is there any need really to restrict fishing further do you think?
JOHN OLSEN: No, not at all, not at all.
What this is… this study I'm sure has taken quite some time to do, it's probably not up to date with where everything is really at.
IAN TOWNSEND: What's the fishery worth? Do you have a figure at all?
JOHN OLSEN: Hundreds of millions, hundreds of millions, round about 400-odd million dollars I think the number is.
So all in all, it's very easy to quote tourism but forget about the major components and contributors to tourism which are fishing, both commercial and recreational.
IAN TOWNSEND: The Great Barrier Reef Marine Park Authority is already finalising plans to increase the no fishing zone to cover nearly a third of the reef.
These new figures probably won't do much to change present policy, but it does give environmental groups ammunition, especially the claim by the economists that the Great Barrier Reef is the world's most valuable coral reef, an asset it says is probably worth 18 to 40 billion US dollars to the world economy.
PETER CAVE: Ian Townsend reporting.
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