A report released this week has found that Australia’s oceans
provide economic value worth over $69 Billion a year, a whopping
$25 Billion more than is officially recognised. This highlights
that marine protected areas are a critical tool in helping to
secure a healthy marine environment and strong economic future
for all Australians. The Report, “Stocking Up: Securing Our
Marine Economy,” was released by the Centre for Policy
Development, and is the first national effort to quantify the
value of Australia’s ocean resources. The study found that
official accounts overlook $25 billion per year in ecosystem
services, such as carbon storage, seafood, recreation and
tourism, which Australia’s oceans contribute to the national
economy. The Report advises that to secure our marine resources
for all Australians, support long-term jobs in commercial
fishing and marine tourism, and provide better catches for
recreational fishers, we need to: protect our marine
biodiversity, re-build fish stocks, align short-term comme