June 26 (UPI) -- The total value of Australia's ecologically imperiled Great Barrier Reef is $42 billion, a report released Monday shows.
The analysis by Deloitte Access Economics, funded by the non-profit Great Barrier Reef Foundation, indicates the reef's "economic, social and icon value." It said the 1,400-mile coral reef system, the world's largest, off Australia's northeast coast supports 64,000 jobs in the country in tourism, recreational use and brand value.
The reef has been affected by coral bleaching, a phenomenon in which living coral starves and turns white. The Australian government's Great Barrier Reef Marine Park Authority blames a rise in ocean temperatures for the death of the coral.
"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. 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," said foundation director Steve Sargent.
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He said the value of the reef, as a brand, is 12 times higher than another familiar Australian icon, the Sydney Opera House.
"Australians want their children and future generations to be able to visit the Great Barrier Reef and enjoy it. From a global perspective, the Great Barrier Reef's importance to the planet and to biodiversity is paramount. By every measure, the Great Barrier Reef is seen as the natural asset contributing most powerfully to Australia's global brand. In our research, the Great Barrier Reef left other Australian land-based natural assets far behind in terms of visitor preference, reputation and experience," the report said.
