A timely new report Economic Values of the Northern Territory Marine and Coastal Environments was launched at Parliament House on Thurs 7th June. Authored by some of Australia’s leading ecological economists this report shows that our coastal waters support over 6,000 jobs and contributes $2billion annually to the economy.
This new report shows what is at risk if we fail to adequately manage and protect Top End coasts.
This new report highlights:
- Marine and coastal tourism make the biggest contribution to the economy ($691m/yr), supporting over 5,500 jobs.
- The value of mangroves, seagrasses and tidal saltmarshes for the NT coastal waters is estimated at $65m/yr.
- Although in many regards they are priceless, Indigenous cultural values are worth about $52.5m - $412m annually.
- Recreational fishing is estimated to have a direct economic value of $21.3m annually, a total contribution worth about $76m annually.
Now, with this report, we know that our coasts and seas contributes $2 billion every year to the Territory economy, and supports more than 6,000 jobs.
Not only are they central to our economic success, they underpin our unique Top End culture and lifestyle - Territorians have a special connection to our coasts.
We need a Plan that will properly protect our coasts, and their economic value, into the future.