SLE WORLDWIDE AUSTRALIA PTY LTD
SLE Worldwide Australia is a Managing General Underwriter specialising in insuring risks in the world of Sports, Leisure and Entertainment. Be it relaxing, playing, organising or watching sports,…
read moreAn international study has found that the economic cost of coral bleaching of the Great Barrier Reef would be $37.7 billion.
The Oxford Economics report, which values the reef at $51.4 billion, also found up to 50% of tourists who would normally visit the reef would stay away from Queensland if bleaching was permanent, devastating Queensland's tourism industry.
The study was commissioned by the Great Barrier Reef Foundation to set an economic benchmark for the natural asset.
The Foundation's John Schubert says the figures paint a disturbing picture for tourism and local communities that directly benefit from their proximity to the reef, rReferring to the study as "a wake-up call."
Coral bleaching occurs when rising water temperature, salinity or acidity in seawater affects the corals. It can kill the corals if the conditions continue for a month or more. The threat to the reef from coral bleaching is one of the most popularly recognised effects of climate change.
If greenhouse gas emissions are not reduced globally, the Great Barrier Reef is expected to be one of the first of Australia's World Heritage sites seriously damaged. But Dr Schubert warned that with climate change happening much faster than predicted, Australia must plan to ''adapt'' the reef to save it from some level of damage scientists say is inevitable.
"There needs to be extra emphasis on the adaptation side," said Dr Schubert, who is also the outgoing chairman of the Commonwealth Bank and sits on the board of BHP-Billiton and Qantas. He said the report by Oxford Economics was a conservative assessment of the losses if the reef was damaged by permanent bleaching.
Foundation Managing Director Judy Stewart expects the economic study will set a new standard for valuing the environment stating "I expect that the methodology will be looked at in great detail by other economists looking at other environmental assets elsewhere, as well as how we value coral reefs elsewhere."
Image: Snorkelling at Fitzroy Island.
28th April 2009 - FITZROY ISLAND RESORT GOES INTO RECEIVERSHIP
Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?
The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.
However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.
Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.
Subscriptions cost just $90 a year.
Click here to subscribe.
The Complete Guide to Leisure Industry Products & Services.
SLE Worldwide Australia is a Managing General Underwriter specialising in insuring risks in the world of Sports, Leisure and Entertainment. Be it relaxing, playing, organising or watching sports,…
read moreSwimplex Aquatics are a world-class company dedicated to the commercial pool, waterslide industry. We are Australian market leaders servicing all states Australia wide. Swimplex provide a full…
read morePolin was founded in Istanbul in 1976, and has since grown into a leading company in the waterparks industry. Today Polin is one of the world leaders in the design, production, and installation of…
read moreOtium Planning Group is a contemporary sport and leisure consultancy providing services in planning, facility development, management and funding for the sport, recreation and leisure industries…
read moreAs of the 1st July 2018, Enta Australasia Pty Ltd/Best Union has been rebranded as VIVATICKET Pty Ltd. 19th July 2018 - ENTA AUSTRALASIA REBRANDS AS VIVATICKET 17th October 2016…
read moreWe are Aussie Strength. The ultimate supplier for Commercial Gym Equipment that's built to deliver in the toughest environments. From USA-Built hardcore weight training equipment from Arsenal…
read morePrincipal Consultant Simon Weatherill has spent the last 20 years developing the world renowned Melbourne Sports Hub, as former Chief Executive Officer of the State Sports Centres Trust…
read moreGet your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!