6.8.3 Impacts on economic values

Grading statements — Impacts on ecological, heritage, economic and social values

Status
Very low impact
Very low impact

Few or no impacts have been observed and accepted predictions indicate that future impacts on the Region’s ecological, heritage, economic or social values are minor.

Low impact
Low impact

Some minor impacts have already been observed and there is concern that, based on predictions, there will be significant but localised impacts on the Region’s ecological heritage, economic or social values.

High impact
High impact

Current and predicted future impacts are likely to significantly affect the Region’s ecological, heritage, economic or social values. Concern about serious ecosystem, heritage economic or social effects within the next 20–50 years.

Very high impact
Very high impact

Current and predicted future impacts are likely to irreversibly destroy much of the Region’s ecological, heritage, economic or social values. Widespread and serious ecosystem, heritage, economic or social effects likely within the next 10–20 years.

or

Borderline

Borderline Indicates where a component or criterion is considered close to satisfying the adjacent grading statement.

Confidence

Confidence

Adequate high-quality evidence and high level of consensus

Limited evidence or limited consensus

Inferred, very limited evidence  

Criterion and component summaries
Grade and trend
Confidence
Grade
Trend
Summary Heading
Impact on economic values

The economic value of Reef-dependent uses relies on a healthy Reef ecosystem. For non-Reef-dependent uses, economic value is aligned with market forces and population growth in the Catchment. Effects of ecological declines have become apparent over the past few years. Global and national disruptions due to management of the COVID-19 pandemic led to economic impacts on industries. 

Summary Heading
Climate change

Climate change effects on the Region’s natural heritage are expected to have major economic consequences for Reef-dependent industries, including tourism and fisheries. Tourism operators have shown adaptability and resilience since 2019, so significant economic losses for this reef-dependent industry due to climate change impacts have not yet been realised. Other industries, such as recreational and commercial fisheries, that are dependent on reef-associated fish can also be affected by climate change. More frequent severe weather also poses a significant economic and social risk to the Queensland community as ecosystem services provided by coral reef ecosystems, such as coastal protection, decline.

Summary Heading
Coastal development

Population growth, poorly managed land use, development and infrastructure in the Catchment may affect the marine ecosystem. Changes in land use resulting in poor water quality can also affect recreational and tourism activities, particularly in inshore and coastal areas. Indirectly, this would place pressure on the profitability of Reef-dependent uses.

Summary Heading
Land-based runoff

The Region is vulnerable to the effects of poor water quality. Resulting declines in ecosystem health will affect the economic growth of Reef-dependent industries. Slow progress in achieving water quality targets is likely to impair the recovery of inshore ecosystems, so it will continue to affect important inshore tourism sites. If improvements in land-based management practices continue, impacts may decrease in the future. 

Summary Heading
Direct use

Direct use of the Region continues to be a significant contributor to regional and national economies. All direct use was affected by management of the COVID-19 pandemic to some degree, with some significant economic impacts. However, in 2023 most industries are returning to pre-pandemic levels. Recreation, shipping and port activity are projected to increase. Future economic value of many Reef-dependent activities is intrinsically linked to the condition of the Reef.