A new report by the federal government says earth and marine observation could be worth $2 trillion to Australia and the rest of the Asia-Pacific by 2030.
The report says earth and marine observing is currently worth $29 billion to Australia and $543 billion to APEC economies. But the report forecasts bullish growth, with the value to Australia set to increase to $96 billion by 2030, or to $101 billion if Australia makes the most of opportunities to collaborate with other APEC economies.
Minister for Industry, Science and Technology Karen Andrews launched the report at last week’s 2019 GEO Week in Canberra, put on by the international Group on Earth Observations.
“Digital technologies using Earth observation data are changing the way we live and work and offer opportunities to deliver enormous economic growth and job creation across a variety of industries,” Minister Andrews said.
“This data can be used to improve transport logistics, increase agricultural productivity and predict weather changes to improve natural disaster response.
“This report further emphasises how embracing digital technologies will help to grow our economy, create local jobs and benefit everyday Australians.”
The report also found there was an extra $183 billion in value to be realised by 2030 if the APEC regions works together.
The federal government has invested $36.9 million in Digital Earth Australia, which uses satellite technology to produce useful information in areas such as soil and coastal erosion, land-use, resource management and the availability of water. This investment is part of the government’s broader plan to use earth observation and mapping technology to create new opportunities and grow the economy.
The full report Current and future economic value of Earth and marine observing to the Asia-Pacific region report can be accessed from industry.gov.au/APECEMOreport.