Value of the Spatial Industry to the Economy
The Australian National Accounts do not capture the full extent of the spatial information industry. However it is conservatively estimated that industry revenue in 2006-07 could have been of the order of $1.37 billion annually and industry gross value added around $682 million.
The economic footprint of the Australian spatial information industry is considered to be larger than this. Spatial information is increasingly being used in most sectors of the economy where it is having a direct impact on productivity.
Spatial worth $1.4 Billion, contributes $12.6 B to GDP
The spatial information industry has been confirmed as a major contributor to the Australian economy, generating revenue of $1.37 billion in 2006-07 and contributing between $6.4 and $12.6 billion to Gross Domestic Product, a study by ACIL Tasman has revealed.
The independent study is the world’s first authoritative analysis on the economic impact of spatial information and demonstrates a higher than expected industry value. It was commissioned by the CRCSI with support from ANZLIC, Australia’s Spatial Information Council. It is based on analysis of 22 sectors of the Australian economy.
The study found that the spatial industry:
- increased household consumption by between $3.6 and $6.9 billion
- increased investment by between $1.8 and $3.7 billion
- had a positive impact on the balance of trade with exports increasing by up to $2.3 billion
- increased real wages by between 0.6% and 1.2%.
The study estimates that inefficient access to data reduces the direct productivity of some sectors by between 5% and 15%, and highlights the reasons for this.
The impact of spatial information on key sectors is demonstrated. These include agriculture, forestry and fisheries; mining and petroleum; property and business services; construction; transport and storage; utilities; communications; retail and trade; tourism; manufacturing; and local, state and federal government.
“The study confirms the enormous future potential from increased adoption of spatial information and from new applications across a wider range of industries,” said Peter Woodgate, Chief Executive Officer of CRCSI.
“We have now captured the importance of spatial information in hard economic terms. This emphasises the critical importance of spatial information to Australia, its people, its environment and its economy.”