News

17 July 2013

Value of Location: Oxera Consulting

European economics firm, Oxera Consulting Ltd, in January 2013, estimated that global revenues from geospatial services and products are between $150 to $270 billion per year. Benefits to the economy, consumers and businesses alike include: 3.5 billion litres of gasoline saved globally each year due to improved navigation; faster emergency services responses; as well as significant time savings, a more informed population through access to information on cities and places of interest, a more educated workforce, and increased business competition.

In Australia, these geospatial benefits are delivered through PSMA Australia Ltd. Each of the governments of Australia is a shareholder, enabling the social, economic and environmental benefits from a suite of national geospatial datasets to flow through to Australian society and economy.

Read more fromĀ Spatial Source.

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