Geospatial Information to boost Australia’s GDP by $81 Billion by 2034

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The Geospatial Council of Australia (GCA) revealed in their report that by 2033-34, the geospatial industry could boost Australia’s GDP by an additional $81 billion.

Announced in Sydney at Locate24, GCA’s annual national geospatial conference, this headline result is part of the ‘Economic Impact of Geospatial Services in Australia’ study. This groundbreaking research, the first since 2008, was conducted by ACIL Allen and commissioned by GCA. It highlights the sector’s vital role in navigating the complexities of the post-pandemic era and projects its potential economic contributions in 2034.

Geospatial services are indispensable for enhancing productivity, managing natural resources, and improving the welfare of Australians. Key projections include a $39 billion contribution to GDP and over 12,000 jobs by 2023-24, with potential growth to $81 billion and an additional 22,000 jobs by 2033-34 under favorable conditions. These projections are considered conservative, pending the future incorporation of impacts from emerging technologies like digital twins.

The report also details the geospatial sector’s influence by state and territory, alongside sector-based case studies that illustrate the broader value of geospatial services to the Australian economy.

“The geospatial sector is critical to the economy. Few, if any, industry sectors are not using geospatial technologies in their operations,” says Tony Wheeler, CEO of GCA. “By understanding where we stand today and envisioning our potential influence on the national economy over the next decade, we are shaping policies that will not only foster growth but also position the geospatial sector at the heart of Australia’s broader narrative.”

This preliminary report serves as a precursor to a more detailed report scheduled for release at the end of June. A copy can be downloaded here: https://bit.ly/4dJsDvF.

Source: Geospatial Council of Australia

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