Australian Commercial Marine Industry's Economic Impact Revealed

Commissioned by ACMG and prepared by independent economic consultants AEC Group, the EIS offers the most detailed assessment to date of the commercial marine sector's economic footprint. It encompasses various facets of the industry, including tourism, logistics, manufacturing, and trade, providing a holistic view of its impact.

Key findings from the report include:

• $50.93 billion in annual business output generated by the sector.
• $25.16 billion contribution to Australia's Gross Product.
• 137,262 full-time equivalent jobs supported nationwide.
• $14.2 billion in wages paid to Australian households each year.

David Good, CEO of ACMG, emphasized the significance of these findings, stating that the study serves as a pivotal benchmark for industry growth and underscores the sector's value in national decision-making processes. He highlighted that, for the first time, there is robust, independent evidence capturing the full scale of the industry's contribution to jobs, productivity, and national prosperity.

The EIS defines the commercial marine sector with clarity, covering passenger vessels, event and function boats, workboats, deep-sea charter fishing vessels, and tourist boats. Notably, it excludes vessels primarily used for leisure, such as houseboats, as well as defense, cargo, freight, and cruise ships.

The report also underscores the importance of the sector's supply chains, which extend across transport, tourism, advanced manufacturing, engineering, and marine science. This interconnectedness highlights the sector's integral role in various facets of the Australian economy.

Geographically, New South Wales emerged as the largest economic driver within the sector, closely followed by Queensland. With the upcoming Olympic Games, Queensland is expected to surpass New South Wales, provided the comprehensive 2032 Marine Project currently under government consideration is adopted.

The full findings of the EIS were presented at the ACMG Great Barrier Reef Conference in Cairns, where industry leaders, operators, and suppliers convened to discuss the study's implications for the future development of Australia's commercial marine industry.

For more detailed information, the Australian Commercial Marine Economic Impact Statement is available to ACMG members and stakeholders via the Australian Commercial Marine Group's official channels.