One of the Geospatial Council priorities is to complete an economic impact assessment of geospatial on the national economy.
This study will measure the direct economic impact that our industry has on the economy.
According to a 2021 Deloitte Economics study that Geoscience Australia commissioned, the economic impact of seabed mapping alone is estimated to be $9 billion.
However, when all of the other segments are included this figure is likely to grow substantially by the inclusion of other sectors such as property, construction, resources, energy, water and environment, agriculture, transportation and logistics, and defence also heavily rely on these services.
To better understand the full economic impact of geospatial services, a second stage of the study will examine the skills gap and its effect on economic growth. By presenting a compelling argument to federal and state governments, we hope to receive support in addressing the skills problem.