The value of Australia’s national biosecurity system is A$314 billion. That’s according to modelling conducted by the Centre of Excellence for Biosecurity Risk Analysis (CEBRA) at the University of Melbourne.
CEBRA determined that Australia’s biosecurity system will prevent $314 billion of damages (based on present value) to our agriculture, environment and human amenities over the next 50 years. The combined value of the assets the system protects over that period is more than $5.7 trillion.
Cathryn Geiger, head of Biosecurity Risk and Innovation, said the model demonstrates why Australia invests in biosecurity.
“The $314 billion of damages that will be avoided over the next half century shows why we invest in a good, strong system, and look for ways to stay ahead of the curve with innovative technology,” Ms Geiger said.
“We will see about a $30 return for every dollar invested by the Australian Government.”
CEBRA said the model will be refined and used to help the Australian Government finetune its biosecurity activities to get the best return on investment possible.
Read the original article in Biosecurity Matters Newsletter Edition 5 Dec 2020 here.