Mar 11 2020
IBISWorld has released a special report analysing the economic impact of the unprecedented 2019-20 bushfire season in Australia. This report, compiled by a team of senior industry analysts, outlines the impact of the bushfires on the agriculture, construction, insurance, tourism, and transport sectors. The bushfires that blazed across Australia from September 2019 until early February 2020 are expected to have burnt over 46 million acres of land across the country – equivalent to over two-thirds of the area of France. All states were affected, but the most significant damage occurred in New South Wales, which accounts for about 33% of Australia’s economy. The bushfires are expected to negatively affect short-term economic growth, particularly over the remainder of the current financial year. IBISWorld has downgraded its GDP forecast for 2019-20 from 2.2% to 2.0% as a result of the bushfires.
For more information, to obtain industry reports or to arrange an interview with an analyst, please contact:
Strategic Media Advisor – IBISWorld Pty Ltd
Tel: 03 9906 3647