The feeling of riding a wave might be priceless, but a new study has put a dollar value on what surfing means to Australia.

Research from the Australian National University (ANU) has found surfing injects $2.7 billion into the Australian economy each year, with surfing considered to be the country's second-most popular water-based sport after swimming.

It found the average adult surfer spent $3,700 annually on travel and equipment, which can include everything from funds for accommodation, petrol and parking down to sunscreen, wetsuits and surfboards.

"What we're trying to get across is an understanding that waves and the surf breaks that generate those waves are valuable," ANU survey lead Ana Manero said.

'First of its kind' study

Dr Manero said the study was "the first of its kind at the national level", citing a lack of research on the economic impact of Australia's surfing culture despite its popularity.

She also found infrastructure, climate change, coastal erosion and overcrowding pressures could affect waves and, in turn, the economy.

Dr Manero has called for a greater focus on protecting Australia's valuable surf spots, pointing to a previous ANU study which found a surf break off the coast of Mundaka in northern Spain disappeared following the dredging of a river mouth.

She has also cited the expansion of the Ocean Reef Marina in Perth, WA, which she said resulted in the loss of three surf breaks in 2022.

Between these cautionary tales, and the latest ANU study, Dr Manero believes there should be more formal legal protection for waves through the form of national legislation, as seen in New Zealand and Peru.

"There's only a few waves across NSW and in Victoria that have any form of legal protection … so what we're trying to do with this study is document the value that this asset provides."

The research found that of Australia's 1,440 documented surf breaks, 20 had some form of legal protection, including Lennox Head, Cronulla and Bells Beach.

These were in the form of NSW Crown Lands Act 1989 and Victoria's Heritage Act 2017. 

World Surfing Reserves and surf management plans also exist in Australia, but Dr Manero said they lack legal weight. 

Good for the mind

Surfing World Magazine editor Sean Doherty said the research serves as proof that surfing has value.

He wasn't surprised by the $3,700 annual cost either.

"Knowing some of my friends, I'm surprised it's that low actually, certainly for the more committed fringe," he said.

"A new surfboard is $800 to a thousand bucks, a wetsuit's 600 bucks ... that three-and-a-half grand would disappear pretty quickly i reckon."

Data was collected via an online survey between February and May 2023, which returned 569 responses.

That data was aggregated to a population of 727,382 adult surfers in Australia, as reported by the Australian Sports Commission.

Aside from the economic value of surf breaks, the study highlighted the mental benefits they could bring, with 94 per cent of respondents finding that surfing improved their mental health.

Kirsty Furbank, who has been surfing since she was 11 and now runs a surf school at Bermagui on the New South Wales far coast, agreed with the finding.

"I think with surfing, the thing I find most beneficial is how much it brings me into the present moment," she said.

"The ocean is so unpredictable and when you're out there, you have to focus on what's coming."