A new report from Deloitte has estimated the Social Value of the Sydney Opera House at $11.4 billion and indicates that the iconic venue is considered more Australian than Vegemite.

The Sydney Opera House at night, with an audience amassed on its stairs and forecourt viewing an outdoor concert.

The Sydney Opera House. Photo supplied

From 2022–23, the Opera House contributed $1.2 billion in value to the NSW economy and supported more than 8,000 full time employees. Its box office generated $10 million in gross revenue.

This year, the total value of the SOH’s land and buildings was given as $3 billion, while 72 percent of respondents agreed that the venue contributes to their personal and social well being.

The report also indicated that the SOH fell harder than most to international travel impacts as a result of COVID-19 in catering ‘more to international travellers than Sydney more broadly’, though Deloitte predicts the return of international tourism to pre-pandemic levels by the end of 2024.

In 2022–23, the SOH contributed more than $824 million as a result of tourism, with more than...