New report keeps tabs on Auckland’s economic growth
A new report on the health of Auckland’s economy will become an annual indicator of progress in New Zealand’s biggest city.
The inaugural Auckland Growth Monitor, published by city’s tourism and economic development arm ATEED this afternoon, contains about 40 key indicators - covering areas from labour force, infrastructure investment, to the city’s Māori economy.
The monitor launches alongside the interactive, online Auckland Index tool, which enables users to pull out and collate different statistics sets on Auckland and New Zealand.
Patrick McVeigh, ATEED spokesman, said the monitor and index were designed to showcase economic and investment opportunities in Auckland.
“Globally, it tends to be known as a destination and as a high quality-of-life city,” McVeigh said,
“It tends to be less well-known as a business location, or a centre of innovation and centre for investment. We think it’s really important that we have that data available which allows us to communicate that story more effectively.”
Its specificity, and detailed breakdown of major industries in Auckland, also made it a for businesses, and investors.
“It has information about Auckland’s economy, and its competitive position with other cities globally. Understanding the labour market, which sectors are growing and where opportunities are, and where our key trading partners are is relevant to local businesses, Government and overseas organisations,” McVeigh said.
Sources for the information include Auckland Council, Statistics New Zealand, as well as various business data and monitors.
Auckland’s international education sector, which contributes $2.16 billion in annual GDP and makes up the majority of the overall sector nationally, has its own set of key indicators. Other sectors with dedicated sections in the monitor include technology, construction and tourism.
Both the online index and annual growth monitor would also be used by the council for planning purposes,” McVeigh said.
“The ability to track data over time [using the online index] gives us an indication how Auckland’s economy continues to develop and change, and then what sort of example that needs.
“For example: the technology sector. Forty-eight per cent of New Zealand’s technology sector is based in Auckland, and that starts to bring up important policy issues for us in terms of the availability of labour to support that sector to grow, and having the right type of business land and employment space across the city, as well as understanding what market opportunities there are and how to get connected to them,” McVeigh said.