Economic Activity Report 'lays out growth opportunities for regions'

Economic Development Minister Steven Joyce today released the 2015 Regional Economic Activity Report which highlights economic opportunities for regions across New Zealand.

The report by the Ministry of Business, Innovation and Employment provides the most recent facts from Statistics New Zealand on the economy of each region. It supports the Government’s Business Growth Agenda by increasing understanding of the New Zealand economy and its component regional economies.

"The Government has a full range of projects across the Business Growth Agenda to help regions capitalise on their economic opportunities. We will continue to work with business and community leaders across New Zealand to build on each region’s strengths and attract new investment.

"The key to success in each region is to build on its own unique mix of economic opportunities and competitive advantages to attract investment, and grow jobs and incomes." Mr Joyce says.

"For example Wellington will benefit from growing its ICT, creative and retail sectors, Nelson from sectors such as tourism and aquaculture, while South Auckland’s opportunities will come from its growing youth population, diversity and proximity to transport hubs."

This year’s Report expands on the information provided for each region and includes more in-depth analysis of comparative regional outcomes.

The Report is complemented by a data-and-functionality-enhanced web tool as well as a new mobile app with interactive maps and charts. This information will be regularly updated as new statistics become available.

"The improved web tool and new mobile app will make it easier for councils, business groups and people of different regions across New Zealand to compare and contrast the economies of different regions, and explore in more depth how economic growth can be achieved in their particular region," says Mr Joyce.

The data on regional incomes has been enhanced with estimates of household income for regional council and territorial authority regions. GDP data has also been improved, with estimates of regional GDP down to the territorial authority level.

The 2015 Report also includes a special feature on regional tourism, which forecasts an increase in tourism in New Zealand based on a solid foundation of spending from the Australian market, large increases in Chinese visitors and visitor spending, and strong growth from the United States.

The Regional Economic Activity Report and interactive website are available here: http://www.mbie.govt.nz/info-services/business/business-growth-agenda/regions