Chart of the month: not only is Wellington City the worlds’ most liveable city it is also New Zealand’s most creative.
Infometrics has updated its Creativity Index for 2017 and Wellington retains the top spot.
Over the past few months, rental car purchases have caused wild swings in the number of new registrations . The rental car market relies heavily on the tourism industry, which has boomed over the past few years but now looks to be cooling. For the following article we will take stock of the rental car market and recent trends.
Airbnb’s explosive growth has been integral in helping to ease accommodation bottlenecks in the New Zealand tourism sector over the past year. There are now around 20,000 listings on Airbnb in New Zealand and hosts earned a total of $55m over the March 2017 year. Of the $55m spent on Airbnb accommodation in New Zealand over the past year, $22m was spent in Auckland and $17m was earned by hosts in Queenstown-Lakes District.
Queenstown-Lakes District was New Zealand’s top performing territorial authority during 2016, with employment expanding by a stonking 10.3% over the March 2016 year. This growth was almost four times the 2.7% rate of employment expansion seen nationally, and well above the 5.9% employment growth recorded by second-placed Western Bay of Plenty District. This article reveals more about Queenstown’s stellar year, along with a sneak peek at Infometrics’ 2016 Regional Economic Profile (official release: February 28) to see which other places also had rapid employment growth.
This week has been an eventful one for us here at Infometrics. Even though our Wellington office is closed, we’re still up and running, working from home. The same, unfortunately, cannot be said for Statistics NZ – their building has sustained severe damage and a few data releases have been delayed this week. These recent events have prompted us to focus on New Zealand’s disaster resilience and the effects this earthquake will have on our tourism industry.
It has been a good year so far for most parts of regional New Zealand, with much of the country enjoying healthy economic growth across a range of spending, investment, and labour market indicators. For many places, renewed interest in their local economies has been a welcome change, after years of subdued spending and population stagnation. This article gives a quick round up of some key themes apparent in Infometrics’ June 2016 Quarterly Economic Monitor, with links to more insights about selected areas.
Soaring international visitor arrival numbers have thrown the spotlight on New Zealand’s tourism sector, with concerns expressed about whether we have the infrastructure to cope with the massive lift in arrivals that has occurred over the last three years. John Key has pledged $12m to provide better facilities, such as public toilets, to areas with small populations but a big tourism presence. The government has also established “Project Palace” to try and attract investment for the construction of new hotels, with the availability of accommodation becoming a significant constraint in many parts of the country.
The services industry is a key component of New Zealand’s economy, employing about 400,000 people or 18% of all workers in New Zealand. It relies heavily on young people with 30% of workers aged 15-24. Many of these young people work part time, often to fit work around other commitments like school or tertiary study. Some of these young workers stay on in the sector to become experts in their field, like world renowned chef Josh Emett while others stay for a short period of time, like I did, and learn valuable transferable people skills that can be used in other aspects of their working lives.
With capacity constraints in the commercial accommodation sector biting, it is time that private accommodation provision is embraced as part of solution to managing peak load in the tourism sector. This article quantifies the scale of the private accommodation resource and why the public sector is failing to take it seriously.
Fears that we’d have to lower flags to half-mast to mourn the demise of the domestic economy during 2016 now seem to be ill-founded. Confidence levels have improved over the last six months, and indicators of the labour market and household spending have been fluttering in the wind. Tourists and immigrants have been flocking to our shores and boosting activity – once they’ve realised that our four-star offering is superior to Australia’s six-star version.