Auckland's economic growth 'spectacular'
posted on 29th May 2017
A new report from Auckland Council's chief economist says Auckland's economic growth is 'spectacular' and an extra 60,000 jobs were added last year. The growth will be good news for those looking to set up businesses in the city, while the increasing congestion may encourage others to seek opportunities in other parts of the country.
'Auckland's growth is spectacular, certainly very strong, driven by population, tourist and the construction boom which is creating a lot of jobs,' said economist David Norman.
Auckland annual employment growth is running at 7.3 per cent, compared to 4.9 per cent for the rest of New Zealand.
Norman highlighted population growth, construction sector activity, demand for goods and services, tourism and the retail sector as the big economic growth drivers.
The 60,000 additional jobs were created in professional services (including law, accounting, finance, consultancy, architecture), construction (one in every eight jobs), hospitality (one in every eight jobs) and health care and social services (one in every 10), Norman told the Herald.
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