As Tāmaki Makaurau Auckland reflects, responds and regenerates following the adversities of recent years, it’s clear our region punches well above its weight on the world’s stage.
Thanks to our dynamic business community’s strength and resilience, Aotearoa New Zealand’s economic powerhouse continues to drive the country’s economy, providing opportunitiesfor people, businesses and sectors to thrive.
Tāmaki Makaurau contributes a significant 38 per cent to the national GDP. It’s also an international hub of commerce, and headquarters for more than 60 per cent of the country’s leading companies.
Smart, hard-working people make up this thriving business sector. The strength of Tāmaki Makaurau lies in its diverse demography which stimulates our local and international economy. From those who build and lead businesses, to the innovators, marketers and creators who bring ideas to life, talented people are at the heart of Auckland’s economic success.
Tātaki Auckland Unlimited is Tāmaki Makaurau Auckland’s economic and cultural agency committed to making our region a desirable place to live, work, visit, invest and do business.
The region’s economic growth has its challenges. We face a double-edged sword: Inflationary pressures increase costs, while subdued global demand stifles growth.
Our strong reliance on export trade (goods and services such as tourism) exposes us to unstable global markets. Distance from major markets can also disrupt competition, leaving local businesses with increased logistical and freight costs.
Across the Tasman, Australian cities attract businesses and skilled workers, often through financial incentives. While our labour market shows signs of improvement with skill shortages easing, we can learn from our international peers to improve business models, innovation, and knowledge capital.
Thankfully, we’re shifting towards growing our clean and green technology, digital, and creative industries — a crucial step for Auckland and New Zealand’s economic future.
Tech companies are shaping our region’s future. For example, Auckland was home to 112 of the country’s top 200 tech companies (TIN200) in 2022.
Whether it’s thanks to Auckland’s film studios, a city centre attracting leading firms, an innovation network radiating out from GridAKL in Wynyard Quarter to hubs in the south, west and east, or the development of a creative industries centre in Henderson, the creative and tech sectors present potential and opportunity.
These sectors and the talented people behind them are propelling our region towards a future characterised by fast growth, highly skilled jobs, higher wages, and increased productivity.
We’ve also seen significant advancements in the startup market, with converging digital and creative industries making waves internationally. West Auckland’s Grinding Gear Games is now one of the country’s largest gaming developers. In 2018, following the success of its online role-playing game Path of Exile, Chinese internet giant Tencent Holdings purchased a majority share enabling it to expand its Auckland studio and hire more people.
Auckland’s cleantech ecosystem is also a source of pride, with innovative companies generating revenue, creating jobs, and heavily investing in research and development. The region’s tech sector will help power long-term economic growth, innovation, productivity, state of living and wellbeing. In 2022, Tātaki Auckland Unlimited launched Tech Tāmaki Makaurau to establish Auckland as a global ‘tech city’, create jobs and attract talent and investment.
Businesses are using digital solutions to navigate new challenges. More than 12,000 Auckland businesses impacted by COVID-19 lockdowns accessed Activate Tāmaki Makaurau — the Tātaki Auckland Unlimited-delivered programme for the Government’s Auckland business support package.
Through connecting industry experts with the know-how to put business solutions including digital tools into action, local businesses are now better equipped to navigate disruptions, be more efficient and reach more customers.
This brings me to the vital role Tātaki Auckland Unlimited plays in supporting local businesses and attracting international investment through our work to support investors, entrepreneurs, and multinationals.
By leveraging Auckland’s unique trade and investment proposition, together with central government support, we hope to explore new markets and increase collaboration among local and international businesses.
Last year, we supported 12 Auckland startups at the Cleantech Group Forum North America in San Diego, providing a platform to connect with international counterparts and potential partners. We continue to foster international relationships with our partner cities — including Los Angeles, Brisbane, and Guangzhou — and connect and learn from others. Earlier this year we presented at the G-NETS (Global Network for Sustainability) summit in Japan alongside 40 other cities to share knowledge and build connections.
As Auckland’s economic agency, we provide valuable assistance to businesses moving here, such as Bridgewest Group — an arrival that illustrates the region’s global appeal.
Plans for the Indigo Hotel at 51 Albert St in Auckland.
Auckland’s new $250m Hotel Indigo, due for completion next year for Australian property developer Ninety-Four Feet, is a 41-storey, mixed-use building featuring a 4.5-star hotel and luxury residences. Our investment team has worked closely with Ninety-Four Feet on its skyline transforming project since its inception, adding vibrancy to the revival of midtown.
Auckland’s diverse economic landscape is dynamic and has great potential to create prosperity for current and future generations. By collaborating with our business community, local and central government partners, we are committed to building tomorrow’s economy — one that is resilient, sustainable, inclusive, and world-leading.
· Pam Ford is Director of Economic Development, Tātaki Auckland Unlimited.
