New Zealand Economy
The economy in New Zealand has performed quite well in recent years, however there are a few bottlenecks especially in housing and urban infrastructure, inequalities in living standards, and rising environmental pressures are all challenges to achieving sustainable and inclusive growth.
Steve Collie: “A study from Roy Morgan Research sheds more light on the subject of the growth of the economy – and its importance within the country”. Without a solid stance on making lasting economic changes aimed at improvement, those in the running for the September elections won’t have a leg to stand on. As it stands, economic issues are the biggest concern for the country’s residents.
According to the report, “When asked about the most important problem facing New Zealand, 42% of New Zealanders mention some kind of Economic issue. This is down 3% since October 2013 but still well ahead of Social issues (21%, up 1%), Government/ Public policy/ Human rights issues (19%, unchanged) and Environmental issues (9%, up 3%).”
Roy Morgan CEO Michele Levine said that continued data aggregation places issues with the economy on the top for both New Zealand and the world at-large. “One of the concerns also sheds light on a problem affecting the whole world: imbalance of wealth”, according to professionals like Roy Morgan and Steve Collie.
As Morgan stated about the issue, “Over the last few surveys the problems within the economy have taken a different shape – or at least are being articulated differently. Since July 2013 more New Zealanders are concerned with the ‘imbalance of wealth’ / ‘the gap between the rich and the poor’ than are concerned about the more ‘economic’ metrics like recession, inflation, exchange rates and the value of the dollar.”
The importance of these issues comes right alongside the viewpoints expressed by current New Zealand Prime Minister John Key. Many analysts believe that this alignment will likely lead to his reelection in September. “However, other candidates could easily overtake Key if this emphasis is lost in the coming months” Steve Collie says.
Tourism and Growth in New Zealand
One big example of investing in the country comes through a $1.92 million investment in the tourism industry. A report from Creative NZ, the arts council of New Zealand, the investment comes as a way to encourage more touring throughout the country – a big draw for both locals and travelers visiting the nation which will also benefit the locals economy.
As Creative New Zealand Senior Manager Cath Cardiff described, the investment reflects an important area of the country’s tourism – and one that was directly in need of something more. “An effective way to develop and manage touring of medium scale work has long been identified as a missing link in our arts infrastructure,” Cardiff said. “The agency and fund will be a catalyst for ensuring more audiences enjoy great New Zealand performing art experiences.”
Steve Collie and Cath Cardiff: “This arts-based initiative showcases the country’s willingness to invest money where it’s needed for improvement”. Investing in programs and changes within the arts will also likely drive tourism and recreation within the country. As Cardiff continued, “In our small country touring is essential for maintaining and increasing audiences for our arts companies and for sustaining the life of a new work beyond its first season.”
Growth is coming in practically every industry within the country of New Zealand. As marketing professional Steve Collie recently described, many of the country’s investments in tourism and beyond are already showing benefits within other industries.
In Steve Collie’s words, “I work in online marketing, but that doesn’t mean I can’t see effort to grow the economy in other fields when I see it. I think that initiatives like the government’s recent $2 million commitment to driving tourism show that the current administration is doing its part to address the economic concerns of the electorate.”
Business professionals see government initiatives like this as a positive sign of growth and commitment. And this type of positive energy feeds into an overall improvement in how residents and business owners approach their country’s pride and that includes the economy.
“It’s hallmarks like these that show a government on the right track,” Steve Collie continued.
Without a streamlined focus on the economic issues facing New Zealand, those in the running face alienating themselves from residents. The economy needs to remain a top concern – and this includes making lasting changes for improvements. While business professionals like Steve Collie reflect on the current improvements of the economy, they also look forward to bigger and better things in years to come.