Regional Differences for your Place
Have you ever wondered how your region stacks up against other parts of New Zealand? Do you live in a wealthy part or are you in the land of opportunity with fewer competitors and low rents?
I have recently moved to the Hawkes Bay for family reasons (and the weather!) and was curious to learn more about my new home and found a great resource on the MBIE site and now know there are 66 mushroom growers in the Hawkes Bay. However, our average GDP per person is only $41,000 per year compared to the national average of $53,000.
The report for the Hawkes Bay compared our region to Otago, Taranaki, Northland and the whole of NZ. Taranaki surprised me with its very high average GDP per capita of $76,000 and low rents and housing prices – probably as a result of the oil and gas industry based there. Still, a good option if you’re looking for a new place to do business.
You can also definitely see the issues and opportunities for Northland with its low average GDP per capita ($35,000) and high (ish) unemployment. Let’s hope that Northland can un-lock its potential over the next few years. You’d imagine that its proximity to our largest centre might be a source of future wealth, if it can come to grips with its weak infrastructure and social issues.
Anyhow, I’m happy to be enjoying the sunshine of the Hawkes Bay and I look forward to getting to know more about business in this region.