2 May 2012
Tauranga Economy Highly Ranked

Tauranga was the top performing city in economic development in New Zealand in 2011, according to a report from Business and Economic Research Ltd (BERL).

The BERL economic indicator ranking report provides central Government, local government and private businesses with a high-level overview on economic performance at a sub-national level. The analysis compares economic performance of New Zealand's 66 local authorities, 14 regions and 20 cities.

Chamber CEO Max Mason said, “This is a solid endorsement of the quality and resilience of Tauranga and wider Bay of Plenty businesses. In a tough economic environment they have shown flexibility and made the changes necessary to restore business growth and profitability.”

He continued, “Our performance is across a number of indicators such as GDP growth, employment growth, and business units growth. This would indicate sustained economic recovery.”

Tauranga is the only city in the top ten and it has achieved this with a stellar i mprovement from its 33rd rank in 2010.

While population growth has eased, with Tauranga City only the 25th fastest in 2011, the city’s economy was humming. Tauranga City ranked 3rd in both employment and GDP growth, and 6th in business units growth. Tauranga City’s rapid population growth is reflected in its medium term ranking, where it has had the 6th fastest growing population over the last five years. As well it has had the 14th fastest employment growth and the 17th fastest GDP growth.

Mr Mason commented that regionally and sub-regionally the Bay of Plenty economic performance was very positive and would be a huge confidence boost to the business community.

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