Encompassing Western Bay of Plenty, Eastern Bay of Plenty, Rotorua and Taupō, the wider Bay of Plenty has strengths and challenges unique to each territory, yet the region as a whole continues to have one of the most resilient local economies in Aotearoa.
This has been helped in large part by the region’s robust primary industries sector, which regularly posts strong dairy payouts and firm horticulture prices.
Other sectors, including manufacturing and construction, freight, energy and tourism are also among the largest contributors to regional GDP.
Health care, community services and retail trade are the region’s biggest employers, with these sectors further contributing to the diversity and resilience of the regional economy.
With a lifestyle that is second to none and abundant employment opportunities, the Bay of Plenty is an attractive place for people to live and work. The region has seen significant population growth in recent years, driven by New Zealanders and international visitors choosing to make the Bay of Plenty home.
A number of initiatives are underway to increase housing stock levels and improve major transport networks, highlighting confidence in the region and its importance to ‘New Zealand Inc’.
Overall, the Bay of Plenty is a region primed to benefit during periods of economic upturn, while equally being able to weather periods of economic downturn.
The Infometrics quarterly economic monitor provides a focused insight into how the region’s economy has performed over the previous quarter, across a range of economic indicators and with commentary from Infometrics’ economists.