Wednesday, 7th July, 2021
The NZ economy has performed well throughout the COVID-19 pandemic, particularly compared to most of its international peers. But the economic bounce back has not been evenly shared across NZ, as highlighted by Nat Keall in our most recent Regional Scoreboard, released today. The North-South divide has widened further over Q1 2021, as the South Island appears to have taken the brunt of the impact of international border closures. Tourism hubs like Queenstown continue to face significant challenges, with employment numbers down 5.2% from the beginning of last year. In fact, in Q1 this year Otago was below the national average on every other metric we measure, posting a huge 27% fall in construction. Rural regions generally outperformed the major urban centres on the Scoreboard, with the resilience of the country’s primary sector helping support the broader New Zealand economy through the pandemic.