Business and Economic Research Limited (BERL) has released its 2014 report, which shows positive growth in Dunedin’s economic and employment sectors in the year to March 2014. The report also shows encouraging results in the tourism and creative sectors.
Economically, Dunedin grew by 2.2 percent, a growth rate higher than any other year in the past decade. The report also showed 1221, or 2.4 percent, more full-time jobs than in 2013.
John Christie, Director of Enterprise Dunedin, said the results are a major improvement for the city, especially since Dunedin’s GDP has experienced minimal growth in the past 10 years.
Christie said the aim of Dunedin’s economic development strategy is to see a “steady growth in jobs”, with an overall aim of 10,000 new jobs in the next 10 years. The city also aims for an average of $10,000 extra income per person, equating to around 2.5 percent GDP growth per annum.
Christie says this goal is “achievable” but will require the combined efforts of local agencies including the Dunedin City Council, the Otago Southland Employers’ Association, Otago Polytechnic and the University of Otago.
Jobs in the tourism sector have seen a growth rate of 9.3 percent, and a GDP growth rate of 3.6 percent, in the past decade. The creative sector also saw an 8 percent growth rate and a 5.8 percent GDP growth rate.
Although most sectors displayed promising results, the primary production and primary processing sectors fell in 2014. Christie said the results reflect “a declining trend in these sectors over the past ten years”.
Christie said the overall results of the report “are a positive signal for those wanting to invest in Dunedin, particularly in the creative sector”. He said that with many start-up and support programmes available to help entrepreneurs, this sector will continue to grow successfully.
“These results display what we hear and see happening in the city anecdotally,” said Christie.