Auckland's economy set to recover by 2011

Economy set to recover: New Zealand (and with it Auckland) better placed than many countries to pull itself out of the recession.

From City Scene, published on 23 August, 2009.

The council's recently released business and economy report forecasts that Auckland's economy is set to recover, but not until the year ending March 2011. It predicts that stronger household spending, construction activity and exports will be the key factors to turn the situation around.

"With Auckland city having 10 per cent of the country's population and 16 per cent of the country's total employment, we play a vital role in leading New Zealand's recovery," says Councillor Aaron Bhatnagar, chairperson of the City Development Committee.

"The council is spending nearly half a billion dollars on capital projects throughout the city which will benefit the economy directly and indirectly. In addition, we want to build on the success of events such as the Louis Vuitton Pacific Series, which injected at least $16 million into Auckland's economy. With RWC 2011 in particular on the horizon, we're making sure we leverage the economic development opportunities of these events to help create jobs and growth for Aucklanders.

"These are just some of the many ways that we're stimulating the economy of the city - and, with it, the country - to provide a better environment for long-term economic growth," says Mr Bhatnagar.

To view the report visit: Auckland city business and economy report 2009.