1、AUCKLAND ECONOMIC MONITORJULY 2024Contents1.2.3.Tmaki Makaurau Auckland Auckland at a glance Key metrics Auckland Economic MonitorAucklands economy:Whats changed?Economic activity Businesses The labour market Economic confidence Visitor economy Community&culture EmissionsDeep dives Cost of living In

2、vestment and trade Industrial employment areas2 I I ForewordTmaki Makaurau Auckland is New Zealands leading economic region,home to one-third of the nations population and contributing 38%of gross domestic product.It serves as the primary commercial centre,offering high value financial and professio

3、nal services,while also being the largest manufacturing hub.As the main international gateway,Auckland plays a key role in international tourism and in the importing,warehousing and distribution of goods.Bringing together Aucklands economic data builds up a fuller picture and allows for progress to

4、be tracked over time.This is also an opportunity to consider what has happened in the years since the predecessor to this Auckland Economic Monitor was published in 2018.The COVID-19 pandemic looms large in the data.Auckland was relatively exposed to disrupted international connections and extended

5、lockdowns.Households and businesses have been through a challenging economic cycle:low interest rates that fuelled activity and a building boom,followed by inflation and high interest rates that have increased living costs,reduced consumer spending and squeezed many businesses.The uptake of remote w

6、orking technology and online retail have accelerated,offering flexibility and efficiency but also bringing adjustment costs.Despite initial losses due to border restrictions,Aucklands population has grown,underscoring its relative attractiveness.At its core,the economy is people all of whom need som