Economy News & Articles
Strong Q3 Economic Growth Boosts Confidence Ahead of Christmas, Says Finance Minister
1 week ago | 100 viewsFinance Minister Nicola Willis welcomed the strong 1.1% economic growth in the third quarter, driven by 14 of 16 sectors, signaling a positive turnaround after challenging years. Key job-rich sectors like manufacturing, construction, and business services showed significant growth, alongside increases in exports and investment, indicating promising future job prospects and higher incomes. With GDP per capita rising 0.9% and forecasts predicting accelerated growth and lower unemployment next year, the government’s strategy to strengthen the economy appears effective.
Tags: economy growth Nicola Willis Finance Minister Stats NZ Treasury Reserve Bank manufacturing sector construction business services GDP per capitaFast-Track Approvals Amendment Bill Passed to Boost Economy and Grocery Competition
2 weeks ago | 97 viewsThe Fast-track Approvals Amendment Bill has been passed to streamline and expedite the approval process for important projects, particularly benefiting supermarket competition and regional development. The amendments aim to reduce consent processing times by over six weeks, making it easier for new supermarkets to open and boosting economic growth. Ministers emphasize that these changes will promote affordability, regional prosperity, and faster project delivery by addressing previous inefficiencies and red tape.
Tags: Nicola Willis Chris Bishop Shane Jones economic growth supermarket competition resource consent grocery affordability regional development government policy statementNew Zealand Tourism Booms with 6% More Visitors and $12.3B Spend in 2025
3 weeks ago | 129 viewsInternational visitors to New Zealand are increasing in number and spending more, driving significant growth in the tourism sector and economy, with total spending reaching $12.3 billion for the year ending September 2025. Visitor numbers rose to 3.43 million, reaching 88% of pre-pandemic levels, boosted by higher-spending travelers, especially from the USA. The government supports this growth through the Tourism Growth Roadmap, aiming to double tourism export value by 2034 while enhancing visitor experiences and regional opportunities.
Tags: Louise Upston New Zealand Tourism International Visitors USA MBIE Tourism Growth Roadmap Hospitality Economy Visitor SurveyCutting Red Tape in New Zealand Yields $223M-$337M Economic Benefits
3 weeks ago | 170 viewsMinister for Regulation David Seymour highlights that cutting red tape in New Zealand has generated significant economic benefits, with a return of $11–$17 for every dollar spent, totaling an estimated net public benefit of $223 million to $337 million over 10 years. Examples include lifting bans on medical conferences and revoking unnecessary sector-specific regulations, which have already brought millions in benefits and promise ongoing savings across various industries. The government aims to continue reducing unnecessary regulations to boost productivity, economic growth, and public value through practical reforms and improved regulatory standards.
Tags: David Seymour Ministry for Regulation New Zealand red tape medical conferences Hairdressing and Barbering Sector Review economic benefits regulatory reform early childhood education MotuCostco's Expansion Plans Bring Economic Boost to New Zealand Shoppers
1 month ago | 211 viewsUS supermarket giant Costco is planning to open a second store in South Auckland, welcomed by Economic Growth Minister Nicola Willis. The Government is facilitating quick approvals for new supermarkets through legislation and working closely with Costco for efficient consenting processes. Kiwi Property has agreed to sell land for the new Costco store, expected to boost the economy, create jobs, and enhance competition for shoppers.
Tags: Nicola Willis Costco New Zealand South Auckland Kiwi shoppers Economic Growth Minister Kiwi Property Drury Auckland’s economy construction jobsNew Zealand Enhances Screen Production Rebate to Boost Global Competitiveness
1 month ago | 238 viewsThe Government of New Zealand is updating the International Screen Production Rebate to enhance the country's competitiveness in the global film and television industry, responding to industry feedback and increasing incentives to attract screen investment. Changes include lowering the minimum qualifying spend for feature films, reducing thresholds for incentives, expanding eligibility for post-production projects, and removing caps on certain costs. These updates aim to diversify the screen economy, strengthen partnerships in growing markets, and support the local industry while attracting new investment and technology.
Tags: Government International Screen Production Rebate New Zealand Nicola Willis film television streaming productions economic growth incentives global competitionNew Zealand's Gold Mining Boom: Economic Opportunities and Prosperity on the Horizon
1 month ago | 235 viewsNew Zealand's Resources Minister Shane Jones highlights the country's potential gains from the global interest in gold and minerals, emphasizing the economic opportunities presented by a significant gold discovery in Central Otago. The mining permit granted to Matakanui Gold Limited for the Rise and Shine prospect is expected to create jobs, boost local economies, and generate substantial revenues for the government through royalties and taxes. The government's commitment to utilizing mineral resources for regional development, job creation, and economic prosperity is underscored by the fast-track approval process for mining projects like Bendigo-Ophir and the financing of the Snowy River Gold Mine development by Endura Mining.
Tags: Shane Jones New Zealand gold minerals mining permit Matakanui Gold Limited Santana Minerals Central Otago Endura MiningNew Data Reveals Strong Growth in International Tourism Industry, Boosting Confidence and Economic Recovery
2 months ago | 252 viewsThe Government celebrates a 7.5% increase in international visitor arrivals in August, signaling a positive trend for the tourism industry's recovery post-COVID. Minister Louise Upston emphasizes the economic importance of tourism as New Zealand's second highest export earner. The Tourism Industry Association survey indicates an 86% confidence level among tourism organizations for the upcoming year, reflecting the industry's optimism and the Government's investments to promote New Zealand as a top destination.
Tags: Government data international visitor numbers tourism industry Louise Upston international tourism export earner economic recovery visitor arrivals Statistics New ZealandGlobal Uncertainty Impacts Economy: Minister Willis on Latest Stats NZ Data
3 months ago | 383 viewsFinance Minister Nicola Willis highlighted the impact of global uncertainty on consumers and businesses based on released economic data. Stats NZ reported a 0.9% decline in real Gross Domestic Product in the second quarter following an initial increase. Willis attributed this downturn to international turmoil and tariffs affecting investment decisions. Looking ahead, there are positive signs of economic recovery, with lower interest rates, increased mortgage lending, and a forecasted strengthening of economic growth as tariff-related uncertainty diminishes.
Tags: Economic data global uncertainty consumers businesses Finance Minister Nicola Willis Gross Domestic Product tariffs investment decisions interest ratesNew Zealand Government Unveils $70 Million Boost for Major Events and Tourism
3 months ago | 383 viewsThe Government has unveiled a $70 million investment package to boost major events and tourism projects in New Zealand, aiming to stimulate economic growth and confidence. Tourism and Hospitality Minister Louise Upston emphasizes the importance of major events in supporting local economies, creating jobs, and attracting visitors. The package includes funding for securing international events, supporting existing events, promoting regional tourism, and upgrading tourism infrastructure to enhance New Zealand's competitiveness as a tourism destination.
Tags: Government Louise Upston Tourism Events Investment Economy New Zealand International Funding InfrastructureInternational Visitor Arrivals and Spending on the Rise, Boosting New Zealand's Tourism Sector and Economy
3 months ago | 448 viewsFresh data released today indicates that international visitor arrivals and spending are on the rise, boosting New Zealand's tourism sector and economy, as highlighted by Tourism and Hospitality Minister Louise Upston. The year ending June 2025 saw international tourism contribute $12.1 billion to the economy, a 4.3% increase from the previous year, with a 5% rise in visitor arrivals totaling 3.38 million. Despite positive growth, Upston emphasizes the need for continued efforts to further enhance the tourism sector, referencing initiatives like the Tourism Growth Roadmap aimed at doubling tourism exports by 2034.
Tags: tourism economy international visitors Louise Upston spending tourism sector international tourism visitor arrivals New Zealand Tourism Growth RoadmapNorthland's Economic Future: Major Developments and Opportunities Unveiled
4 months ago | 975 viewsRail Minister Winston Peters and Regional Development Minister Shane Jones highlight significant developments in Northland's economic future, including Marsden Point's role as an energy and economic powerhouse. Projects such as a refurbished tank for supplying jet fuel to Auckland Airport and a commercial dry dock aim to boost job creation and international trade. Plans for a Regional Infrastructure Fund part-funded drydock at Northport and the potential use of special economic zones to attract investment demonstrate a focus on enhancing New Zealand's economic growth and resilience.
Tags: Northland Winston Peters Shane Jones Marsden Point New Zealand Channel Infrastructure Z Energy Auckland Airport KiwiRail SEZsBoosting Sustainable Tourism with $17.5M Investment in Natural Attractions
4 months ago | 771 viewsThe $17.5 million investment in sustainable tourism aims to boost regional economies by supporting jobs and incomes at popular natural attractions in New Zealand. The funding will improve visitor planning and management at key sites like Aoraki Mount Cook National Park and Milford Sound, ensuring the conservation areas continue to attract tourists with stunning nature. Additionally, investments in Great Walks and DOC campsites will enhance service and management, contributing to the country's economic growth driven by tourism expenditure of $44.4 billion and over 300,000 jobs.
Tags: Tama Potaka sustainable tourism Conservation Minister Aotearoa New Zealand tourism conservation areas Department of Conservation Great Walks tourism concessions economic growthPrime Minister and Finance Minister Unveil Plans to Boost Economy, Jobs, and Income for Kiwis
5 months ago | 788 viewsThe Government, led by Prime Minister Christopher Luxon and Minister of Finance Nicola Willis, is prioritizing economic growth to create jobs, raise incomes, and assist New Zealanders with the cost of living. Initiatives such as scrapping surcharges, tax relief, and the introduction of FamilyBoost aim to alleviate financial burdens for families. By focusing on key areas like talent development, competitive business settings, global trade, innovation, and infrastructure, the Government aims to boost wages by growing the economy in the long term.
Tags: Government economy jobs Kiwis Prime Minister Christopher Luxon Minister of Finance Nicola Willis tax relief FamilyBoost inflationNew Zealand Construction Industry Welcomes Expanded Range of Building Products for Cost Savings and Quality Boost
5 months ago | 882 viewsStarting tomorrow, New Zealand will see increased accessibility of various building products such as plasterboard, cladding systems, external doors, and windows, aiming to boost the construction industry and lower building costs. The government, led by Building and Construction Minister Chris Penk, is focused on driving economic growth, creating jobs, and improving wages through initiatives like allowing quality overseas building products into the market. These changes are part of a broader effort to introduce competition, reduce costly monopolies, and streamline the use of international building standards, with the Building Product Specifications document being a key resource for this transition.
Tags: Chris Penk New Zealand construction building products economic growth plasterboard cladding systems external doors windows Australia