Bay of Plenty TimesTopic:
From Mayor Steve Chadwick:
"There's been a substantial amount of business investment in Rotorua during the past few years with new businesses coming in and existing businesses reinvesting and extending their offerings. Meanwhile, CBD vacancy levels have been decreasing and that's despite new retail developments outside of the inner city. All of that points to confidence in our local economy which is translating into more jobs and contributing to the general growth we're seeing, including population growth.
"Council is supporting economic growth through investment in infrastructure, improving key facilities like the lakefront that will in turn drive future private investment and progressing towards re-opening Rotorua Museum while in tourism the focus is on encouraging longer stays and bigger spends.
"The most recent Infometrics results [for the year to September 2018], and our June 2018 local APR business confidence survey also pointed to ongoing strength in the local economy and expectations of improving business conditions. Median house prices are up and the housing market isn't expected to slow in 2019 according to the latest from MRIENZ.
"So this latest [Westpac] survey reinforces what we've been seeing and what we're hearing from the business community, which is very heartening."
Most recent Infometric results (year to September 2018)
- 4.2% GDP growth (3.5% across BOP, 2.9% NZ)
- Tourism spend $827m, up 6.1% on previous year
- 5.3% increase in guest nights (2.7% NZ)
- Electronic card retail spending up 5% (4.8% NZ)
Full Infometrics report is HERE