• New Zealand Regions
      • Hawke's Bay
      • Bay of Plenty
      • Waikato
      • Whanganui
      • Manawatu
      • Northland
      • Auckland
      • Gisborne
      • Taranaki
      • Wellington
      • West Coast
      • Nelson
      • Canterbury
      • Otago
      • Marlborough
      • Southland
      image/svg+xml

      Hawke's Bay

      View Homepage

      Beaches, wineries and Art Deco. The Hawke's Bay has a diverse economy, including business services that support its sectors to be the second largest contributor to regional GDP in the country. A popular tourist destination, the region has some of the countries best restaurants as well as stunning scenery, markets and festivals.

      Districts

      HastingsNapier

      Bay of Plenty

      View Homepage

      The Bay of Plenty is officially New Zealand's sunniest destination, enjoying short-lived winters and long summer days. The Region offers some of the country's most spectacular views and many ways to enjoy the pristine scenery and natural wonders. Visitors also enjoy exploring the Bay's Māori heritage and pre-European roots.

      Districts

      OpotikiOpotiki iSiteKawerauWhakatane

      Waikato

      View Homepage

      The Waikato is known for its rolling plains, fertile land and the mighty Waikato River. The region is the fourth largest regional economy in New Zealand, with a strong focus on primary production and associated manufacturing.

      Districts

      South WaikatoWaikato District

      Whanganui

      View Homepage

      Welcome to Whanganui. This is our place; where history is full of stories, legends and rich legacy. Where a thriving arts scene, creativity and evolving culture inspire our modern lives. Where breath-taking natural landscapes capture imaginations at every turn.

      Manawatu

      View Homepage

      Located in the lower North Island, Manawatu is heartland New Zealand, offering an authentic Kiwi experience.

      The main in the region are Palmerston North, most notable for Massey University. Palmerston has a vibrant, arts and culture scene.

      The region's economy is based on food production and processing, research and education. The region is also home for the New Zealand defence force.

      Northland

      View Homepage

      Northland was originally home to some of our country's first human inhabitants. Today, it is one of the fastest growing regions in New Zealand and home to nearly 189,000 people. Rich in culture and history, the region boasts a stunning natural environment.

      Auckland

      View Homepage

      Auckland Region stretches from the the beaches of the Pacific Ocean in the east to the expansive beaches of the rugged west coast of the Tasman Sea. Auckland City, the largest urban area in New Zealand is considered the main economic center of New Zealand and a popular destination for international students and travellers.

      Gisborne

      View Homepage

      Gisborne is a Region on the east coast of New Zealand's North Island. It's known for wineries and surf beaches such as Makorori. The region has maintained a strong Maori heritage. The region's economy is made up mainly of agriculture, horticulture and forestry.

      Taranaki

      View Homepage

      Taranaki is a coastal and mountainous region on the western side of New Zealand's North Island. Its landscape is dominated by Mount Taranaki, its namesake volcano, which lies within the rainforested Egmont National Park.

      The port city of New Plymouth is the area's cultural and commercial hub. Taranaki's economy is diverse and includes dairy, oil and gas. The region is the highest contributor or national GDP per capita. 

      Wellington

      View Homepage

      The Wellington Region covers Wellington city in the south, Upper and Lower Hutt valleys to the north-east, and Porirua to the north-west. The region takes its name from Wellington, New Zealand's capital city.

      Wellington is famous for its arts and culture scene and is also the centre of New Zealand's film industry.

      West Coast

      View Homepage

      The West Coast, or as some locals call it, the "Wild West", is a long thin region that runs down the South Island's west coast.

      The region has the lowest population in all of New Zealand. It is famous for its rugged natural scenery such as the Pancake Rocks, the Blue Pools of Haast, and the glaciers.

      The main industries in the region are dairy farming and mining. Tourism also plays an important role.

      Nelson – Tasman

      View Homepage

      Nelson Tasman is an extraordinary, vibrant region where art and businesses thrive together among a stunning natural landscape. With one in five people internationally born, Nelson Tasman has 48 different cultures living in its environs.

      The region prides its self on being New Zealand’s leading Research and Development areas, with the highest proportion of people working in the research, science and tech sectors out of anywhere in New Zealand.

      Canterbury

      View Homepage

      Canterbury is a region on New Zealand’s South Island marked by grassy plains, clear lakes and snow-capped mountains. Its largest city, Christchurch, is famed for its art scene and green spaces.

      Otago

      View Homepage

      There are few places in the world which will leave you with a lasting sense of difference. Central Otago is undoubtedly one of them from its landscapes, its seasons, its people, its products and experiences.

      Marlborough

      View Homepage

      Marlborough Region is on the north-eastern corner of the South Island. The region is well known for its winemaking industry, and the Marlborough Sounds, an extensive network of coastal waterways, peninsulas and islands.

      Apart from the wine industry, aquaculture, agriculture and tourism play an important role in the local economy.

      Southland

      View Homepage

      Southland is New Zealand’s most southerly region and includes the World Heritage ranked Fiordland National Park.

      The region's only city Invercargill offers a relaxed pace of life with wide streets, little traffic, spacious parks and gardens, striking Victorian and Edwardian architecture and impressive sporting facilities including New Zealand’s first indoor velodrome. Southland's location is such that views of Aurora Australis or the Southern Lights are common.

      Tooltip

Economic history

When Europeans started arriving in New Zealand, they encountered the native Maori people. Maori tribes made a living from agriculture, fishing, and hunting. Trade was conducted through a barter system, and there was no concept of currency or property rights for land.
Many of the first Europen settlers were involved in activities such as sealing, whaling and forestry, and they traded with the Maori for food and other services.
In 1840 the British Crown and several Iwi (Maori tribes) Maori signed the Treaty of Waitangi. It was around this time that the first wave of European settlers arrived in New Zealand.
Misinterpretation around the meaning of land ownership meant Maori sold their land within realising they were doing so. Tensions led to conflict which saw a series of land confiscations by the Crown.
Throughout the 1860s the Europen settler population grew, and Maori declined due to the import of European diseases, alcohol and weapons. The Maori population did not begin to recover until the twentieth century.
Also during the 1860s, gold was discovered in Thames and Otago, leading to a gold-rush. Around this time, sheep farming began in New Zealand. Demand for wool in the United Kingdom provided a significant boost to the New Zealand economy.
Economic relations between New Zealand and Britain continued to expand. With the introduction of refrigeration, New Zealand was able to supply foodstuffs to the United Kingdom. By 1914 New Zealand was one of the wealthiest if unequal countries in the world.

 

War
World War One disrupted agricultural production in Europe and increased demand for New Zealand products. Agriculture land rapidly increased in value, and an economic bubble developed, finally collapsing during the global economic downturn in 1929. Many industries relating to agriculture were affected, and New Zealand slipped into an economic depression.
The 1931 Napier Earthquake created a boost to the regional economy with investment into the reconstruction of the city. By 1932 the New Zealand government devalued the currency to make New Zealand products less expensive to European importers. Also in 1932, Britain and New Zealand signed the Ottawa Agreements on imperial trade which strengthened New Zealand’s position in the British market at the expense of non-empire competitors.
In 1935 the newly elected Labour Government nationalised the central bank (the Reserve Bank of New Zealand). The new government also created policies to support agricultural marketing, money lending and launched a state housing scheme.

 

Post War
New Zealand’s economy continued to struggle following the end of World War 2. By the 1960s the United Kingdom began moving away from its Commonwealth partners, including New Zealand and joined the Europen Economic Community.
The New Zealand government realised it needed to diversify its export markets and began negotiations with Austria. In 1965 the New Zealand – Australia Free Trade Agreement (NAFTA) was signed. The FTA was further upgraded in 1983 with the Closer Economic Relations (CER) agreement.
Between 1973 and 1984, New Zealand was overwhelmed by a series of inter-related economic crises and government mismanagement which created rising inflation and increasing unemployment.

 

Reform
Discontentment with the government saw a Labour government elected in 1984. Within weeks of taking office, the government undertook sweeping reforms to deregulate the economy.
The government removed controls on interest rates, opened up the financial markets and in 1985 floated the New Zealand dollar. To support trading, the government privatised trading organisations, reduced tariffs and removed import licensing.
The removal of credit controls led to increased private sector borrowing. Asset prices grew sharply, and the New Zealand economy expanded. Banks wanting greater profits lowered their thresholds for lending. In 1987 the sharemarket crash caused numerous defaults on repayments, and the banks scrambled to curb lending, including increasing interest rates and raising the threshold for lending.
From 1984 the New Zealand dollar appreciated, making New Zealand exports less competitive. The agriculture sector bore the brunt of these changes, with many farmers selling their farms and moving to the cities. Cheaper imports hurt New Zealand manufacturing. A global economic recession further hurt New Zealand.

 

Open Economy
Annual inflation was reduced to low single digits by the early nineties. Economic recovery began towards the end of 1991. With a brief interlude in 1998, strong growth persisted and by 2006 had become one of the longest and strongest growth periods the country had seen.
Famers began diversifying into cash crops such as grapes for wine. Manufacturing focused on increasing efficiency and exporting. There was a gradual shift towards a service economy, and tourism boomed as the relative cost of international travel fell.
While the 2008 Global Financial Crisis pushed New Zealand briefly into recession, the effects were minor compared to many other economies. Strong demand from China and Australia for New Zealand products kept the economy growing.

Related Content