The Taupō economy grew at a reasonably healthy rate of 2.5% in the year to March 2019, according to provisional estimates from Infometrics. Although the economy is still in good shape, the growth rate is coming off its highs experienced a few years ago at the peak of the tourist boom.
Tourism contributes nearly 20% of GDP in Taupō according to the Infometrics Regional Economic Profile. Slowing growth in Chinese tourism inflows to New Zealand is dampening the outlook for tourism across the country and the effect will flow on to Taupō.
Highlights for Taupo District
GDP (provisional) in Taupo District was up 2.5% for the year to March 2019 compared to a year earlier. Growth was the same as in New Zealand (2.5%) and lower than in Waikato Region (2.8%).
The annual average unemployment rate in Taupo District was 3.0% in March 2019, down from 3.5% a year earlier.
On an annual basis the number of consents in Taupo District decreased by 9.8% compared with the same 12-month period a year ago. The number of consents in New Zealand increased by 10.0% over the same period.
The value of consents increased by 69.4% over the year to March 2019. By comparison the value of consents in New Zealand increased by 7.6% over the same period.
Traffic flows in Taupo District increased by 2.6% over the year to March 2019. This compares with an increase of 0.6% in New Zealand.
Visitors stayed a total of 1,132,566 nights in Taupo District during the year to March 2019, which was down from 1,169,271 a year ago.
Total tourism expenditure in Taupo District increased by 6.3% in the year to March 2019. This compares with an increase of 3.3% in New Zealand.
Electronic card consumer spending in Taupo District, as measured by Marketview, increased by 3.5% over the year to March 2019 compared to the previous year. This compares with an increase of 4.1% in New Zealand.
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