The Auckland Economic Monitor 2024, released today by Tātaki Auckland Unlimited, reveals a robust economic rebound for Auckland following pandemic-related disruptions.

The report, marking a continuation of the Auckland Growth Monitor from previous years, provides a comprehensive overview of Auckland’s economic performance over the past five years.

According to the report, Auckland’s economy grew by 10 per cent from 2019 to 2023, aligning with the national average despite enduring more frequent and prolonged lockdowns compared to other regions in New Zealand.

In 2023, the average income for Aucklanders was NZ$81,400, surpassing the national average by 14.8 per cent.

This increase in earnings has kept pace with inflation, reflecting the region’s economic resilience.

The report also highlights Auckland's economic output, which reached NZ$143 billion in GDP in 2023, surpassing growth rates seen in other parts of the country.

Despite these positive indicators, recent data suggests a slowdown in economic activity and reduced confidence among businesses and consumers.

Pam Ford, Economic Development Director at Tātaki Auckland Unlimited, described the report as a crucial resource for understanding Auckland’s economic landscape during and after the COVID-19 pandemic.

“This report brings together five years of essential data into one document, stimulating debate and fostering investment in Auckland’s future,” she said.

John Lavery, Head of Economic Transformation, acknowledged the challenges ahead but highlighted Auckland’s resilience.

“Our diverse economy and skilled workforce have positioned Auckland to weather economic shocks effectively,” Lavery noted.

The upcoming release of “The State of the City” study will further benchmark Auckland’s performance against other global cities.