Kāpiti economy continues to shine
The Kāpiti Coast economy continues to shine with GDP growth up 4.9% during the June year, 2.3% higher than the Wellington region and 2.1% higher than the national average over the same period.
Figures from the June 2017 Infometrics Quarterly Economic Monitor Report shows a 39% increase in commercial vehicle registrations during the year to June 2017 and the 181% increase in the value of non-residential building consents, a ten year high of $41 million.
Councillor James Cootes says it’s encouraging to see such positive results.
“The data suggests that business confidence is high as we have not seen this level of investment for a decade.
“This is against a backdrop of significant investment on infrastructure, growth in self-employment and retail spend,” said Councillor Cootes.
Data from Marketview shows that electronic card spending on retail purchases grew by 4% over the June year, compared to 3.6% growth nationally, while total guest nights increased by 8% over the same period compared to 3.7% nationally.
Visitors to the district stayed a total of 181,262 nights during the year to June 2017, compared to 167,805 a year ago.
“Kāpiti retailers and accommodation providers continue to benefit from events in the greater Wellington region and investment in infrastructure such as the Mackays to Peka Peka Expressway.
“The results help give confidence to people outside the district who are contemplating bringing their business to Kāpiti,” said Councillor Cootes.