Kāpiti economy “mover and shaker” in Wellington region but challenges maintaining momentum ahead
With growth above national and regional averages, the Kāpiti Coast economy is a mover and shaker, but maintaining that growth will be a challenge, says Brad Olsen, Principal Economist at Infometrics, ahead of his Economic Health Check presentation to Kāpiti businesses next week.
“At the moment our view is that Kāpiti has a strong economy that is getting stronger despite the disruption caused by Omicron. Spending is up, although with inflation high, it’s not as much as it could be,” says Mr Olsen.
“Kāpiti is a mover and shaker driven by the changing ways in which people can work and the opening of Transmission Gully which unlocks a lot of potential for the district. We can see from the high level of consent numbers coming through that more people are considering Kāpiti an option to live and do business.
“The major challenge ahead is maintaining that growth profile, especially as the world opens up and we start to see more of a brain drain as people look further afield. Kāpiti businesses might find it difficult to find workers to get stuff done – there might not be enough people.”
Mr Olsen stresses the importance of the younger cohort of workers and having the right pathways into education and trades to futureproof local economies.
“The questions are now how bad could the talent loss be if people start to look overseas and what do Kāpiti businesses need to focus on as they plan for the future?”
Join Mr Olsen and other business leaders at the Southward Car Museum on Tuesday 24 May from 4.30pm for more insights on the economy and future indicators, as well as what this year’s Budget could mean for your business, our district, and the Wellington regional economy.
The event is free to attend but seats are limited so register now at Eventbrite.
This event is proudly supported by the Kāpiti Coast District Council. Learn more about our work supporting economic development in Kāpiti at Supporting economic development.