TRENDS TARANAKI FACTS AND FIGURES SUMMER 2019/2020
WELCOME Welcome to the latest edition of Taranaki Trends – Venture Taranaki’s 6-monthly economic publication – which showcases our regional economy in large simplified charts and graphs to enable you to view progress against key economic indicators at a glance. There has been, and will continue to be, changes that impact our national and regional economies. It is therefore crucial to monitor the economy including emerging trends and levers of change on a regular basis to help assess whether strategies are on track, responsive and anticipatory of risks or opportunities. Key to this edition is the first release of data from the 2018 census which has revealed that Taranaki’s population has risen to 117,561 – an increase of 7.3% since the census in 2013. As further information comes to hand, we will ensure it is included in upcoming regional intelligence publications and releases accordingly.
Our NEET rate (Not in Employment or Training) for 15–24 yrs is higher than the NZ average: Taranaki: 16.1 relative to NZ at 11.9.
Unemployment rate: 4.1% (annual to June 2019) – down from 5.4% from previous 12 months.
Taranaki’s population = 117,561
(up 7.3% from 2013) Retail spend in Taranaki for the 12 months ending June 2019: $1,336,115,488 – up 4.9% from previous 12 months.
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$329.5m approved in building consents for YE June 2019 – up 2.6% from previous 12 months.
TARANAKI ECONOMIC DASHBOARD Indicator
Period
Taranaki
New Plymouth District
Stratford District
South Taranaki District
New Zealand
Source
2018
$7,712m
$5,349m
$414m
$1,948m
$242,201m
Infometrics
2017–2018
2.70%
3.50%
0.70%
1.20%
3.20%
Infometrics
2018
117,561
80,679
9,474
27,534
4,699,755
Census 2018
Population % Change
2013–2018
7.30%
8.80%
5.40%
3.60%
10.80%
Census 2018
Number of Businesses
2018
15,264
9,639
1,500
4,176
569,907
Stats NZ
2017–2018
-0.50%
0.80%
-0.60%
-3.20%
0.70%
Stats NZ
Building consents – 12 months to 2019
2019
$329.5m
$263m
$16m
$50m
$22,442m
Stats NZ
Building consents – % change from previous 12 months
2019
2.6%
11.3%
-39.1%
-13%
6.4%
Stats NZ
House valuations
2019
$463,474
$283,969
$243,401
$687,021
QV
% change in house valuations
2019
2.90%
6.30%
9.40%
2%
QV
Employment – Filled jobs in Taranaki
2018
58,134
40,748
3,434
13,952
2,494,515
Infometrics
Labour Force – Participation Rate – Annual to June 2019
2019
73.8
70.5 Stats NZ – HLFS
Labour Force – Employment rate – Annual to June 2019
2019
70.2
67.6 Stats NZ – HLFS
Labour Force – Unemployment Rate – Annual to June 2019
2019
4.9
4.1 Stats NZ – HLFS
NEET (Not in Education or Training) – 15–24yrs – Annual to June
2019
16.1
11.9 Stats NZ – HLFS
Retail sales 12 months YE June
2019
$1,336m
$996.8m
$106.4m
$215.6m
$59,736m
Marketview
% Change in retail spend from previous 12 months
2019
4.90%
4.60%
2.90%
8.00%
4.00%
Marketview
Vistor/Tourism Guest Nights in Commercial Accomodation (YE June)
2019
668,880
531,151
43,239
94,491
40,408,352
Stats NZ
Tourism/Visitor Guest Nights – % change annual to June
2019
0.10%
0.60%
4.10%
-4.10%
1.30%
Stats NZ
Visitor spend – 12 months to July
2019
$417m
$338m
$21m
$58m
$29,617m
MBIE
GDP GDP % change Population
Business Number % change from previous 12 months
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The 2018 census data The 2018 census data The 2018 census data The 2018 census is progressively being is progressively being is progressively being is progressively b released, commencing released, commencing released, commencing released, comme with the population with the population with the population with the populati The results showed counts. counts. counts. counts. Taranaki’s population had increased 7.3% (since the lastThe results showe The results showed The results showed The results showed 117,561 census)Taranaki’s population and is now Taranaki’s population Taranaki’s population Taranaki’s popula 117,561. had increased 7.3% had increased 7.3% had increased 7.3% had increased 7.3 (since the last census) (since the last census) (since the last census) (since the last cen and is now 117,561. and is now 117,561. and is now 117,561. and is now 117,56 being The 2018 census data is progressively released,All of Taranaki commencing with the population All of Taranaki All of Taranaki All of Taranaki counts. Districts recorded Districts recorded Districts recorded Districts recorde The results showed Taranaki’s population had growth in population. growth in population. growth in population. growth in popula increased 7.3% (since the last census) and is now 117,561. New Plymouth District New Plymouth District New Plymouth District New Plymouth Di All of Taranaki Districts recorded growth in being up 8.8%; being up 8.8%; being up 8.8%; being up 8.8%; population. New Plymouth District being up Stratford – up 5.4% Stratford – up 5.4% Stratford – up 5.4% Stratford – up 5.4 2018 Stratford 8.8%; up 5.4% and South Taranaki reflecting growth of and South Taranaki 3.6%. and South Taranaki and South Taranaki and South Tarana reflecting growth of reflecting growth of reflecting growth of reflecting growth 3.6%. 3.6%. 3.6%. 3.6%.
anaki Taranaki Taranaki Taranaki Population: Population: Population: Population: 117,561 117,561 117,561 117,561 TARANAKI POPULATION: 117,561
2018 ntial 2018 residential count residential 2018 residential count count countCOUNT 2018 RESIDENTIAL
Taranaki usual residential population count Census 2006–2018 Taranaki usual residential population count Census 2006–2018 Taranaki usual residential population count Census 2006–2018 Taranaki usual residential population count Census 2006–2018
0,000 120,000 120,000 117,561
117,561 117,561
2018
2018 2018
5,000 115,000 115,000
109,608
0,000 110,000 110,000
104,127 5,000 105,000 105,000
109,608 109,608 109,608
104,127 104,127 104,127
0,000 100,000 100,000
5,000 95,000
95,000 2006
2006 2006
2006
2013
2013 2013
2013
Source: Census 2018 Source: Census 2018 Source: Census 2018 Source: Census 2018 Source: Census
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TARANAKI POPULATION 2013–2018: UP 7.3%
Taranaki Population 2013 - 2018: up 7.3% Census 2018 – by NZ region % Change in usual residential count from 2013
20.0 20.0
18.1 15.2
15.0 15.0
13.5 11.0 8.9
10.0 10.0
11.2
11.1
10.0
9.6 7.3
7.2
11.2
10.8
9.0
7.5 4.4
5.0 5.0
Re gio
n
0.0 0.0
la n
d
-1.8
No rth
-5.0 -5.0
Source: Census 2018 Source: Census 2018
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TARANAKI POPULATION BY DISTRICT: 2018
Taranaki Taranaki Population Population byby District: District: 2018 2018 Population by Taranaki District Population by Taranaki District census 2018 Census 2018 90,000 90,000
80,679 80,679
80,000 80,000 70,000 70,000 60,000 60,000 50,000 50,000
2018 % census change since 2013 census 2018 % census change since 2013 census 12
12
10
10
8
8
6
6
4
4
2
2
10.8
8.8
10.8
8.8 7.3 5.4
7.3
5.4
40,000 40,000 27,534 27,534
30,000 30,000 20,000 20,000 10,000 10,000 0
9,474
9,474
0 New Plymouth District New Plymouth District Stratford District Stratford District South Taranaki District South Taranaki District
0
3.6
3.6
0 New Plymouth Stratford District South Taranaki Taranaki Taranaki New Zealand New Plymouth Stratford District South Taranaki New Zealand District District District District
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Regional GDP measures vary. The following analysis has been undertaken by Infometrics who have assessed Taranaki’s 2018 regional GDP as being $7.7 Billion. Their data below details its current composition as well as showcasing economic activity trends.
TARANAKI REGIONAL GDP: CIRCA $8B PA Taranaki Region
Taranaki Regional GDP by sector: 2018 'Top 10 sectors'
New Zealand
15%
All others 19%
Annual % change
10%
Professional, Scientific and Technical Services 4%
5%
Health Care and Social Assistance 4% 0%
Rental/Hire 4% Owner-Occupied Property Operation Construction 5% 4% Unallocated 8%
-5%
Agriculture, Forestry and Fishing 15% Manufacturing 11% Electricity, Gas, Water and Waste Services 7%
2018
2017
2016
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
-10%
Mining/oil and gas exploration 19%
Regional GDP measures vary. The following analysis has been undertaken by Infometrics who have assessed Taranaki’s 2018 regional GDP as being $7.7 Billion. Their data above details its current composition as well as showcasing economic activity trends.
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Taranaki GDP: How regional GDP has changed Taranaki’s Regional GDP is 36% higher now than it was in the year 2000 ($5.6B to now $7.7B). This growth can be seen below across all key industry sectors (particularly the oil and gas/mining sector), with the exception of agriculture (reflecting changes such as farm consolidation, technology and other factors.
TARANAKI GDP: HOW REGIONAL GDP HAS CHANGED Taranaki GDP – $m Year 2000 v Year 2018 Year 2000
Year 2018
1,600.00 1,400.00 1,200.00 1,000.00 800.00 600.00 400.00 200.00
Te l
ec om
m
un
ica tio
ns
0.00
Taranaki’s Regional GDP is 36% higher now than it was in the year 2000 ($5.6B to now $7.7B). Growth has occurred across all key industry sectors (particularly the oil and gas/mining sector), with the exception of agriculture (reflecting changes such as farm consolidation, technology and other factors).
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Taranaki GDP: Difference from NZ GDP
Taranaki’s strength in industries such as oil/gas energy, agriculture/farming and manufacturing is TARANAKI GDP: DIFFERENCE FROM NEW ZEALAND GDP reflected in the chart below, which compares regional composition with New Zealand GDP. GDP composition – 2018 Taranaki
New Zealand
20.0% 18.0% 16.0% 14.0% 12.0% 10.0% 8.0% 6.0% 4.0% 2.0% 0.0%
Taranaki’s strength in industries such as oil/gas energy, agriculture/farming and manufacturing is reflected in the chart above, which compares regional composition with New Zealand GDP.
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Number of Taranaki Businesss:15,264
NUMBER OF TARANAKI BUSINESSS:15,264
The number of businesses in Taranaki in 2018 is 20% higher than it was in the year 2000 Business numbers – Taranaki 2000–2018 18,000 15,264
16,000 14,000
12,759
12,000 10,000 8,000 6,000 4,000 2,000 0
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
The number of businesses in Taranaki in 2018 is 20% higher than it was in the year 2000.
2011
2012
2013
2014
2015
2016
2017
2018
Statistics NZ: 2018; GST registered businesses, $40,000+
Statistics NZ: 2018; GST registered businesses, $40,000+
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Taranaki Businesses: Businesses: analysis by District Taranaki by District TARANAKI BUSINESSES: ANALYSIS BY DISTRICT 1.0 1.0 0.5 0.5 0.0
0.0 -0.5 -0.5 -1.0 -1.0 -1.5
Number of businesses by district Number of businesses by district
% Change in number of businesses % Change in number of businesses 2017–2018 2017–2018 0.8 0.8
0.7 0.7
New Zealand
New Zealand
New Plymouth District New Plymouth District
Taranaki
Taranaki -0.5 -0.5
New Plymouth District New Plymouth District
Stratford District
Stratford District -0.6
South Taranaki District South Taranaki District
Stratford District, 1,500, 10% Stratford District, 1,500, 10%
-2.0 -2.5
South Taranaki District South Taranaki District
South Taranaki District, 4,176, 27% South Taranaki District, South Taranaki 4,176, 27% District, 4,176, 27%
-0.6
-1.5 -2.0
Stratford District Stratford District
New Plymouth District, 9,639, 63% New Plymouth District, 9,639, 63%
-2.5 -3.0 -3.0 -3.5
-3.2
-3.5
-3.2
Statistics NZ: 2018; GST registered businesses, $40,000+ *Total District numbers does not equate exactly to regional total due to Statistics NZ: 2018; GST registered businesses, $40,000+ geographical variances and rounding. *Total District numbers does not equate exactly to regional total due to geographical variances and rounding.
*Total District numbers does not equate exactly to regional total due to geographical variances and rounding. Source: Statistics NZ: 2018; GST registered businesses, $40,000+
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Employment: 58,134 Employment: 58,134 There are an estimated 58,134 filled jobs in Taranaki (2018). This assessment is inclusive of
TARANAKI EMPLOYMENT: 58,134 both employees and those who are self-employed. There are an estimated 58,134 filled jobs in Taranaki (2018). This assessment is inclusive of both employees and those who are self-employed. Taranaki jobs analysis by ANZSIC 1 level Taranaki jobs analysis by ANZSIC 1 level
10,000 9,000 8,000 10,000 7,000 9,000 6,000 8,000 5,000 7,000 4,000 6,000 3,000 5,000 2,000 4,000 1,000 3,000 0 2,000
Employment by Taranaki District Employment by Taranaki District
South Taranaki District, 13,952, South 24% Taranaki District, 13,952, Stratford District, 24% 3,434, 6%
Stratford District, 3,434, 6%
1,000
New Plymouth District, 40,748, New 70% Plymouth
0
There are an estimated 58,134 filled jobs in Taranaki (2018). This assessment is inclusive of both employees and those who are self-employed.
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District, 40,748, 70%
Employment – what’s changed since 2000? Relative to the year 2000, employment has increased 22% and Taranaki has more EMPLOYMENT – WHAT’S CHANGED SINCE 2000? people employed across virtually all key industries, with the exception of agriculture. Taranaki employment Year 2000 v Year 2018 Year 2000
Year 2018
Te l
ec om
m un
ica tio n
s
10,000 9,000 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0
Relative to the year 2000, employment has increased 22% and Taranaki has more people employed across virtually all key industries, with the exception of agriculture.
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Employment – composition compared with EMPLOYMENT – COMPOSITION COMPARED WITH NZ NZ Employment composition % Taranaki v New Zealand Taranaki
New Zealand
Taranaki’s has proportionately a higher percentage of people employed in sectors such as manufacturing, farming and oil/gas/mining/ energy – showcasing the region’s industrial strengths and specialisation.
16.00% 14.00% 12.00% 10.00% 8.00% 6.00% 4.00% 2.00%
Te l
ec om
m
un
ica
tio
ns
0.00%
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Taranaki’s has proportionately a higher percentage of people employed in sectors such as manufacturing, farming and oil/gas/mining/energy – showcasing the region’s industrial strengths and specialisation.
Labour Market
The following information has been sourced from the Household Labour Force Survey undertaken b
LABOUR MARKET
Unemployment Rate Taranaki v New Zealand Annual to June New Zealand
Taranaki
7
72
6
70
The unemployment rate is the number of unemployed people expressed as a percentage of the labour force.
Unemployment rate – seasonally unadjusted (annual to June 2019): New Zealand: 4.1% Taranaki: 4.9%
2014
2019
2018
2017
2016
58
2015
0
2014
60 2013
1 2012
62
2011
2
2010
64
2009
3
2013
66
2012
4
68
2011
4.9 4.1
2010
5
2009
Taranaki
Employment ra Taranaki v New Annual to J
The unemployment rate is th people expressed as a perce Force Survey undertaken by Statistics NZ. Source: Household Labour The Employment Rate is the expressed as a percentage o TA R A NA K I TR END S SUMMER 2 0 19 /2 0 2 0 | PAG E 14
Unemployment rate – seasonally unadjusted (annual to June 2019): New Zealand: 4.1% Taranaki: 4.9%
LabourMarket Market Labour LABOUR MARKET
NOT IN TRAINING OR EMPLOYMENT NOT IN TRAINING OR EMPLOYMENT NEET RATE: 15–24 years NEET RATE: 15–24 years Taranaki v New Zealand Taranaki v New Zealand Annual to June Annual to June
Labour Force Participation rate Labour Force Participation rate Taranaki v New Zealand Taranaki v New Zealand Annual to June Annual to June Taranaki New Zealand Taranaki New Zealand
Taranaki has a higher ‘participation rate’ than the New Taranaki has a higher ‘participation rate’ than the New Zealand average. Zealand average. Participation rate: The total labour force expressed as Taranaki Participation rate: The total labour force expressed as a percentage of the working-age population. has a higher a percentage of the working-age population. Participation rate: The total labour ‘participation force expressed as a percentage of rate’ than the New Zealand average.
the working-age population.
2019 2019
2018 2018
2017 2017
2016 2016
2015 2015
2014 2014
2013
2013
2012
11.9
2012
2018 2019
2017 2018
2016 2017
2015 2016
62
2014 2015
62
2014 2013
64
2013 2012
64
2012 2011
66
66
2009
68
2011 2010
68
2010 2009
70
70.5
70.5
2011
70
New Zealand New Zealand 16.1 16.1 11.9
2010
72
73.8
18 16 14 12 10 8 6 4 2 0
2011
72
18 16 14 12 10 8 6 4 2 0
2009
74
73.8
Taranaki Taranaki
2010
74
2019
76
2009
76
Taranaki has a higher level of youth not in training or Taranaki has a higher level of youth not in training or employment, than the New Zealand average. employment, than the New Zealand average. NEET Rate: The total number of youth (aged 15–24 years) who Taranaki has a higher level of youth not in training or employment, than NEET Rate: The total number of youth (aged 15–24 years) who are not in education, employment, or training (NEET), as a the New Zealand average. are not in education, employment, or training (NEET), as a proportion of the total youth working-age population. NEET Rate: The total number of youth (aged 15–24 years) who are not in proportion of the total youth working-age population. education, employment, or training (NEET), as a proportion of the total youth working-age population.
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CONSTRUCTION: Construction: $329.5 $329.5MILLION million
TOTAL BUILDING CONSENTS APPROVED THE 12ending MONTHS ENDING Total building consents approved for the FOR 12 months June 2019 JUNE 2019 Taranaki – total value building consents Taranaki - total value building consents YE June YE June $350,000,000 $300,000,000 $250,000,000 $200,000,000 $150,000,000 $100,000,000 $50,000,000 $0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
% Change in value of total building consents YE June 2019 20.0
11.3 2.6
10.0 0.0 -10.0
New Plymouth District
Stratford District
-20.0
South Taranaki District
Total Taranaki
6.4 Total NZ
-13.0
-30.0 -40.0 -50.0
-39.1
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The value of building The value of building consents increased 2.6% consents increased in Taranaki for the year 2.6% in Taranaki relative to the previous for the year relative 12 months. to the previous 12 The growth was months. predominantly driven by construction activity in the New Plymouth The growth District. was predominantly
driven by construction activity in the New Plymouth District.
Construction: Taranaki District analysis Construction: Taranaki District analysis CONSTRUCTION: TARANAKI DISTRICT ANALYSIS Total building consents approved for the 12 months ending June 2019 Total building consents for the months endingENDING June 2019 TOTAL BUILDING CONSENTSapproved APPROVED FOR12 THE 12 MONTHS JUNE 2019 Total value of building consents Total value of building consents YE June 2019 YE June 2019
Total building consents – Taranaki Districts Total building consents – Taranaki Districts monthly value monthly value
South Taranaki South Taranaki District, District, $50,246,877, 15% $50,246,877, 15%
New Plymouth District New Plymouth District
Stratford District Stratford District
South Taranaki District South Taranaki District
45,000,000 45,000,000 40,000,000 40,000,000 35,000,000 35,000,000
Stratford District, Stratford District, $16,770,102, 5% $16,770,102, 5%
30,000,000 30,000,000 25,000,000 25,000,000 20,000,000 20,000,000 15,000,000 15,000,000 10,000,000 10,000,000 5,000,000 5,000,000 New Plymouth New Plymouth District, District, $262,480,102, 80% $262,480,102, 80%
0 0 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Jan-19 Feb-19 Feb-19 Mar-19 Mar-19 Apr-19 Apr-19 May-19 May-19 Jun-19 Jun-19 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18
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AVERAGE VALUE OF A HOUSE Average Value of a House House valuations – as at June 2019 $1,400,000
$1,207,580
$1,200,000 $1,000,000
$827,125 $687,021
$800,000 $600,000
$558,000
$557,014
$463,472
$445,586
$400,000
$394,079
$290,509
$283,969
$243,401
$228,196
Whanganui
Stratford
South Taranaki
Clutha
$200,000 $0
Auckland City Wellington New Zealand Napier City City
Selwyn District
New Plymouth District
Palmerston North City
Manawatu District
House valuations – % change from June 2018 20
16.4 14
15
13.9 11
10
9.4
8.9 6.3
0 -5
6 2.9
5
Manawatu District
Palmerston North City
Whanganui
Clutha
South Taranaki Napier City
Stratford
2
1.7
Wellington New Plymouth New Zealand Selwyn District Auckland City City District -3.3
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The average value of a house has increased in The average value of Taranaki – up a house has increased 9.4% in South Taranaki to in Taranaki – up 9.4% $243,401; 6.3% in South Taranaki to in Stratford to $243,401, 6.3% in $283,969 and 2.9% in New to $283,969 and Stratford Plymouth to 2.9% in New Plymouth $463,472. to $463,472. The average value of a house in Auckland City is $1.2 million. The average value of a house in
Auckland City is $1.2 million.
defined categories displayed in these charts. The analysis, which is commissioned by Venture Taranaki, excludes cash and non-retail outlets.
$1,336,115,488: total retail spend in Taranaki* 4.9%: change in spend from previous 12 months
RETAIL: TARANAKI RETAIL BAROMETER
4.0%: rest of New Zealand
12 MONTHS ENDING JUNE 2019 COMPARED WITH JUNE 2018
Taranaki spend by category – 12 months to June 2019 $600,000,000 $500,000,000 $400,000,000 $300,000,000 $200,000,000 $100,000,000 $0
Accommodation
Apparel & Personal
Cafes, Restaurants & Takeaway
Department Stores & Leisure
Fuel & Automotive
Groceries & Liquor
Home, Hardware & Electronic
Tourist Activities
*total regional value varies slightly from District total due to inclusion of some additional retail activities, excluded at a district level for confidentiality reasons
$1,336,115,488: total retail spend in Taranaki*
% change in spend from previous 12 months • 4.9%: Taranaki • 4.0%: rest of New Zealand
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*total regional value varies slightly from district total due to inclusion of some additional retail activities, excluded at a district level for confidentiality reasons. This data reflects spend by EFTPOS and credit card in Taranaki retail outlets. Retail outlets reflect the defined categories displayed in these charts. The analysis, which is commissioned by Venture Taranaki, excludes cash and non-retail outlets.
•
$996,780,566: Total spend
•
4.6%: Change in spend
•
4.0% Change in number of transactions
•
0.6%: Change in average transaction value
NEW PLYMOUTH DISTRICT RETAIL BAROMETER $42.72: Average transaction value 12• MONTHS ENDING JUNE 2019 COMPARED WITH JUNE 2018
New Plymouth District – % change in spend 12 months to June 2019 9.3%
10.0% 8.0%
7.0%
6.5%
6.0% 3.9%
4.0%
3.3%
2.0% 0.3% 0.0%
Accommodation
-2.0%
Home, Hardware & Electronic
Apparel & Personal
Department Stores & Leisure
Fuel & Automotive
-2.0%
-4.0%
• 4.6%: Change in spend
$996,780,566: Total spend
• 4.0%: Change in number of transactions • 0.6%: Change in average transaction value • $42.72: Average transaction value
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Groceries & Liquor
Cafes, Restaurants & Takeaway
•
$106,356,394: Total spend
•
2.9%: Change in spend
•
2.2% Change in number of transactions
• •
STRATFORD DISTRICT RETAIL BAROMETER 0.8%: Change in average transaction value $42.17: Average transaction value
12 MONTHS ENDING JUNE 2019 COMPARED WITH JUNE 2018
Stratford District – % change in spend 12 months to June 2019 10.0% 5.0% 0.0% -5.0%
6.6% 0.9% Home, Hardware & Electronic
Accommodation
3.2%
3.8%
Fuel & Automotive
Groceries & Liquor
Apparel & Personal
-10.0% -15.0% -20.0% -25.0%
-25.0%
-30.0%
• 2.9%: Change in spend
$106,356,394: Total spend
• 2.2%: Change in number of transactions • 0.8%: Change in average transaction value • $42.17: Average transaction value
TA R A NA K I TR END S SUMMER 2 0 19 /2 0 2 0 | PAG E 21
4.4%
4.4%
Department Stores & Leisure
Cafes, Restaurants & Takeaway
•
$215,611,720: Total spend
•
8.0%: Change in spend
• • •
SOUTH TARANAKI DISTRICT RETAIL BAROMETER 5.3% Change in number of transactions
2.6%: Change in average transaction value
12$37.70: Average transaction value MONTHS ENDING JUNE 2019 COMPARED WITH JUNE 2018
South Taranaki District – % change in spend 12 months to June 2019 30.0% 25.8% 25.0% 20.0% 15.0%
15.0% 10.0%
10.0%
8.7%
8.1% 4.6%
5.0% 0.0%
1.8% Home, Hardware & Electronic
Apparel & Personal
Fuel & Automotive
Accommodation
Department Stores & Leisure
• 8.0%: Change in spend
$215,611,720: Total spend
• 5.3%: Change in number of transactions • 2.6%: Change in average transaction value • $37.70: Average transaction value
TA R A NA K I TR END S SUMMER 2 0 19 /2 0 2 0 | PAG E 22
Groceries & Liquor
Cafes, Restaurants & Takeaway
Visitor and tourism: Guest nights in Taranaki Visitor and tourism: Guest nights in Taranaki VISITOR AND TOURISM: GUEST NIGHTS IN TARANAKI SPENT in commercial accommodation outlets: spent in commercial accommodation spent IN COMMERCIAL ACCOMMODATION OUTLETS:outlets: 668,880 12 MONTHS ENDING JUNE 2019 months ending June 2019 668,880 12 668,880 ––12 months ending June 2019 Taranaki annual guest nights Taranaki annual guest nights
680,000 680,000 660,000 660,000 640,000 640,000 620,000 620,000 600,000 600,000 580,000 580,000 560,000 560,000 540,000 540,000 520,000 520,000 500,000 500,000
5 5 4 3 2 1 0 -1 -2
Ju
ne
09
-3
YE
Change in guest nights from previous year (%) Change in guest nights from previous year (%) Year ending June 2019 Year ending June 2019
-4 -5
4
4.1 4.1
3 2 1 0 -1
0.6
Stratford Stratford
1.3
0.6 0.1
1.3
0.1
South Taranaki New Plymouth District Taranaki South Taranaki New Plymouth District Taranaki
New Zealand New Zealand
-2 -3 -4 -5
-4.1
-4.1
There were 668,880 ‘guest nights’ by visitors spent in Taranaki commercial outlets e.g. hotels, motels, bed There were 668,880 ‘guest nights’ by visitors spent in Taranaki commercial outlets e.g. hotels, motels, bed and breakfast and holiday parks, for the 12 months ending June 2019. This reflected a 0.1% increase over the Thereand breakfast and holiday parks, for the 12 months ending June 2019. This reflected a 0.1% increase over the were 668,880 ‘guest nights’ by visitors spent in Taranaki commercial outlets e.g. hotels, motels, bed and breakfast and holiday parks, for the 12 months ending June 2019. This reflected a 0.1% increase over the previous year. previous year. previous year. Source: Commercial Accommodation monitor Source: Commercial Accommodation monitor Source: Commercial Accommodation Monitor
TA R A NA K I TR END S SUMMER 2 0 19 /2 0 2 0 | PAG E 23
VISITOR ARRIVALS AND LENGTH OF STAY
YEAR ENDING JUNE 2019 Visitor arrivals and Visitor arrivals andlength lengthofofstay stay Year ending June 2019 Year ending June 2019
Change in guest arrivals from previous year (%) Change in guest arrivals from previous year (%) Year ending June 2019 Year ending June 2019 4.5
4.5
4
4
3.5
3.5
Stratford South Taranaki New Plymouth Taranaki Taranaki New Zealand New Zealand 3 Stratford South Taranaki New Plymouth -1 District District 2.5 -2 -1.4 -1.4 -1.9 2 -1.9 -3
3
2
2
1
1
0
0
-1 -2 -3 -4 -5 -6 -7 -8
Commercial accommodation - average length of stay (% Commercial accommodation – average length of stay (% change) Commercial accommodation - average length of stay (% change) - year ending June 2019 change) - year ending June 2019 Year ending June 2019
1.1 0
0
1.5
-4
1
-5
0.5
-6
0
-7 -8
1.1
-6.8
-6.8
4.1
4.1
2.5 2
2.8
2.8
2
2
2.1 2.1
1.5 1 0.5 0
Stratford South Taranaki New Plymouth Taranaki Stratford South Taranaki New Plymouth Taranaki District District
FewerLess visitors came to the region (down 1.9%), but those that came, stayed longer (up 2.1%) visitorsLess visitors came to the region (down 1.9%), but those that came, stayed longer (up 2.1%) came to the region (down 1.9%), but those that came stayed longer (up 2.1%).
TA R A NA K I TR END S SUMMER 2 0 19 /2 0 2 0 | PAG E 24
0.2
0.2
New Zealand New Zealand
TARANAKI VISITOR SPEND: $417 million TARANAKI VISITOR SPEND: $417 MILLION
–Year 2019 YEARending ENDINGJuly JULY 2019
Annual visitor spend – Taranaki YE July $450m $397m
$400m $350m $300m
$294m
$286m
$279m
2009
2010
2011
$298m
$296m
2012
2013
$310m
$321m
$334m
$417m
$351m
$250m $200m $150m $100m $50m $0m
2014
2015
2016
2017
2018
2019
An estimated $417 million was spent by visitors/tourists in Taranaki for the 12 months ending July 2019 – and spend by visitors is continuing to grow.
An estimated $417 million was spent by visitors/tourists in Taranaki for the 12 months ending July 2019 – and spend by visitors is continuing to grow.
Source: MBIE; Monthly Regional Tourism Estimates (MTRE’s) Source: MBIE; Monthly Regional Tourism Estimates (MTRE’s)
TA R A NA K I TR END S SUMMER 2 0 19 /2 0 2 0 | PAG E 25
TARANAKI TARANAKI VISITORSPEND: VISITOR SPEND: GROWTH Growth SPEND: Rank Growth Rank by NO.3 TARANAKI VISITOR RANKbyBY REGION: Region: no.3 Region: no.3
YEAR ENDING JULY 2019
Year ending July 2019 Year ending July 2019 Rank in spend by region Rank in spend by region Year ending July 2019 Year ending July 2019 10%
10% 8%
8%
6%
8%
5%
5%
6%
5% 4%
4%
Taranaki was the Taranaki was the third highest Taranaki third highest was the growing region for growing region for third highest growing spend by visitor/ spend by visitor/ region for tourists for the 12 spend by tourists for the 12 months ending July months ending July visitor/tourists for 2019. 2019.
8%
4%
2%
2%
0%
0%
-2%
-2%
-4%
-4%
4%
5% 4%
4% 3%
4% 3%
4% 3%
3%
3% 3%
3%
3%
3%
3% 2%
2% 0%
0%
0%
0%
-3%
0%
0%
the 12 months ending July 2019.
-3%
Source: Census 2018
TA R A NA K I TR END S SUMMER 2 0 19 /2 0 2 0 | PAG E 26
Visitor spend by Taranaki District VisitorSPEND spendBYby Taranaki District VISITOR TARANAKI DISTRICT Visitor spend: by Taranaki District Visitor spend: by Taranaki District Year end July 2019 Year end July 2019
$450m $450m
Annual visitor spend – Taranaki TLA Annual visitor spend – Taranaki TLA YE July YE July
$400m $400m
Stratford, $21m, 5% Stratford, $21m, 5%
$350m $350m
South Taranaki, $58m, 14% South Taranaki, $58m, 14%
$300m $300m $250m $250m New Plymouth New Plymouth District, $338m, District, $338m, 81% 81%
$200m $200m $150m $150m $100m $100m $50m $50m $0m $0m
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 New Plymouth District Stratford South Taranaki New Plymouth District Stratford South Taranaki
TA R A NA K I TR END S SUMMER 2 0 19 /2 0 2 0 | PAG E 27
TARANAKI – CONFIDENCE AND OUTLOOK NZ economic outlook – next 12 months Improve
Remain the same
Deterioriate
Don't know
70%
Same: 53% (no change)
60%
Improve: 22%
50%
(up from 18%)
40%
Deteriorate: 20%
30% 20%
(was 24%)
10%
Don’t know: 6% -0
-0 9 M ay -1 0 D ec -1 0 Ju n11 D ec -1 1 Ju n12 D ec -1 2 Ju n13 D ec -1 3 Ju n14 D ec -1 4 Ju n15 D ec -1 5 Ju n16 D ec -1 6 Ju n17 D ec -1 7 Ju n18 D ec -1 8 Ju n19
9
ec D
8 -0
-0
ay
M
N ov
ay
M
N ov
-0
7
8
0%
Venture Taranaki surveys Taranaki businesses on a 6-monthly basis concerning confidence in the New Zealand economy and its outlook for the next 12 months. The latest results (undertaken May/June 2019) indicated a slight rebound in confidence. The next survey is scheduled for November/December 2019.
TA R A NA K I TR END S SUMMER 2 0 19 /2 0 2 0 | PAG E 28
Taranaki’s Regional Development Agency 9 Robe Street | PO Box 670 New Plymouth 4340 | New Zealand T: +64 6 759 5150 E: info@venture.org.nz www.taranaki.info An initiative of