Positive signs for the year ahead

The year is off to a roaring start. Not only has Waitaha Cantebury been visited by the largest number of visitors in more than three years, bringing a reprieve to many of our local businesses, the vibrant character of our region is well and truly back.

Canterbury has also welcomed the return of the largest aeroplane in the world, the Emirates’ double-decker carrying up to 615 passengers, connecting us with one of the world’s largest transport hubs on a now-daily basis.

It’s not just about more people going to and from; it’s about connecting Canterbury to the rest of the world and increasing our access to other markets at a time when our global competitiveness has never been more important It is something to be proud of.

Compared to the previous three years and compared to other regions in Aotearoa New Zealand, the Canterbury economy is performing relatively well.

Sometimes we get bogged down in the doom and gloom that often comes in the form of news headlines forecasting the next great depression – but the reality is much different. The state of Canterbury’s economy differed greatly from that of the other two big cities. Our diversified economy with a strong primary industry and manufacturing backbone continues to keep our regional economy in a buoyant position.

Consumer spending habits may be changing as the cost of living becomes more challenging and inflationary pressures may be driving forecasts of a recession, yet when you look at the data, we’re not being hit as badly as others. So that’s something else to be positive about too.

The word is very much overused but there is something to be said about Cantabrians being resilient.

We have confidence that this year, despite the economic turbulence, the business community is in a position to take advantage of the opportunities as they present themselves - and there is much to be excited about.

We do, however, have to be realistic about the very real challenges ahead.

The unpredictable nature of the economy is preventing many businesses from, simply put, getting on with business.

Labour market shortages aren’t going anywhere soon and nor are supply chain constraints - just look at the nationwide egg shortage.

Unfortunately, we expect both labour market shortages and supply chain constraints to endure throughout the year.

It is pleasing to see a commitment from the government that they intend to focus on the ‘bread and butter’ throughout the remainder of their term.

Refocusing on the big issues and filing away the parts of their policy agenda which aren’t a priority for many at the moment, is the right decision.

There is possibly nothing more important right now than curbing inflation which, is having such a palpable impact on many.

The continued battering of wild weather in the North Island is a reminder to expect the unexpected.

Unfortunately, the flooding has put a strain on many businesses and households - we’re thinking of them, as we all know mother nature can be challenging.

It’s a timely reminder to also consider our own contingency plans in the event of such disruptions, both at home and at work.

2023 is an election year, and while this is not the immediate or single answer to any of our woes, we are looking forward to engaging in constructive debates on behalf of Canterbury’s business community about which way New Zealand will go and the types of policies that will support the strong healthy New Zealand for all.

The onus is on our decision makers to present a plan that is ambitious for our future for all New Zealanders, and will allow businesses to invest, to grow, and to flourish. And we’re very excited about that because there are opportunities abound. Have a great year.