Auckland is one of the most business-friendly markets in the world. The city is New Zealand’s largest economy and it continues to grow. Auckland accounts for 35 per cent of New Zealand’s GDP and is unique in the world in its scale to the national economy. Auckland’s GDP is growing at 2.9 per cent per annum, and this growth is creating new investment opportunities in a range of sectors, attracting innovators and entrepreneurs from around the world.
Working with the world
Auckland is a major national gateway for imports and exports. New Zealand's geographic proximity and extensive free-trade agreements, particularly in the Asia-Pacific region, provide access to key global markets and pave the way for a smoother investment and trade process.
New Zealand has spread its wings over the past decade, particularly in the emerging economies of Asia and the Middle East. New Zealand operates an open, globally competitive marketplace, and the trade agreements have increased its domestic wealth and helped to grow the economy.
Transport and freight
Auckland has excellent infrastructure across transport, logistics and telecommunications. Most major international airlines serve our international airport, with global and regional shipping lines serving port facilities.
By value, Auckland's sea and land ports handle around 60 per cent of New Zealand’s imports and 30 per cent of exports. Auckland’s airport handles 74 per cent of New Zealand’s international arrivals and 85 per cent of airfreight, while the sea port is 30 per cent (source: Auckland Airport, Ministry of Transport).
New Zealand also has an extensive road and rail transport system, with further infrastructure investment planned by local and central government.
The Reserve Bank of New Zealand supervises New Zealand's banking system and its main function is to implement the central government’s monetary policy and to maintain financial stability. It also registers and supervises other banks. The Reserve Bank's monetary policy, defined by the Policy Target Agreement with the Government, is to maintain inflation at between 1 and 3 per cent on average over the medium term.
New Zealand has an open door policy on bank registration, with 23 banks currently registered in New Zealand. As New Zealand’s business and financial hub, Auckland is head office for most of these banks, with banks from India and China most recently registering in Auckland.
|ANZ Bank New Zealand Ltd|
|ASB Bank Limited|
|Australia and New Zealand Banking Group Limited|
|Bank of Baroda (New Zealand) Limited|
|Bank of India (New Zealand) Limited|
|Bank of New Zealand|
|China Construction Bank|
|Commonwealth Bank of Australia|
|Deutsche Bank A G|
|Heartland Bank Limited|
|Industrial and Commercial Bank of China (New Zealand) Limited|
|JPMorgan Chase Bank NA|
|COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A. trading as Rabobank Nederland|
|Rabobank New Zealand Limited|
|Southland Building Society|
|The Bank of Tokyo-Mitsubishi UFJ Limited|
|The Co-operative Bank Limited|
|The Hongkong and Shanghai Banking Corporation Limited|
|TSB Bank Limited|
|Westpac Banking Corporation|
|Westpac New Zealand Limited|
New Zealand's telecommunications infrastructure includes international broadband submarine cable systems and competitive onshore mobile networks.
The Southern Cross Cable alone delivers 240Gbit/s of fully protected bandwidth to the United States mainland, Hawaii, Australia and Fiji. As demand increases, capacity can be doubled to 480Gbit/s. Two further submarine cables are underway, providing Auckland with increased redundancy.
The New Zealand Government has initiated a $1.5 billion programme partnering with the private sector to deliver fibre broadband capacity to businesses, health institutions, schools and homes. 3G mobile networks are operating and the rollout of a 4G mobile network is currently underway.
The rollout is bringing up to 100Mbps fibre even closer to homes and businesses in Auckland. This fibre to the premises network means it will be possible to deliver the highest data speeds that can support services like internet television and high definition video conferencing. The programme involves laying thousands of kilometres of fibre optic cable and ducting in Auckland. Schools will receive first priority.
Auckland is well served by 27 internet service providers.