The outlook for economic growth in Manawatū is strong
The Manawatū region is experiencing strong economic growth and the outlook for the next fifteen years is particularly strong. A major increase in central government, local government and private sector capital investment over the next fifteen years is providing a significant boost to economic activity and population growth in the region.
Seven sectors are expected to contribute to a significant share of future growth in the number of jobs and incomes in the region over the next 25 years. They are healthcare, tourism, logistics, public administration (including defence), professional, scientific and technical service, construction and manufacturing.
The education and defence sectors are not likely to grow as fast as the key growth sectors. However, they remain important sectors for the region’s economy because they play an important role in attracting businesses, families and young people to the region. The education and defence sectors are also relatively independent of national economic cycles, and often operate in a counter cyclical role.
The projections suggest significant change in the region will occur due to an aging population and workforce, and a rapid change in the ethnic composition of the region’s population. The changes in the ethnicity of the Manawatū region’s population are projected to accelerate through the projection period.
The agricultural sector remains an important contributor to the region’s economy, reflecting the region’s role as a major centre for the Manawatū-Whanganui region. The long-term outlook for the agriculture sector is positive due to increasing wealth and the growing population in Asia.
Download the full Manawatū Long-Term Projections Executive Summary.