Auckland's economy needs to be constantly agile and innovative. This is particularly important in an age of disruptions such as climate change, geopolitical tensions and rapid technological change.
International connectivity is also critical to Auckland's economy and success. We must deliver innovative, quality products and services to markets across the globe in timely and sustainable ways.
In recent decades there has been an increase in Asia's prosperity. Auckland's proximity to Asia provides multiple opportunities for developing trade and economic engagement, as described on the
Tripartite Economic Alliance page.
We also have immense potential in the growing numbers of young and diverse people living in Auckland, who will need to play a significant role as future innovators and entrepreneurs within the economy.
Innovation among enterprises of all sizes can provide Auckland with the resilience to adapt in a rapidly changing world. Developing and implementing interventions, which include the transition away from carbon-intensive sectors and practices, can deliver long-term growth, skills, job creation and sustainability.
Disruption and a changing world
Disruptions such as climate change, pandemics, geopolitical tensions and technological transformation highlight vulnerabilities in our regional and global economy and challenge the way we view
our economic systems.
Technology is transforming business models, employment opportunities and consumer behaviour. Changes for individuals and organisations will be both positive and negative as new jobs are created and existing jobs disappear.
The predicted scale of change (sometimes referred to as the
Fourth Industrial Revolution, Industry 4.0 or the automation age) will continue to alter both labour participation and
productivity, affecting many industries in different ways and at different speeds.
It is often predicted that automation will disproportionately affect low-skilled jobs, yet recent developments in artificial intelligence indicate that jobs of all types and levels are likely to be affected.
While some of the most vulnerable in society and those least able to adapt to change may be affected first, technological developments will affect everyone.
Find out more about
the impact of new technology.
Climate change impacts
Disruptions demonstrate the need for a more resilient economy that is regenerative and inclusive, enabling Aucklanders to thrive.
Climate change impacts, such as exposed global supply chains, accelerate the need to look inwards, moving towards local production and distribution and greater investment in local suppliers.
Find out more about
the economic priority in Te-Tāruke-ā-Tāwhiri: Auckland’s Climate Plan.
The potentially high-quality employment opportunities that come from innovation must be connected across Auckland by good transport and digital networks.
Education, training and skills
To prepare Aucklanders for these shifts, we need to develop timely training and re-training opportunities. Targeted investment in education, training and skill development for all ages is vitally important.
Higher levels of literacy, numeracy, and other skills along with educational achievement allow for more people to participate in the economy, to find quality work and to raise their income levels.
Children and young people in particular need access to first-rate formal and informal education to set a solid foundation for development throughout their lives.
Having the right skills for the future requires everyone involved to work together to provide appropriate skill development in innovation areas. These include the creative and information technology sectors.
We must also fill skill gaps such as those in the construction sector and in core public services such as nursing and teaching.
Culture and practices need to change to ensure learning opportunities are available, starting in early childhood and extending throughout life, so that continuous learning becomes second nature.
This will provide people with the life skills they need to be fulfilled and to thrive in their families, communities and in their work.
How we will measure progress
We will track progress against a set of
The measures for this outcome are:
- labour productivity
- Aucklanders' average wages
- employment in
zoned industrial land
- level of unemployment
- use of internet in the home relative to income
- educational achievement of young people.