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Wellington’s regional economy is modern, diversified and export-focussed. From technology and digital creative, to primary industry and food production, the breadth of Wellington’s economic base ensures long-term yields while providing room for growth and innovation.
Wellington has the highest concentration of web-based and digital technology companies per capita in New Zealand. Wellington specialises in gaming, creative and digital, and tech startups, and is home to 15 of New Zealand’s largest export-focused technology companies.
One such company, Xero, was founded in Wellington in 2006, and has become a global leader in online accounting software, with a market capitalisation of $2.3 billion.
Wellington has an internationally recognised multi-million-dollar, film-making industry, contributing 79% of New Zealand’s feature film revenue. It is a global leader in post-production and visual effects technology in particular, generating 90% of New Zealand’s export post production dollars.
The Hobbit trilogy, The Planet of the Apes series, Avatar, King Kong and the Lord of the Rings trilogy were all made in Wellington.
Wellington has a variety of civic infrastructure projects in the pipeline that will need investment in coming years. There are plans for new museums, concert arena and a convention centre in the wings. The region is also undertaking some major transport infrastructure investment. Take a look at the large construction projects in Wellington primed for investment.
Wellington office, industrial and retail properties are attractive investment opportunities for overseas investors. Wellington’s regional economy is experiencing strong growth which is expected to boost demand and leasing activity for commercial real estate.
Wellington prime Central Business District office yields are assessed at 7.89%. Prime CBD retail properties are at 6.85% and prime Industrial yields at 8.15%. Search commercial property for sale in Wellington.
Wellington also has a diverse range of technical manufacturing enterprises, with a particular focus on innovative, high-value, niche solutions for business clients across a range of industries. Examples include Fraser Engineering’s emergency vehicles and Formway’s ergonomic seating.
Wellington is a hub for science and technology. It is home to a highly innovative and globally connected science community with key national research institutes and world renowned universities. Biotech and pharmaceuticals as well as seismic technology are specialist areas for Wellington. Wellington’s science community, its neighbourhood of government funders and purchasers and its cost competitiveness make it an ideal place to invest or form science partnerships.
Professional services are a proportionately larger component of Wellington’s economy than any other part of New Zealand. Firms providing legal, accounting, engineering, public policy and management consulting services are well represented in Wellington by global companies as well as smaller locally-owned businesses.
Wellington is renowned for its export quality food and beverage production, and is known as New Zealand’s ‘culinary capital’. The region has a global reputation for wine and other niche products including olives, honey, and chocolate.
The fastest growing component of Wellington’s culinary economy is craft beer production, which accounted for 40 per cent of total growth in Wellington’s food and beverage sector during the past four years.
New Zealand is world-renowned for its primary product exports and the Wellington region makes an important contribution to this sector.
Livestock farming, including dairy, forestry and horticulture (including grapes) make up the bulk of primary production in the region which, together with processing, contributes more than $1 billion of the region’s GDP.