Economic impacts of Ultra-Trail Australia 2024
This report estimates the economic impacts on the Blue Mountains economy from spending by trail runners who attended Ultra-Trail Australia (UTA) by UTMB in May 2024.
Blog
Inland Otago to exceed Dunedin in half a generation
Otago's population centre is rapidly moving inland. Within 15 years, the population of Inland Otago, encompassing the golden triangle of Queenstown, Wānaka, and Cromwell, could exceed Dunedin's population.
Redemption in Heidelberg, after UTMB illness
I was thrilled to nab a podium in an ultra-trail race in Germany, with a 2nd place finish in the 50km (with 2,100m of climbing) Heidelberg Long Distance Trail Marathon.
Budget 2024: Regional economic development takeouts
I had the pleasure of attending Budget 2024. Rather than get swamped in the detail, I dedicated my focus to unpacking what is in the Budget for regional economic development.
Inflation expectations down to 3-year low!
The Reserve Bank of New Zealand is likely pleased with the decline in one- and two-year ahead inflation expectations, especially the two-year measure near the midpoint of the 1% to 3% target band.
Economic impacts of spa and wellness tourism in Rotorua
The “Economic impacts of spa and wellness tourism in Rotorua” report, provided by New Zealand leading regional economist Benje Patterson, has unveiled significant positive economic impact and shown the city's prominence as a premier destination for relaxation and rejuvenation.
Labour market cooling evident
If further labour market weakness is coupled with any significant downward surprises in inflation or economic performance then the Reserve Bank could begin to consider initiating OCR cuts earlier than anticipated.
Domestic inflationary pressures persist
Inflation to March was 4.0%pa, down from 4.7%pa in December - its lowest rate since June 2021. At first blush, this appears to be a great result and, while lower inflation is something to celebrate, there were still pockets of concern.
NZ’s abysmal productivity record continues
Labour productivity fell by 0.9% during the March 2023 year - the largest fall since 2009. This is one of the most disgusting economic statistics that I have seen in a long time, and it's disappointing.
Lower food prices not good for all
Why on earth does a moderation to food pricing pressures concern me? Well it is because a big part of the decline has been driven by a weakening of fortunes for key export commodities.
Happy 5th birthday to Benje Patterson Ltd!
I can scarcely believe that my economic consultancy has turned 5. Since 2019, I have worked on hundreds of projects for a large range of clients. These projects have spanned the length and breadth of New Zealand, and have even included some forays abroad.
NZ back in recession
The official data is only confirming what we already knew. People and businesses have shut their wallets, everything is falling in per capita terms, and the only thing that has been keeping up the headline is sky high population growth.