Auckland - Economy

Economy

Most major international corporations have an Auckland office, as the city is the economic capital of the nation. The most expensive office space is around lower Queen Street and the Viaduct Basin in the Auckland CBD, where many financial and business services are located, which make up a large percentage of the CBD economy. A large proportion of the technical and trades workforce is based in the industrial zones of South Auckland.

The largest commercial and industrial areas of Greater Auckland are in the southeast of Auckland City and the western parts of Manukau City, mostly bordering the Manukau Harbour and the Tamaki River estuary.

The sub-national GDP of the Auckland region was estimated at US$47.6 billion in 2003, 36% of New Zealand's national GDP, 15% greater than the entire South Island.

Auckland's status as the largest commercial centre of the country reflects in the high median personal income (per working person, per year) which was NZ$44,304 (approx. US$33,000) for the region in 2005, with jobs in the Auckland CBD often earning more. The median personal income (for all persons older than 15 years of age, per year) was NZ$22,300 (2001), behind only North Shore City (also part of the Greater Auckland area) and Wellington. While office workers still account for a large part of Auckland's commuters, large office developments in other parts of the city, for example in Takapuna or Albany, both on the North Shore, are slowly becoming more common, reducing concentration on the Auckland CBD somewhat.

Read more about this topic:  Auckland

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Famous quotes containing the word economy:

    It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.
    Henry David Thoreau (1817–1862)

    Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.
    Friedrich Nietzsche (1844–1900)