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Our Economy In 2006 the Waitaki Development Board commissioned Business and Economic Research Limited (BERL) to undertake a detailed ten-year analysis of our economy at District level – previously information had only been available generally at an Otago Region level. We found many surprises and some very good news. For example, in the ten-year period 1996-2006, GDP per capita and Labour Productivity in our district have both been consistently above national NZ averages. We have a tiny population of around 20,300 people, spread over a huge area; we have the equivalent space of 35 hectares for each man, woman and child in the district. In 2006, we had 8,300 people in full time employment, spread across 2,600 businesses. Collectively these hard working people generated $684million in Gross Domestic Product (GDP). We are a hard working, successful people. The recent introduction of large-scale irrigation has brought new confidence to our agricultural sector, resulting in increased farm investment, especially dairying. This has brought significant employment opportunities and a new lease of life for our small rural communities. Not surprisingly, the Primary sector comprises 40.2 per cent of the district’s businesses. The Manufacturing & Building sector is also important to our economic wellbeing, contributing just over one third of the district’s total GDP. This was surprisingly good news. Even the Business Services sector played an increasingly important part in the district’s economy, adding 354 businesses over the past decade. We are growing on nearly every front. Over the past decade, Tourism outstripped the district’s average in Employment, GDP and Business Unit Growth. Tourism now produces $29.2million in GDP, via 144 businesses. Continuing development of internationally recognized tourism ventures will ensure our increasing popularity as a visitor destination.
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