Video | Business Headlines | Internet | Science | Scientific Ethics | Technology | Search


NZ Tech Sector Soaring Since Covid

New Zealand desperately needs more digitisation to engage with the rest of the world’s rapidly growing digital economies, NZTech chair Mitchell Pham says in his report to the annual meeting in Auckland on Thursday.

“It is difficult for most Kiwis to think about what the world was like before the covid pandemic, but the nation’s digital future is no longer a conversation about what the future may hold, because it is happening now, since covid arrived,” Pham says.

“Our tech sector has a critical role to play in accelerating the mass digital transformation that began last year.

“The tech industry can also boost growth and expansion by benefitting from new investment capital and investors.

“With borders remaining closed, New Zealand’s tech talent shortage has been pushed to critical levels, due to our heavy reliance on immigration.

“It is essential government and industry invest in developing our digital workforce for the medium-to-long term, while businesses explore short to-medium term options to engage remotely with offshore tech talent,” Pham says.

Chief executive Graeme Muller says New Zealand’s tech sector has been delivering strong year-on-year growth which has largely been unconstrained by natural resource limits or economic downturns.

“As well as annual growth in weightless exports and job creation, the sector has been enabling the digital transformation of most other parts of the economy.

“Over the last year, even under the pressure of covid lockdowns and border closures, the New Zealand tech ecosystem continued to grow and deliver positive impacts for our economy and society.”

The key takeaways from the NZ tech year showed:

  • The sector has 23,229 companies, 111,760 employees and has $8.5 billion of exports globally
  • It makes up eight percent of New Zealand’s GDP, and employs five percent of the workforce
  • New Zealand’s top 200 tech companies earned $12.7 billion globally in revenue
  • The sector grew 11.4 percent and the median salary in 2020 was $95,000
  • Each four percent of growth in the tech sector provides $2.7 billion to the GDP
  • Each tech sector job creates five new jobs in other industries

NZTech won the best contribution prize at the annual New Zealand Hi-Tech awards this year, for its efforts in creating a socially and economically prosperous New Zealand underpinned by technology.

© Scoop Media

Business Headlines | Sci-Tech Headlines


BusinessNZ: Third Snapshot Report Reveals $9.5 Billion Business Investment In Climate Action

Signatories to the Climate Leaders Coalition have committed to invest $9.5 billion over the next five years to reduce emissions from their businesses, as revealed in their third anniversary snapshot report released today... More>>

Digitl: The home printer market is broken
Printers are more of a security blanket that a serious aid to productivity. Yet for many people they are not optional.
Even if you don’t feel the urge to squirt ink onto dead trees in order to express yourself, others will insist on printed documents... More>>

Serious Fraud Office: Commences Enquiries Into Allegations Of COVID-19 Wage Subsidy Fraud
The Serious Fraud Office has commenced a number of enquiries into alleged abuse of the Government’s COVID-19 Wage Subsidy. Director Julie Read said the allegations relate to multiple complex cases of potential fraud that have been referred to the agency following extensive investigations ... More>>

ComCom: Companies In Hot Water For Selling Unsafe Hot Water Bottles And Toys

A wholesaler and a retailer have been fined a total of $140,000 under the Fair Trading Act for selling hot water bottles and toys that did not comply with mandatory safety requirements. Paramount Merchandise Company Limited (Paramount) was fined $104,000 after pleading guilty in the Manukau District Court... More>>

Reserve Bank: Robust Balance Sheets Yield Faster Economic Recovery

Stronger balance sheets for households, businesses, financial institutions and the government going into the pandemic contributed towards maintaining a sound financial system and yielding a faster economic recovery than following previous deep recessions... More>>

Transpower: Releases Independent Report Into Events Of August 9
Transpower’s Chief Executive Alison Andrew has today released an independent report into the grid emergency of August 9 when insufficient generation was available to meet demand, leading to some customers being disconnected... More>>