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There is a general agreement that technology is important for our economy but there is little research to confirm how important. So just how important is technology for New Zealand’s economy? Without the answer there is a very real risk that as a country we will miss great opportunities for both economic and social growth. This study has been designed to answer that question by defining and sizing the technology sector, the jobs it creates, the export earnings it contributes and the positive spillovers into other parts of the economy and society as a whole.
The NZTech economic impact study will be a comprehensive measurement and analysis of the economic impact of the broader tech sector including both hi-tech and ICT.
The study objectives can mostly be met by conventional analysis of the economic impacts of the sector and indices for measuring progress – ‘the basics’. The measurement of economic impacts of the sector includes measurement of the impact of the sector on other sectors of the New Zealand economy. A computable general equilibrium model will be used for this as it measures the effect on GDP at the sectoral level and traces the flows and constraints between sectors.
In addition to the basics, analysis of the Tech sector demands extra attention to ‘bigger picture’ issues than is usual for an analysis of economic contributions.
The Tech sector is a key part of New Zealand’s growth potential and New Zealanders’ standards of living because it is a driver of connectedness, capability and complexity.
The study will measure:
- what the sector produces (sales and value-added) for business & investment, domestic consumption and export.
- the number of people engaged in the sector and related (upstream and downstream) sectors.
- the economic importance of the underlying critical networks & the impact of increased usage.
- the spillover and benefits that technology is bringing to other critical sectors and for society as a whole.
To complete the study NZTech will partner with a reputable economic research house and the research will be co-funded by industry and government as it brings great value for both. If you are interested in more information about supporting this project please contact NZTech CEO, Graeme Muller.