Economic progress a long game
Agency helping Whanganui move forward looks back on 10 years aiming for positive trends over time
What were you doing 10 years ago? We know what Whanganui was doing in 2014. In the eyes of the media and other New Zealanders, not much. Not much in the eyes of residents who had moved offshore. Certainly, in the eyes of economists and commentators, not very much at all.
Locals were seeing a more positive and hopeful story but, unfortunately, the perception was reality on the outside. Labelled a zombie town, Whanganui was cast as the representation of an economic wasteland, portrayed as being reliant on seemingly stale sectors from yesteryear. Ageing businesses with no promise. Workers with the skills for a bygone era. The national assessment was devastating.
But all has been revealed in the fullness of time. The headlineseeking opinions were found to be as wrong as can be. Whanganui has flourished and come into its own. A dynamic and diverse economy benefiting from experienced leaders and an influx of innovative thinking.
Ten years ago, Whanganui & Partners was also formed. An economic development agency that generated national recognition that Whanganui was serious about its economy growing and improving. A move of great foresight by local leaders and forward-thinking practical people, including those in the Whanganui District Council, who were determined to ensure economic development could be led in a more flexible, agile way.
Economic development is a long game, and it has taken time to be able to analyse how successful the model has been. We are now in a place where no other economic development agency has set such a significant strategic platform for long-term success, while also delivering more immediate successes.
Economic development is about consistency. We must be strategic in our thinking and resilient to the natural ebbs and flows of business and economic activity.
While we celebrate the records on the way, what we’re most importantly working towards is positive trends over time.
Whanganui’s GDP hit +4.7 per cent in 2022, a big record-breaking moment for the economy. But more important is the less flashy but just as significant figure of +2.4 per cent growth for Whanganui over the past five years (2019-now).
New Zealand’s growth over that period? Also +2.4 per cent. Why is it great? Because between 2013 and 2018 Whanganui’s growth was +1.8 per cent vs New Zealand’s +3.4 per cent. And the five years from 2008 to 2012? Whanganui’s GDP grew at -0.5 per cent as New Zealand averaged +0.5 per cent.
Your economic development agency has helped move Whanganui to the position of No 1 for domestic tourism growth, supporting the growth of new and existing businesses. It has attracted new events and international films. It has rebuilt a pipeline for international students. It has directed multi-millions of dollars from central government into local initiatives to help develop and promote this great place.
It has delivered a new designation as a Unesco City of Design, part of a recognised global network that will further elevate Whanganui’s profile and opportunities.
Good things take time. And economic development cannot be a stop-start affair. It is important to be consistent and prevailing. So when you look forward another 10 years, what do you see for Whanganui? Let us know and let’s get there together.