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Innovation, creativity and new endeavours are welcomed and encouraged. Ideas are exchanged across all sectors, resulting in a creative business culture. We have excellent education and research institutions, and benefit from being the seat of government.
Entrepreneurship and innovation, including research and development are important for economic growth and for sustaining a dynamic economy capable of competing successfully on the international stage. A diverse business environment is better able to absorb cyclical downturns and changing market trends. If there is business confidence people are more inclined to venture into entrepreneurial activities as they see the economy able to support new ideas.
Entrepreneurial and innovative community is made up of 4 indicators that were selected to measure progress towards the entrepreneurial and innovative community outcome definition (shown above). Please see below for the raw data available over the 2001 to 2017 study period for each of the entrepreneurial and innovative community indicators.
As with the economic well-being GPI, the available indicator data that forms part of entrepreneurial and innovative community outcome area was used to calculate individual index values for each indicator where data was available. The graph below shows the average of these individual index values, and represents the entrepreneurial and innovative community GPI for the Wellington region from 2001-2017.
Natural disasters (and the cost of cleaning up after them) actually create an increase in GDP, thus counting natural disasters as a benefit to our economy. From a GPI perspective, natural disasters would be a decline in our well-being
Click on each indicator below to access further information
Research and development (R&D) is important for economic growth and for sustaining a dynamic economy capable of competing successfully on the international stage. R&D generates new knowledge which in turn leads to innovation and positive change that can also improve well-being.
Gross expenditure on research and development in the Wellington region expressed as a percentage of the Wellington region GDP.
Last updated April 2017
The methodology used to determine the percentage of GDP spent on R&D in the Wellington region is derived from the Statistics NZ Research & Development survey (and has been modified since the 2011 WR-GPI was published). Spend proportions of relevant sectors are allocated uniformly across the time series. Comparison between the Wellington region and NZ is not appropriate as the assumptions made for the Wellington region are context specific and differ to those applied at a national level.
Indicators are updated in April/May and November each year; for those indicators where new data or survey results have become available.
While care has been taken in processing, analysing and extracting information, we cannot guarantee that the information is free from error and we shall not be liable for any loss suffered through the use, directly or indirectly, of any information, product or service.