Economic » Entrepreneurial & Innovative

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.

What is Entrepreneurial & Innovative?

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 2016 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 for each year over the 2001 to 2016 study period. The graph below shows the average of these individual index values, and represents the entrepreneurial and innovative community GPI for the Wellington region from 2001-2016.

 

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Entrepreneurial and innovative community GPI, 2001-2016

What this means

Between 2001 and 2016, the entrepreneurial and innovative community outcome has been overall on an upward trend, increasing by 24.3%.

 

Following a modest increase from 2001 the index exhibits a strong rise up to 2004, which is followed by a relatively minor dip across 2005 and 2006. The index then returns to growth, albeit less rapid, leading to another dip between 2009 and 2010. The upward trajectory returned with strong growth between 2010 and 2014, and a recent rise in 2016.

 

Did you know?

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

4 Indicators are being used to track Entrepreneurial & Innovative in the Wellington region

Click on each indicator below to access further information


Download Territorial Authority data for these Indicators


Highly skilled workforce

Why is this indicator important?

The skills available within a region impact the region’s capacity to support particular industries and consequently its economic outlook. Areas where the requisite skills base and knowledge capacity are in place are more likely to attract particular industries, which will lead to more dynamic economic outcomes. For this indicator, these industries include professional, scientific and technical services occupations.

Percentage of workforce employed in highly skilled occupations, 2001-2016

Findings

  • In 2016, 12.3% of the Wellington region workforce was employed in professional, scientific or technical services occupations.
  • The percentage of the workforce employed in these occupations has increased slightly, from 10.1% in 2001 to 12.3% in 2016.
  • The percentage of the workforce employed in highly skilled occupations in the Wellington region was consistently substantially higher than the national rate between 2001 and 2016, which was 6.2% in 2001 and reached 8.2% in 2016.
  • Definition of highly skilled occupations differs to that used in the 2011 WR-GPI publication.

Highly skilled workforce

Definition and data details

Indicator Definition

People employed in highly skilled occupations (scientific research, architecture, engineering, computer systems design, law, accountancy, advertising, market research, management and other consultancy, veterinary science and professional photography-Stats ANZSIC 06 code M) expressed as a percentage of employed people.

Data Source

Statistics New Zealand Business Frame

Last updated April 2016

Indicators are updated in April 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.