Tourism is considered the largest contributor to New Zealand’s economy. In this short article I try to evaluate the countries confidence and strength in overcoming the financial crisis of the past 18 months.
Increased turnover, mobility & opportunities
After 18 months of economic uncertainties and redundancies, employees in New Zealand have weathered the storm and survived. With confidence returning the economy potential employee may decide it is time to move on as the more and new jobs in New Zealand become available.
Dependent upon the government’s rescue and stimulus packages, 2010 may be a year where jobs in New Zealand come and go and attract new opportunities, foreign investment, attract more skilled workers and some challenges for those who lost their jobs.
Rebuild and restrengthen confidence
With a new decade, there often comes a new attitude and hope that will help improve the nations confidence the financial sectors and housing market. Current property prices in New Zealand have hit an all time high. Some economists are concerned about the rates of interest customer are facing with mortgage interest rates expected to rise over the next four months.
Skilled Migrants
New Zealand’s skilled migration program is geared to target the missing skills in the job market. Skilled jobs in New Zealand are growing. The nation’s resources, environment, culture and climate make it a very popular destination for the expat community.
The importance of creating skilled jobs in New Zealand helps to drive growth and has been known for years, but the trends have only accelerated over the past decade. Figures released towards the end of the last decade show annual net permanent and long-term (PLT) migration to New Zealand was 20,000.
Highly skilled migration to New Zealand has been used as a quick fix to fill specific gaps in the labour market. For the future the country may have looked towards adapting and investing in the education systems to cater for future short falls in the skilled workers market.