Economic optimism is on the up and up, a recent report suggests. The latest biannual Rotorua Business Pulse Report indicates strong confidence among business leaders who expect the economic situation to improve over the next 12 months.
Serving as a ‘key barometer’, the Rotorua Business Pulse survey and report is run by RotoruaNZ and the Rotorua Business Chamber.
Responses from 99 business owners, CEOs and GMs, revealed that 52 per cent used ‘growth’ or ‘recovery’ as a single word to describe Rotorua.
“We’re encouraged to see growing confidence among Rotorua’s business leaders, with positivity around profitability and an optimistic outlook on business growth in the coming year,” RotoruaNZ chief executive Andrew Wilson said. “The survey results highlight that our local businesses are pushing forward, despite challenges, with rising organisational morale and strategic focus leading the way.”
However, finding skilled staff and addressing barriers related to housing and air connectivity continue to be pressing concerns, he added.
“RotoruaNZ is committed to working alongside our business community to enhance our city’s reputation and address these issues to ensure Rotorua continues to be an attractive, sustainable hub for both business and talent,” Wilson said.
Businesses have adapted positively since early 2024, Paul Ingram from the Rotorua Business Chamber added.
“The latest Business Pulse survey once again highlights the resilience of Rotorua businesses. Since the March survey, a high proportion of participants have progressed [their] business strategies, built team culture and developed policies for carbon emissions and inclusion of Māori culture.”
Key findings
- Business confidence across most indicators is positive, with confidence in achieving profitability growing strongly to reach double digits for the first time and, with inflation easing, the affordability of doing business continues to improve
- More than 25% of respondents are most positive about their organisational culture, and 25% about their business strategy. Almost half of the respondents commented that they were positive about a strong summer tourism season
- Geopolitical instability, including tensions in the Middle East and the possibility of tariffs being imposed by the USA, was listed as the second-ranked challenge after finding skilled workers Businesses are increasingly likely to have policies for reducing carbon emissions and to incorporate Māori cultural elements into their business
- A perception that Rotorua has a poor reputation and lack of quality housing are key barriers in attracting talent to Rotorua. Almost half of the respondents rated Rotorua schools as ‘good’, however one fifth of parents with intermediate to high school-aged children send them to integrated or private schools outside the district
- The most common theme of final, unprompted comments was ‘airport travel issues’.
Respondents who expanded on this noted issues they face in using Rotorua Airport for business travel as: poor schedule times, frequent cancellations and prohibitive costs
The latest Business Pulse Report is accessible in full online via www.rotoruanz.com.
