Positive signs of hard-hit regions recovering from pandemic pain
Otago’s tourist hub, Queenstown, suffered while the country’s borders were closed, barring international tourists.
Photo: 123 RF
New data suggests Otago is recovering from the economic fallout of the Covid-19 pandemic.
The region was one of the hardest-hit areas of the country when the border closed in March 2020, especially in tourist mecca Queenstown.
But data from accounting software company Xero suggests the region is recovering.
In September, SME employment increased by 4.5% year-on-year and SME wages increased by 5.5%.
Bridget Snelling, Country Manager of Xero New Zealand, said SME sales increased by 5.3%.
“This growth may reflect that small businesses are raising prices to cover rising costs. It’s strengthening the local economy and is a promising sign for small businesses across Otago,” she said.
“It’s great to see the region’s small business economy maintaining solid sales and employment growth as inflation continues to affect New Zealand businesses and families across the country.”
Data were compiled from regional anonymized and aggregated SME data.
https://www.rnz.co.nz/news/business/479085/positive-signs-hard-hit-region-bouncing-back-from-pandemic-pain Positive signs of hard-hit regions recovering from pandemic pain
