Report shows tech sector’s value to NZ economy

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Economic Development Minister Steven Joyce and Communications Minister Amy Adams today, Tuesday 21 June 2016, welcomed a report showing the technology sector’s value to the New Zealand economy.

The report, Digital Nation New Zealand: From Tech Sector to Digital Nation, provides analysis of the nature and size of the technology sector and its impact on the New Zealand economy.

“The technology sector is a vital and rapidly growing part of the New Zealand economy and the information in this report underlines the role the sector is playing in transitioning New Zealand into a leading digital nation,” Mr Joyce says.

“I am pleased to see that the thriving digital sector has been identified as an increasingly important source of growth for GDP and exports. The report also makes a compelling point that each four per cent productivity improvement in the tech sector is estimated to deliver an additional $2.7 billion in GDP.

“This is one of the motivations behind the Government’s Digital Economy Work Programme as part of the Business Growth Agenda, which aims to accelerate the smart use and uptake of technology across all businesses - leading to increased innovation and growth in our exports.”

“The Government’s substantial telecommunications investment helps make all of this happen. The Ultra-Fast Broadband (UFB) and Rural Broadband Initiative (RBI) rollouts mean that more than 1.2 million New Zealanders can now connect to faster and more reliable internet, and make the most of the digital economy,” Ms Adams says.

“By better understanding the sector’s contribution we are well positioned to seize new opportunities and drive forward the next phase of our digital economy. Making the most of the digital economy by encouraging more effective use and uptake of ICT is a key part of the Innovation stream of the BGA.”