28 November 2017 · Absolute IT
The latest Absolute IT Hamilton/Bay of Plenty Regional Report has been released and it is clear that this region is growing and starting to flex its muscles.
The tech sector in Hamilton has grown by double digits, both in size and in revenue. The 2017 TIN100 Report found that over the past year the tech sector here expanded by 10% and is now outpacing Auckland. Not only did the sector get bigger, but Hamilton is also the region with the most tech sector revenue growth over the past year in New Zealand – it is up a staggering 21.7% from 2016.
Another good indicator for the Hamilton region is that Agritech is one of the fastest growing market sectors in New Zealand. Hamilton has a reputation as the tech centre in the Waikato, with strengths in utilities, manufacturing, ICT and in the fast-growing agritech area.
In the Bay of Plenty there has been a steady increase in knowledge intensive businesses and a development of a comprehensive innovation ecosystem in the region. Tauranga’s fast-growing tech sector provides almost 4,000 jobs and $545m to the local economy and its high value manufacturing sector contributes 85% of Tauranga’s tech export revenues. This is a region that continues to punch above its weight economically.
Employers under Pressure
The Hamilton/BoP Regional Report shows that employers are feeling the pressure and state that ‘attracting and retaining IT staff’ is their biggest business challenge for the year ahead and almost a third (29%) state that they find it harder this year to attract IT talent than a year ago.
IT professionals are overall happy with their working conditions, 90% rate their workplace as a good place to be and 94% say that they have above average to average level of work/life balance.