Economy
Most major international corporations have an Auckland office, as the city is the economic capital of the nation. The most expensive office space is around lower Queen Street and the Viaduct Basin in the Auckland CBD, where many financial and business services are located, which make up a large percentage of the CBD economy. A large proportion of the technical and trades workforce is based in the industrial zones of South Auckland.
The largest commercial and industrial areas of Greater Auckland are in the southeast of Auckland City and the western parts of Manukau City, mostly bordering the Manukau Harbour and the Tamaki River estuary.
The sub-national GDP of the Auckland region was estimated at US$47.6 billion in 2003, 36% of New Zealand's national GDP, 15% greater than the entire South Island.
Auckland's status as the largest commercial centre of the country reflects in the high median personal income (per working person, per year) which was NZ$44,304 (approx. US$33,000) for the region in 2005, with jobs in the Auckland CBD often earning more. The median personal income (for all persons older than 15 years of age, per year) was NZ$22,300 (2001), behind only North Shore City (also part of the Greater Auckland area) and Wellington. While office workers still account for a large part of Auckland's commuters, large office developments in other parts of the city, for example in Takapuna or Albany, both on the North Shore, are slowly becoming more common, reducing concentration on the Auckland CBD somewhat.
Read more about this topic: Auckland
Famous quotes containing the word economy:
“Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.”
—Ralph Waldo Emerson (1803–1882)
“Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind—no matter how ultimately profitable or otherwise successful some of them might prove to be—there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.”
—Jane Jacobs (b. 1916)
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)