Across New Zealand, Auckland has been named the top tech export with the Regional Technology Investment Network (TIN) Report revealing the industry has grown five times faster than the general Auckland economy over the past five years.
The 2022 Auckland Tech Insights report commissioned by Tātaki Auckland Unlimited looked at 112 Auckland-based tech companies, their revenues and their exports.
In Auckland alone, tech exporters have been a result of the fast growth, high wage and high productivity economy and exports from Auckland tech companies are projected to reach $11.8 billion by 2027.
It is reported that since 2018, Auckland’s top tech companies have grown at five times the pace of the general Auckland economy.
In 2022 alone, company revenue for the top tech company in Auckland has exceeded $8 billion and is projected for $13.5 billion in five years’ time.
The report says that Auckland’s top tech companies has the potential to support the “greater productivity, prosperity and wellbeing” for the city.
Around 1300 tech jobs were created in 2022, three times the rate of the general Auckland economy and delivered around $1.4 billion in wages into the local economy.
On average, a top Auckland tech company wage is $88,680, 17 percent higher than the average wage of the city.
“Tāmaki Makaurau Auckland’s leading tech companies are a force multiplier for the regional economy — the industry is delivering top-salary job growth alongside high productivity for every tech job created,” says Marissa Brindley, Head of Tech, Economy and Skills at Tātaki Auckland Unlimited.
“Auckland also remains the epicentre of New Zealand tech exports, making up an impressive 54 percent of total TIN200 revenue.”
Read more: Māori-owned technology companies grow
Brindley adds that there has been a large focus on diversity and skills in the tech field, export and innovation growth and investment as it has been proven towards a successful company.
“These are obviously areas we will be focusing on as it presents opportunities for the region’s people, in particular opening career pathways for rangatahi,” adds Brindley.
Head of Research at TIN, Alex Dickson, says Auckland has been leading the charge in New Zealand’s race to improve productivity and diversify trade.
“Our research shows the region’s tech employees are some of the most productive in the land, helping local tech firms compete successfully in global markets,” says Dickson.
Auckland alone is a “portal” for $6.8 billion of tech-based trade and is an increasing amount by the day.
Finance-tech is by far one of the most successful industries to come out of Auckland, with the space already reaching an international status.
More than 80 percent of Auckland-based tech companies revenues come from outside of Aotearoa, the report reveals.
North America, Australia and Europe are dominant markets for Auckland, contributing 29 percent ($2.4 billion), 22 percent ($1.8 billion) and 14 percent ($1.2 billion) of total revenue respectively.
Auckland exports to Asian countries (excluding China) increased 21 percent ($138 million) in 2022.
Areas such as Howick, Devonport, Takapuna, Waitematā, Maungakiekie-Tāmaki and Kaipātiki are the thriving tech areas in Auckland.
