With an asset base of $23 billion, Auckland Māori entities and businesses hold over half the national Māori economy’s total asset base reveals The Auckland Māori Economy – Size, issues and opportunities report.
Commissioned by the Independent Māori Statutory Board (IMSB), the report was completed by well-known economist Shamubeel Eaqub, formerly of the New Zealand Institute of Economic Research (NZIER).
It identifies that improving Auckland Māori participation in study, work and entrepreneurship will deliver significant economic benefits.
The national Māori economy has seen considerable growth since 2010 with a $5.7 billion increase in its asset base. Currently Auckland’s Māori economy is 5 per cent, or $4 billion, of Auckland’s total economy.
The report highlights significant opportunities for further growth. The key opportunities are:
- partnership/investment within Treaty settlements (especially around return of land and first right of refusal of Crown land)
- unlocking and increasing the economic potential of Māori entrepreneurs
- investing in Māori youth – a large, young cohort which represents a significant proportion of Auckland’s future workforce
- investing in fit-for-purpose interventions in south and west Auckland where half of Auckland’s Māori live which are also economically disadvantaged areas
- leveraging Auckland’s unique Māori identity to provide a comparative advantage for all businesses.
The report will be followed with a short series of videos shot and edited by students from tertiary provider AUT.
Due for release in December, the videos will feature Mr Eaqub discussing the report's findings with young Māori.
Additionally, a stage two report is now in progress where NZIER aims to identify the life-stage transitions that have the most impact in closing the gap between Māori incomes and the average Auckland incomes.
Independent Māori Statutory Board Chairman David Taipari says, “A thriving Māori economy equals a thriving Auckland economy, this means opportunities and benefits for all.”