Christchurch is a vibrant city with a heritage heart. The city is the gateway to the South Island, and the economy is linked to other southern regions. While it has faced tragic events, the government and the people have been rebuilding the city with creativity and innovation in mind. As rebuilding efforts come to an end, they reveal a modern, sustainable city with a growing economy built around key industries that include tech, manufacturing and food production.
Manufacturing
Christchurch is the second-largest manufacturing centre in New Zealand. Many New Zealand brands, including Skope and Tait Communications, have their headquarters in the region. Multinationals like Hewlett Packard Enterprise also have operations in Christchurch. Overall, manufacturing accounts for 12 percent of Christchurch’s GDP.
Christchurch is known for manufacturing machinery and equipment, fabricated metal products, and polymer and rubber products. The rebuilding of Christchurch has impacted the industry, and construction consumables and concrete manufacturing have grown in the years since the earthquakes.
The City of Christchurch is taking steps to support manufacturing through initiatives to increase productivity and develop new products. The region is being encouraged to manufacture new devices such as wearable digital technology, and the Christchurch Development Corporation’s Amplifier programme offers support to businesses with high growth potential.
Food and Agriculture
The manufacturing industry and the food industry overlap, with food and beverage production the largest part of the region’s manufacturing sector. This fits well with the South Island’s strong agricultural industry. It’s easy for primary producers in Nelson and Otago to transport their wares to Christchurch, where value is added by transforming hops into beer and fruits into jam.
Primary production remains a staple industry in the South Island. Otago is known for its stone fruits and, increasingly, its grapevines. Port Nelson remains the largest fishing port in Australasia, and the area also produces fruit and vegetables.
FOODSOUTH, the South Island hub of the New Zealand Food Innovation Network, provides equipment and space for businesses to try new equipment, develop prototypes and test quality systems. Some segments of the processed food sector are seeing 30 per cent growth annually, and the industry will remain one to watch in the years to come.
Tourism and Events
Christchurch’s tourism industry took a hit after the earthquakes, with international visitor numbers falling by 46 percent in the following years. Despite this, Christchurch airport remained the gateway to popular South Island tourism spots including Aoraki/Mount Cook, the Milford Sound and the Mt. Hutt ski field.
The city is making a concerted effort to grow tourist numbers. It is emphasising its proximity to Antarctica with museums and exhibits to encourage potential travellers to the southern continent. The city is also promoting events designed to bring visitors, including the Great Kiwi Beer Festival and the Christchurch Arts Festival. The creative post-earthquake rebuild has also resulted in development of new tourist attractions, for example, the Avon River Precinct, a riverfront promenade for walking and cycling.
Information Technology
Christchurch is the third-largest region for information technology in the country. The region has a reputation for world-class IT innovation. Technology professionals in Christchurch are known for being flexible and entrepreneurial, and for developing products to meet niche markets, among them gaming, the health and medical industry, and agricultural tech.
Hubs like Canterbury Tech allow business owners with creative ideas to connect, collaborate and build innovative new products. Historically, Christchurch has outperformed average New Zealand growth in the tech sector. As tech is the fastest-growing sector in the country, Christchurch can expect to see the industry continue to bolster the economy and to draw bright minds and new businesses to the city.
There are many other hot industries in Christchurch and the South Island for businesses to explore, among them biotechnology, avionics and Antarctic research. Business owners in the region have growing opportunities to make their businesses a success, no matter their industry of choice.
LINK Business Brokers Christchurch and South Island has helped countless local business owners buy and sell their companies over the years. We have a full team of experienced business brokers in our office, one of many offices we have around the world. If you are thinking about selling a business in the Christchurch and South Island area, contact our team today to discuss your options.
