New research released by the Financial Services Council has revealed the true contribution of the broader financial services sector to New Zealand’s economic wellbeing.
The research ‘Towards Prosperity’ carried out by the New Zealand Institute of Economic Research is some of the most comprehensive to date carried out on the sector and demonstrates not just its contribution, but also dispels some common myths.
“Towards Prosperity gives us a unique snapshot of the sector, how it is evolving, diversifying, and growing to reflect its role in New Zealand today”, says Financial Services Council Chief Executive, Richard Klipin.
“It shows that the sector has been the second fastest growing and third largest contributor to New Zealand’s economic growth over the last four decades. It contributed $13.5 billion to GDP last year alone.
Read the media release and the Towards Prosperity report.