Coronavirus: 12,400 job losses in Auckland CBD, report predicts
Business in Auckland CBD could suffer more than 12,400 job losses by March 2021 due to the impact of coronavirus, a report predicts.
The report, by independent economists Strateg.Ease, said it could take at least two years for business in the city centre to recover from the effects of Covid-19.
It also predicted a loss of $3.1 billion of gross domestic product (GDP) - the market value of goods produced in the city.
The outlook was "significantly worse" than the Global Financial Crisis of 2007/8, when jobs fell by 4400, the report stated.
"Tourism, hospitality, entertainment, arts and culture and retail - the businesses that give the heart of our city its vitality and distinct character - are amongst the worst affected," said Heart of the City chief executive Viv Beck.
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Giant toybox, 18-metre tree and festive joy from 'square to square' sprinkle the magic
Ready to feel the magic in the heart of the city? ✨ With 22 days of celebrations, the city centre is buzzing with holiday cheer!
🎁 A giant toybox lighting up Aotea Square
🎄 An 18-metre Christmas tree dazzling at Te Komititanga
🎶 Live music, markets, and so much more!
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