Wellington: In the year to November 2024, New Zealand experienced a record number of people leaving, a trend that reflects growing concerns about the country’s economic difficulties. Statistics New Zealand released data on Thursday revealing that 127,800 people departed the Pacific nation during this period, marking a 28% increase compared to the previous year. This figure represents the highest number of individuals leaving New Zealand in any 12-month period on record, according to the statistics bureau.
Among those leaving, more than half were New Zealand citizens, contributing significantly to the country’s outflow. The exodus follows a period of economic strain for New Zealand, which entered a technical recession in the third quarter of 2024. The nation’s economic struggles have been exacerbated by rising inflation, prompting the central bank to increase the official cash rate in an effort to curb it.
Michael Gordon, senior economist at Westpac, pointed out that many people come to New Zealand seeking work opportunities, and when those opportunities dry up, they tend to leave. He emphasized the impact of employment prospects, particularly in comparison to Australia. “It’s about work opportunities, especially here (New Zealand) versus Australia. Australia’s economy is still running reasonably strongly,” Gordon explained. “There are more opportunities over there now so we are seeing quite high outflows of Kiwis.”
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Despite the outflow, New Zealand’s inward migration continues to provide a counterbalance. According to Statistics New Zealand, net migration—the difference between people moving to New Zealand permanently and those leaving—stood at 30,600 for the year to November 2024. However, this figure pales in comparison to the peak of 135,700 reached in the year ending October 2023.
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Gordon noted that net migration is now returning to historical averages and will likely continue to support New Zealand’s economy in the long term. He also highlighted the global appeal of New Zealand, while acknowledging that countries like Australia, the United States, and the United Kingdom are increasingly attractive options for Kiwis. “For a big chunk of the world, New Zealand is an attractive place to live, but also for us (New Zealanders), there are also places looking more attractive—Australia, the U.S., or the UK,” Gordon said.
