PYMNTS Daily Data Dive: Wellington’s 20%

Wellington, New Zealand, has become a hub for successful tech-based startups and social enterprises due to its 20 percent advantage. It is 20 percent easier to launch a tech startup, expand a business or seek innovative investment opportunities in Wellington than elsewhere in the world.

With lower overheads, cost of living and resourcing costs, Wellington is considered to be 20 percent more affordable compared to other global cities.

Wellington has an estimated population of 496,000 with a median income of $49,192 — higher than the national median of $45,760. The city’s unemployment rate of 5.7 percent is lower than other major New Zealand cities, as well as the national average, and maintains the highest concentration of web-based and digital technology firms in the country.

Here are the numbers:

20 percent | Wellington’s advantage — the city is considered to be 20 percent more affordable compared to other global cities

496,000 | Wellington’s estimated population

$49,192 | Wellington’s median income

$45,760 | New Zealand’s overall median income

5.7 percent | Wellington’s unemployment rate, lower than other major cities in New Zealand

#1 | Wellington holds the highest concentration of tech firms in New Zealand