Central Otago has the second-best performing economy in New Zealand, according to a report from Business and Economic Research Ltd (Berl).
The district was second to Tauranga city, which Berl found to have a better performance in business unit growth over the past year.
After three consecutive years in the top five rankings, Queenstown Lakes district dropped to eighth, while Waitaki district tied with Mackenzie district in 34th place, Clutha district ranked 41st, and Dunedin city 47th.
Central Otago was also second in last year's report, and Mayor Dr Malcolm Macpherson said the ranking gave assurance to people who were considering investing in the district.
Dr Macpherson said the Central Otago District Council could not improve the district's 33rd ranking for business growth, but council staff, councillors and board members would consider the report and its findings.
"I would not be discouraged by that . . . it means either individual businesses are not growing or we are not generating new business opportunities.
It is possible Berl doesn't include inward investment, such as what we are experiencing in our viticulture industry."
The council was not "directly involved in people's investment decisions", he said.
The report stated Central Otago had the fourth-fastest growth in both population and employment, and the fifth fastest growth in GDP (average growth for the year to December 2007).
Queenstown Lakes district was first in population and business growth, but for employment it ranked 28th and it was 36th for GDP.
The statistics, released yesterday, ranked 72 territorial authorities in New Zealand across four economic indicators: population, employment, business and real value growth (GDP).
The annual data aims to determine the fastest-growing areas within New Zealand and includes the total New Zealand growth as a comparison.
Other territorial authorities in the South are ranked as follows: Christchurch city (27), Invercargill city (30), Southland district (63), Gore district (65).
Dunedin Mayor Peter Chin had not seen the report when contacted last night and declined comment.
