The economic future is Māori

⚫ The Māori asset base in 2023 was $119 Billion up from $69 Billion in 2018 with the largest asset holders being Māori businesses and employers

⚪ Between 2018 - 2023 Māori who are self-employed grew by 50% and Māori employers grew by 31%

🔴 For the first time since 2006, Māori workers now hold more high-skilled jobs then low skilled jobs with a 10% increase in Māori in high-skilled employment between 2018 - 2023

⚫ Real estate, property services and professional services now earn more then agriculture, forestry and fishing

⚪ GDP (gross domestic product) in 2023 was $30 Billion up from $17 Billion in 2018

🔴 For the first time since 2006, Māori household reliance on government assistance has not increased during 2023

⚫ Māori home ownership is still low at 52% in comparison to the 67% for non Māori

So, what does this mean?
1️⃣ The Māori economy is growing faster than anyone had projected
2️⃣ Māori business owners in 2023 were a significantly growing employer
3️⃣ The focus on people and upskilling including kura kaupapa is shifting the towards high skills employment
4️⃣ Being in business is the pathway to increasing wealth and wellbeing including home ownership and reduce reliance on assistance
5️⃣ Although all the economic indicators are heading in the right direction, colonisation has meant that Māori are still playing catch up

Key message from RŌA:
⬛ Education is the long-term game and it doesn't matter how young or old you are

⬜ The strength of Te Ao Māori is still in its collective nature, so during this summer break collectively speak to your whānau and friends about your aspirations then set a collective strategy to achieve it together

🟥 Financial wellbeing, spiritual wellbeing, physical and mental wellbeing all are connected and require equal attention

⬛ Non Māori organisations need to increase their Māori leadership, review their long term strategic priorities and design their technology, products and services around the needs of Māori and how Māori operate. If this investment isn't done now, they will not be employers of choice and their customer base will shrink signficantly

Note: In 2025 BERL and the Ministry of Business, Innovation and Employment will release the full Te Ōhanga Māori report