10 WAIKATO BUSINESS NEWS JANUARY <strong>2024</strong> Migration statistics – what are they and what do they mean? There is much hype every month about New Zealand’s net migration numbers and what these mean for the country. In the year to October 2023 New Zealand recorded a net migration gain of <strong>12</strong>8,900 people. This figure is calculated from migrant arrivals of 245,600, less migrant departures of 116,700. For the purposes of these calculations a “migrant” is a person who states on their arrival or departure card that they intend to stay in, or leave, New Zealand for <strong>12</strong> months or more. This figure should not be confused with normal tourism for which there were 226,000 arrivals in the October month alone. Within the year to October some 71,000 New Zealand citizens left long term, while 26,500 returned from an extended absence, meaning a net loss of 44,500 New Zealand citizens for the year (and a new record!). The non-NZ citizen migrant arrivals comprised 87,000 work visa holders, 60,000 on visitor visas, 32,000 on student visas, and 30,000 on resident visas. These statistics can be further broken down – the work visa total also includes working holiday visa holders (which could make up one third or more of the total) and also the partners of work and student visa holders. It is difficult to reconcile the visitor visa number as visitor visas are normally only issued for 3 or 6 month stays, and the only explanation for this high number is these visas are for family members of work or student visa holders. The student visa total is mainly international students but will also include children of work and student visa holders. Most of the resident visa holders will be migrants who already live in New Zealand and are Advertorial returning from overseas holidays so their “impact” should be largely ignored. The main source countries of these arrivals were India (48,000), Philippines (35,000), China (27,000), Fiji (10,000), South Africa (9,000), Australia (7,000) and the UK, USA and Sri Lanka (all at around 6,000). The new Government has raised concerns at the current high level of net migration and indicated it would like to see migration more directly linked to the filling of skills shortages. The fact that 60% of AEWV approvals are for the lowest skilled roles may also be a concern. We are seeing the face of many workplaces change forever due to the recent surge in international migration - take for example the health and aged care sectors, and even within the corrections workforce. However, this surge is not unique to New Zealand with Australia having experienced a net annual migration gain of 500,000 people. The challenge, we believe, is for the Government to attract and retain the migrants that the country most desires for the medium to long term, and to be forward thinking and transparent in such policy planning. Implementing policies “on-the-fly” in reaction to existing demands should only be considered sparingly and not as the norm, which has been increasingly the case over recent years. It is important that migrants are not “encouraged” to come to New Zealand with unrealistic and unachievable expectations as this can only lead to disappointment, and even more migrants being open to exploitation. The current high levels of net migration will, unfortunately, only lead to such outcomes for many of the migrants who have arrived in the last year. Migration is not a topic within the Government’s 100 day plan – but it should be, based on the current migration statistics! TECH TALK The next frontier By DAMIAN BARTOLOMUCCI Growing up in the eighties and nineties, I was a silent Star Trek Next Generation Trekkie. I watched the show every day, played the video games, and dreamed of one day having a holodeck that could turn imagination into a virtual or augmented reality. In the nearly 30 years since the 1994 series finale, we haven’t yet evolved to a headset/ device free augmented state of interaction but we’re getting pretty close and the healthcare, defence and manufacturing industries are already seeing the benefits. In 2021, the National Library of Medicine published the results on the first use of virtual reality (VR) for simulation in the paediatric cardiac intensive care unit. Simulation continues to be a key component of training in the paediatric space and the intention of this project was to build on the simulation training opportunities for medical staff through the use of VR. According to the findings of the study, two thirds of the doctors agreed or strongly agreed that the VR experience felt realistic, and all agreed that the clinical scenarios were realistic and representative of real-life situations and nearly all agreed it could be useful for education. The defence industry is experiencing similar benefits and the potential for AR/ VR technologies is immense; particularly as the cost of getting it wrong in defence mechanics is exorbitant and the cost of getting it wrong with people is priceless. Simulation in the defence industry can range from an interactive repair scenario in an engine room, to defusing landmines, to addressing the mechanical needs of a water filtration system, to driving simulations across varying terrain. Recently, the Royal New Zealand Navy contracted Company-X to build a flight deck officer training simulation. For its project, Company-X will use virtual reality headsets and AI to train flight deck officers how to land helicopters safely and efficiently on a frigate. With money, processes and people via health and safety at risk, in the manufacturing space, VR training is moving from “discretionary spend” to “core.” In North America, Virtual Reality simulations in the automobile manufacturing space is already an industry norm. Major auto manufacturers like Ford and Hyundai are using VR tools to design new YOUR BUSINESS How to expand internationally By JOSH MOORE <strong>Waikato</strong> has a long history of birthing innovative companies that take on the world. Whether it be a small ecommerce store selling its unique product around the world, or a large multinational corporate with its head office in Hamilton, selling internationally is great for our country and our region. Exports bring in export dollars, which we need to grow our economy and help our country thrive. If your company is already selling internationally and wants to grow further, or if you want start selling internationally for the first time, digital marketing is a very useful tool for expanding your international sales. One of our clients sells cranes and custom-made truck trailers into the Australian market. These are big expensive items, with some tough competition. We use Google Ads and Search Engine Optimisation (SEO) to get their products in front of potential Australian buyers. Often customers looking for those products will take a long time in the “consideration” phase before they are ready to make contact. Digital marketing can help there too. To grow awareness of their brand, we run remarketing campaigns. This means that people who have visited their website start to see ads for this company on YouTube and millions of other sites, like news sites, blog sites and social media. This builds stronger brand awareness and increases the perceived influence of the company. Users can think, “These guys are advertising everywhere!”, but the truth is, they are seeing the ads because they visited the website. In addition, to help the sales team become aware of leads earlier in the buying cycle, we created a downloadable information pack on their website. Website visitors who are not ready to make contact are often in information gathering mode, so downloading a detailed information pack can be attractive. Before downloading the user needs to enter their name and email. This gives the sales team insight into which companies are interested in their product, which they can turn into sales conversations. Alternatively, at the small vehicles and parts and Hyundai has integrated its capability into the into its design review systems to review all steps of the design and modelling process. Educational institutions are also contributing to this surge. In the Asia/Pacific region, excluding Japan, AR/VR spending is projected to skyrocket, with a compounded annual growth rate of 42.4 per cent from 2021 to 2026, aiming to reach $16.6 billion by 2026. Notably, training has emerged as one of the top three investment priorities, highlighting its importance in the adoption of AR/VR technologies. As these technologies become more consumerfriendly and integrated into enterprise strategies, they are poised to redefine the landscape of training within the healthcare, defence, and manufacturing sectors and, with advanced and scalable VR development operations like Company-X, the South Pacific is primed to be a world leader in the space. • Damian Bartolomucci is sales and marketing manager at Company-X. end of the scale, innovative ecommerce products or software products can achieve worldwide reach with savvy digital marketing. If people are searching for what you offer, or are searching for competitor’s products, you can use Google Ads to insert your product into the conversation. If people aren’t searching online for what you offer, then social media ads or email outreach are a good way to get in front of potential buyers. For most companies a combination of advertising is best. We work with a small company in Hamilton that sells an innovative tennis product around the world. For their marketing we use a combination of Google Ads, SEO and Facebook/ Instagram ads. The return on investment can be measured for each channel, and together the campaigns enable them to sell products globally. If you’re wanting to grow international sales in <strong>2024</strong>, explore how digital marketing can be part of your strategy. • Josh Moore is the Managing Director at digital marketing agency Duoplus.
JANUARY <strong>2024</strong> WAIKATO BUSINESS NEWS 11 ey Toyota whats u with your used car benefits? We've just upped everything to 5 years. TOYOTA CERTIFIED 5 YEARS HYBRID BATTERY WARRANTY + 5 YEARS WARRANTY + 5 YEARS FREE WOF CHECKS + 5 YEARS AA ROADSERVICE Toyota Certified HAMILTON 5 Kahu Crescent, Te Rapa Park Hamilton, 07 838 0499 MORRINSVILLE 85 Avenue Road North Morrinsville, 07 889 7678 TE AWAMUTU 29 Kihikihi Road Te Awamutu, 07 872 0017 Warranty, AA Roadservice, WOF Checks and Hybrid Battery Warranty available on Toyota Certified hybrid vehicles imported by Toyota New Zealand that have been first registered overseas, excluding vehicles used for fare or reward, rental, and vehicles owned by businesses and travelling more than 40,000km per year. See Toyota.co.nz for terms, conditions and exclusions.
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