A first-of-its-kind prosperity tracker that provides an up-to-date snapshot of national wellbeing and business health daily, called New Zealand Prosperity Live, has been launched by Professor Christoph Schumacher from Te Kunenga ki Pūrehuroa Massey University.
The university says in a statement that Schumacher, from the School of Accountancy, Economics and Finance, also co-created the globally recognised GDPLive. The Professor in Innovation and Economics says the goal of New Zealand Prosperity Live is to redefine “how we measure success” in Aotearoa New Zealand.
“GDP is important, but prosperity is about so much more than just economic growth. Prosperity Live allows us to track whether New Zealand is flourishing across multiple dimensions — it’s a living, breathing measure of how we’re doing as a nation.”
The platform combines real-time data and artificial intelligence to measure eight key dimensions of individual prosperity: education, health, income, housing, employment, safety, social wellbeing and work-life balance.
It also tracks five dimensions of business prosperity: financial strength, innovation capacity, workforce health, resilience to shocks and contributions to sustainability.
This tool gives decision-makers from policymakers to business leaders, an up-to-date understanding of how people and businesses are faring…
“This tool gives decision-makers from policymakers to business leaders, an up-to-date understanding of how people and businesses are faring. Instead of waiting months for data, they can respond to what’s happening now,” he adds.
Massey says New Zealand Prosperity Live is available now, offering free access to anyone interested in understanding how prosperity is changing over time. Users can explore trends, compare dimensions and gain insights into where the country is thriving and where challenges remain. See New Zealand Prosperity Live.
Schumacher presented Prosperity Live and GDPLive to the European Central Bank earlier this month, “highlighting the international relevance of Massey’s work in creating real-time measures of economic and social wellbeing,” the university says.
Foodstuffs North Island chief executive Chris Quin supports the initiative and hosted the launch. He says the tool has the potential to make a real difference.
“At Foodstuffs, we know that timely data helps us make better decisions. It’s great to see that same principle now being applied at a national level through Prosperity Live.
“This platform gives leaders across business, government and the community the information they need to understand how New Zealand is really doing and where we can focus our efforts for the greatest impact,” he says.
