Growing tourism numbers, increased residential construction and good prices on local produce has led to strong economic growth on the Coromandel Peninsula.

The Thames-Coromandel District Council says the district's Gross Domestic Product grew by 4.0 per cent in the year to June – outstripping national economic growth of 3.1 per cent.

The latest Infometrics Quarterly Economic Monitor shows the Coromandel's Gross Domestic Product grew by 4.0 per cent in the year to June. Photo: File

The data was compiled by Infometrics, an independent company that provides economic analysis and forecasts.

Its latest Quarterly Economic Monitor states growth was broad-based across most economic sectors on the Coromandel, despite downturns in international dairy and forestry prices which hit other regions.

TCDC deputy chief executive Ben Day says the report mirrors what they are seeing at council, with strong demand for LIMs, consents, new dwellings and investment inquiries.

'Our economic development strategy is focussing on facilitating economic growth by creating an environment that makes it easy for the private sector to invest here and create jobs.”

The report shows that tourism grew at a healthy pace, helped by low petrol prices and the weaker New Zealand dollar. Guest nights were up by 4 per cent and traffic flow was up by 5.8 per cent.

Residential construction also did well, boosted by low interest rates and the Auckland influx, as people there cash in on the hot real estate market to seek the ultimate lifestyle on the Coromandel.

Seafood, meat and fruit exporters are also receiving favourable world prices.

Unemployment in the Coromandel was also lower than both the Waikato and national rates, at 4.5 per cent, compared to 5.8 per cent for Waikato and 5.7 per cent nationwide.

Ben says the council have several anchor projects that will provide the infrastructure that businesses need to prosper.

Examples of those projects include upgrading of the Kopu business precinct, boosting broadband speeds around the district, and an upgrade of the Coromandel Harbour, which will help aquaculture, tourism and the recreational fishing sectors.

'It's all part of our council's vision of making the Coromandel the most desirable place in the country to live, work and visit,” adds Ben.

The Infometrics report is available on the Thames-Coromandel District Council's website at: www.tcdc.govt.nz/economicdata