NZ’s tech sector belt tightening pays off

Fintech maintained pole position as the biggest tech subsector for NZ, driven largely by a strong year for Xero. (Image: Getty)

Ben Moore

Thu, 14 Nov 2024

Efforts to cut spending paid off for New Zealand’s technology sector in a year of healthy revenue growth as job numbers declined.According to the Technology Industry Network’s 2024 TIN200 report, total revenue for NZ’s top 200 tech companies reached $17.95 billion, up $1.28b or 7.7% over 2023.The TIN report noted that this outpaces NZ’s overall economic growth but is below the index's five-year compound annual growth rate (CAGR) of 10.5%.The makeup of the TIN200, the top 200 NZ tech companies by revenue, was relative...

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