The economic downturn in New Zealand has forced a mass exodus of citizens

(Wellington) High living costs and a deep recession prompted a growing number of New Zealanders to leave last year and seek opportunities overseas.

Figures released by Statistics New Zealand on Monday show the number of people leaving New Zealand increased to 128,705 last year, up from 101,585 in 2023.

Both the rise in departures and the fall in foreign arrivals reflect a weakening Labour market in New Zealand and slower wage growth. New Zealand's economy contracted 2.1 per cent in the six months to September.

While the increase in departures takes pressure off the property market, slowing population growth could also hamper economic recovery, especially as the New Zealand government pursues a pro-growth agenda for the 2026 general election.