Trams in New Zealand characterised by inflexible routes and expensive infrastructure maintenance. In Wellington there was significant opposition to the closure of the last tramway system in New Zealand, and the final decision to disestablish the remaining lines followed on a public referendum in 1959. All trolleybus systems in New Zealand have now been closed: Christchurch (1956), New Plymouth (1967), Auckland (1980), Dunedin (1982) and Wellington (2017). Auckland City had a private company operating horse-drawn trams from 1884. The Auckland Electric Tram Company's system was officially opened on 17 November 1902, but public service was delayed because three of the motormen, from Sydney, Australia,
Auckland City as banking and insurance, which were affected by financial crises. However, over the last five years of its existence, Auckland's economic growth averaged 1.4% each year, higher than the average of the region and the nation. In 2003 three of the ten largest companies in New Zealand (Air New Zealand, Fletcher Building, and Foodstuffs) were headquartered in Auckland City. Many large corporations were housed within Auckland CBD, the central part of Auckland City. Air New Zealand has its worldwide headquarters, called "The Hub", off Beaumont and Fanshawe Streets in the Western Reclamation; the airline moved there from the Auckland CBD