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Economy

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Opportunity for tourism to put GDP back on track – TIA
17 Mar 2023   /

Opportunity for tourism to put GDP back on track – TIA

December’s 0.6% GDP slide provides an opportunity for tourism to play an important role in moving back to positive territory, TIA believes.


Tourism recovery boosts transport, economy – Infometrics
22 Feb 2023   /

Tourism recovery boosts transport, economy – Infometrics

The strong recovery of the tourism sector has helped boost the transport sector and wider economy, according to Infometrics’ December 2022 Quarterly Economic Monitor.


Tourism recovery helps give economy “whopping” boost
15 Dec 2022   /

Tourism recovery helps give economy “whopping” boost

The return of international travel has given the economy an unexpected lift, surprising analysts with the strength of activity.


Tourism helps economy rebound, NZ avoids recession
15 Sep 2022  

Tourism helps economy rebound, NZ avoids recession

The return of international visitors has given the country’s economy a boost.


Marlborough visitor spend, guest nights fall…
9 Sep 2022   /

Marlborough visitor spend, guest nights fall…

Marlborough’s local tourism expenditure was down 7.7% in the year to June – more than the 6.6% drop reported nationally, according to Infometrics.


Queenstown seeks economic diversification tenders
5 Aug 2022   /

Queenstown seeks economic diversification tenders

Queenstown Lakes District Council is seeking tenders for the implementation of its District Economic Diversification Plan.


Staffing challenges drive Central NZ business confidence to 16-year low…
20 Jul 2022   /

Staffing challenges drive Central NZ business confidence to 16-year low…

Business confidence has dipped due to the pain of interest rates, finding skilled staff, and rising costs.


…while Canterbury’s tight labour market biggest business barrier
20 Jul 2022   /

…while Canterbury’s tight labour market biggest business barrier

The constrained labour market and lack of overseas workers are the biggest barrier to business, the Quarterly Canterbury Business Survey


Long lead times, recovering market leaves little room to manoeuvre on prices
2 May 2022   /

Long lead times, recovering market leaves little room to manoeuvre on prices

Rising costs are prompting price revisions with little room to manoeuvre in a recovering market for ITOs and suppliers.


Inflation is at a 30-year high but can operators increase their prices?
29 Apr 2022   /

Inflation is at a 30-year high but can operators increase their prices?

The Ticker looks at how tourism businesses are coping with rising costs and whether they can increase prices in a recovering market.


Tourism spend up 16% for Hastings
9 Mar 2022   /

Tourism spend up 16% for Hastings

Despite tourism spend up 16% the city’s events, hospitality and retail sectors still face challenges.


…but it will boost the regions over summer, especially Otago – Westpac
15 Dec 2021   /

…but it will boost the regions over summer, especially Otago – Westpac

Tourism-dependent Otago has suffered from Auckland’s lockdown.


Total credit defaults fall in Nov, but rise in Auckland, Northland
8 Dec 2021  

Total credit defaults fall in Nov, but rise in Auckland, Northland

Credit defaults for businesses overall fell 5% in November compared to last month as the economy recovers heading into summer, according to Centrix.


West Coast shrugs off tourism woes to top economic rankings – ASB
28 Sep 2021   /

West Coast shrugs off tourism woes to top economic rankings – ASB

The West Coast has made a “stunning” return to the top of ASB’s latest measure of regional economic performance. 


Successful Covid elimination will bring economic bounce – ASB
7 Sep 2021   /

Successful Covid elimination will bring economic bounce – ASB

ASB Bank expects the economy to rebound 8% in Q4 if the elimination of Covid-19 in Auckland is successful.


Queenstown launches economic diversification campaign
6 Jul 2021   /

Queenstown launches economic diversification campaign

Queenstown Lakes has launched a campaign to attract business leaders, employers, and talent to the district to help diversify its economy from tourism.


“Massive” north v south divide as tourism struggles – ASB
5 Jul 2021   /

“Massive” north v south divide as tourism struggles – ASB

The divide between the north and south has widened due in part to the latter’s reliance on tourism, says the bank.


NZ could face a ‘two-speed economy’ – BusinessNZ
25 Jun 2021  

NZ could face a ‘two-speed economy’ – BusinessNZ

A recent BusinessNZ Planning Forecast shows gross domestic product figures “holding up well, [but] constraints to growth are rising,” says chief executive Kirk Hope.


Lack of international visitors dragging economy – Westpac
18 May 2021   /

Lack of international visitors dragging economy – Westpac

Bank now predics a recovery in monthly international visitor arrivals around 2024.


Southern tourism still suffering most – Westpac
14 Jan 2021   /

Southern tourism still suffering most – Westpac

But tourism in regions like Hawke’s Bay and Northland has fared better, says the bank.


Tourism, events slump risks $1bn hole for Auckland
12 Nov 2020  

Tourism, events slump risks $1bn hole for Auckland

The $450m hole that Covid-19 has punched in Auckland Council’s finances this year could grow by a further $540m by 2024, says Auckland Council.


Treasury assumes full border opening Jan 2022
17 Sep 2020   /

Treasury assumes full border opening Jan 2022

However, tourism could start recovering from September next year with safe travel corridors possibly open.  


Large scale reopening of borders unlikely any time soon – ASB
7 Sep 2020  

Large scale reopening of borders unlikely any time soon – ASB

Tourism is the most visible casualty from Covid-19 with a “dramatically reduced” likelihood of large scale reopening of New Zealand’s borders.


What a second lockdown could look like for tourism
14 Aug 2020   /

What a second lockdown could look like for tourism

Westpac and NZIER analyse the cost of lockdowns and the impact on hard-hit tourism.


Confidence up but “large economic hole” for tourism – ANZ
10 Jul 2020   /

Confidence up but “large economic hole” for tourism – ANZ

Despite an improvement in business confidence, an inconvenient truth remains – there’s a very large economic hole where tourism used to be.


NZ to suffer bigger hit from international tourism collapse – ASB
1 Jul 2020   /

NZ to suffer bigger hit from international tourism collapse – ASB

New Zealand’s reliance on international tourism will see it suffer more than its major trading partners as the fight against Covid-19 drags on, says ASB.


Confidence slumps in tourism-dependent regions – Westpac
25 Jun 2020   /

Confidence slumps in tourism-dependent regions – Westpac

The impact of Covid-19 on the tourism sector resulted in sharp drops in confidence across most regions that relied heavily on international visitors.


Rough recession for tourism-reliant regions – Westpac
19 Jun 2020   /

Rough recession for tourism-reliant regions – Westpac

Otago’s high exposure to tourism means it is facing the “biggest economic struggle” of the post-lockdown recession.


Hospo, tourism hit hard as GDP suffers worst fall since 1991 – Stats NZ
19 Jun 2020   /

Hospo, tourism hit hard as GDP suffers worst fall since 1991 – Stats NZ

It was the largest quarterly fall since the 2.4% decline in the March 1991 quarter.


Consumer confidence lowest since 2009 – Westpac
17 Jun 2020   /

Consumer confidence lowest since 2009 – Westpac

Consumer confidence is the lowest it has been since 2009, according to the latest Westpac McDermott-Miller Consumer Confidence Index.


250k jobs could go in ‘greatest shock’ in a century – Infometrics
21 May 2020   /

250k jobs could go in ‘greatest shock’ in a century – Infometrics

Tourism and construction dependent regions are most at risk, say the economists.


Bay of Plenty to escape the worst of Covid-19 impacts – report
20 May 2020   /

Bay of Plenty to escape the worst of Covid-19 impacts – report

The Covid-19 crisis may not have as severe an impact on the Bay of Plenty as other parts of New Zealand, says the Bay of Plenty Regional Council.


Former Wayfare boss, TIA chair calls for scrapping of alert levels
7 May 2020   /

Former Wayfare boss, TIA chair calls for scrapping of alert levels

Former Wayfare boss, Richard Lauder, has called for the scrapping of alert levels arguing they were constructed for an upward path into lockdown, not for a move out of lockdown and a restoration of economic activity.


Reserve Bank highlights hit to tourism, prompts calls to ease restrictions
7 May 2020   /

Reserve Bank highlights hit to tourism, prompts calls to ease restrictions

The report’s findings have prompted renewed calls from industry for a loosening of travel restrictions.


NZ’s borders shut for up to a year under new Treasury scenarios
14 Apr 2020   /

NZ’s borders shut for up to a year under new Treasury scenarios

Unemployment could range between 13% – 26% as New Zealand tries to cope with the impact of Covid-19.


Recovery winners will be “those set up to thrive in challenging environment” – ASB
7 Apr 2020   /

Recovery winners will be “those set up to thrive in challenging environment” – ASB

Prepare for a “tumultuous” year ahead with the winners being “those that are set up to thrive in a challenging environment”, says ASB.


Business confidence plunges in March – ANZ
1 Apr 2020   /

Business confidence plunges in March – ANZ

Business confidence plunged over the second half of March as the Covid-19 outbreak become a global pandemic, says ANZ.


Long haul for tourism as coronavirus could cost 200k jobs – banks
30 Mar 2020   /

Long haul for tourism as coronavirus could cost 200k jobs – banks

Tourism is in for a long haul back to pre-pandemic levels with the outbreak costing around 200,000 jobs, according to the country’s banks.


Tourism puts NZ near top of worst affected economies – OECD
30 Mar 2020   /

Tourism puts NZ near top of worst affected economies – OECD

New Zealand could suffer one of the worst contractions in economic activity due to the Covid-19 lockdown, according to a new report.


Reserve Bank moves to stimulate economy
16 Mar 2020  

Reserve Bank moves to stimulate economy

The Reserve Bank has lowered Official Cash Rate is 0.25% from 1%, and it will remain at this level for at least the next 12 months.


Business confidence falls to GFC lows – ANZ
11 Mar 2020  

Business confidence falls to GFC lows – ANZ

Business confidence fell in March to levels not seen since the 2008 Global Financial Crisis, according to the latest ANZ Business Outlook report. 


Tourism now West Coast’s biggest earner – Infometrics
7 Feb 2020   /

Tourism now West Coast’s biggest earner – Infometrics

Tourism is now the West Coast’s biggest earner, according to economic consultants Infometrics.


Higher airfares boost inflation
27 Jan 2020   /

Higher airfares boost inflation

Rising prices for both international and domestic airfares were one of the main drivers behind a 0.5% increase to the consumer price index (CPI) in the December quarter, according to Stats NZ.


Regions reliant on tourism see slower growth – Westpac
16 Jan 2020   /

Regions reliant on tourism see slower growth – Westpac

Many of the country’s tourist hotspots have seen weak growth in visitor spending, says the bank.


Treasury: Easing tourism contributes to slower, yet solid, growth
12 Dec 2019  

Treasury: Easing tourism contributes to slower, yet solid, growth

The New Zealand economy is experiencing a period of slower, but still solid, economic growth, according to Treasury’s 2019 half year economic and fiscal update.


Visitor slowdown to hit Otago’s Central Lakes hardest
28 Jun 2019   /

Visitor slowdown to hit Otago’s Central Lakes hardest

The performance of tourism is “a concern for the region”, says Westpac.


Visitor market bucks slowing economy in Christchurch and Canterbury
21 May 2019   /

Visitor market bucks slowing economy in Christchurch and Canterbury

Strong growth in spending has outstripped the increase in visitor arrivals.


Deloitte: Tourism can add $11.5bn between 2019-40
3 May 2019   /

Deloitte: Tourism can add $11.5bn between 2019-40

The potential of the sector in five of the country’s regions is highlighted in a new report.


Westpac puts NZ tourism in focus
5 Mar 2019   /

Westpac puts NZ tourism in focus

The sector is slowing but there are some bright spots, says the bank in its latest regional roundup.


WTTC: Global travel and tourism grows to $13 trillion
1 Mar 2019   /

WTTC: Global travel and tourism grows to $13 trillion

The world’s travel and tourism sector grew by 3.9% last year, second only to manufacturing, says a new report.