Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Travel & Tourism in New Zealand to grow 2.8% during 2014

19 March 2014

Travel & Tourism in New Zealand to grow 2.8% during 2014

The New Zealand Economic Impact Report underlines the economic and social relevance of the Travel & Tourism industry in New Zealand as well as its potential over the next decade.

In 2013 in New Zealand:
• The total contribution of Travel & Tourism to GDP was NZD29.8bn, (13.8% of GDP).
• The total contribution of Travel & Tourism to employment, including jobs indirectly supported by the sector was 374,793 jobs (16.6% of total employment).
• Travel & Tourism investment was NZD2.0bn, or 4.8% of total investment. It is projected to rise by 7.8% in 2014.

Each year, WTTC undertakes an economic analysis of the impact of the Travel & Tourism sector in 184 countries.

In 2013, globally:
• Travel & Tourism contributed US$7.0trillion to the global economy in 2013 and is expected to grow by 4.3% in 2014.
• The total global contribution of Travel & Tourism to employment, including jobs indirectly supported by the industry was 265,835,000 jobs (8.9% of total employment)--one in 11 of all jobs on the planet.

David Scowsill, President & CEO of WTTC, says 2013 proved another successful year for the sector; “Travel & Tourism’s contribution to the world economy grew for the fourth consecutive year in 2013, helped especially by strong demand from international travellers. Visitor exports, the measure of money spent by these international tourists, rose by 3.9% at a global level year on year, to US$1.3 trillion, and by over 10% within South East Asia. It is clear that the growth in Travel & Tourism demand from emerging markets continues with pace, as the burgeoning middle-classes, especially from Asia and Latin America, are willing and more able than ever to travel both within and beyond their borders.”

However, Mr Scowsill reminds governments that they need to take action; “The outlook for Travel & Tourism for the next ten years looks extremely favourable, with growth forecast of more than 4% annually. This will require Governments to implement more open visa regimes and to adopt intelligent rather than punitive taxation policies. It is also critical that public and private partnerships ensure that long term infrastructure and human resource needs are planned responsibly and sustainably, to absorb the inevitable growth that we are forecasting. If the right steps are taken, Travel & Tourism can be a true force for good.”

The 2014 Economic Impact reports for 184 countries and 24 geographic and economic regions of the world is now available on our website as www.wttc.org/research

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business:
NZ Puts Seven New Oil And Gas Areas Put Up For Tender

A total of seven new areas will be opened up to oil and gas exploration under its block offer tendering system, as the New Zealand government seeks to concentrate activity in a few strategically chosen areas. More>>

ALSO:

Half Full: Dairy Payouts Steady, Cash Will Be Tight

Industry body DairyNZ is advising farmers to focus on strong cashflow management as they look ahead to the 2015-16 season following Fonterra's half-year results announcement today. More>>

ALSO:

First Union: Cotton On Plans To Use “Tea Break” Law

“The Prime Minister reassured New Zealanders that ‘post the passing of this law, will you all of a sudden find thousands of workers who are denied having a tea break? The answer is absolutely not’... Cotton On is proposing to remove tea and meal breaks for workers in its safety sensitive distribution centre. How long before other major chains try and follow suit?” More>>

ALSO:

Scoop Business: NZ-Korea FTA Signed Amid Spying, Lost Sovereignty Claims

A long-awaited free trade agreement between New Zealand and South Korea has been signed in Seoul by Prime Minister John Key and the Korean president, Park Geun-hye. More>>

ALSO:

PM Visit: NZ And Viet Nam Agree Ambitious Trade Target

New Zealand and Viet Nam have agreed an ambitious target of doubling two-way goods and service trade to around $2.2 billion by 2020, Prime Minister John Key has announced. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news