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: Alex Swney Pleads Guilty To $2.5M Fraud Charge

Alex Swney, former chief executive of the Auckland city centre business association Heart of the City, has pleaded guilty to dishonestly using documents to obtain $2.5 million. More>>

ALSO:

Petrol Burns Prices: Second Consecutive Quarterly Fall For CPI

The consumers price index (CPI) fell 0.3 percent in the March 2015 quarter, following a 0.2 percent fall in the December 2014 quarter, Statistics New Zealand said today. The last time the CPI showed two consecutive quarterly falls was in the December 1998 and March 1999 quarters. More>>

ALSO:

Scoop Business: NZ Broadcasters Launch Battle Against Global Mode ISPs

New Zealand broadcasters have confirmed they’ve launched legal proceedings against internet service providers who give customers’ access to “global mode”, which allows customers access to offshore online content, claiming it breaches the local content providers’ copyright. More>>

ALSO:

Sanford: Closure Of Christchurch Mussel Processing Plant Confirmed

The decision comes after a period of consultation with the 232 staff employed at the Riccarton site, who were told on 9 April that Sanford was considering the future of mussel processing in Christchurch. Recent weather patterns had impacted on natural spat (offspring) supply... More>>

ALSO:

Price Of Cheese: Dairy Product Prices Fall To The Lowest This Year

Dairy product prices fell in the latest GlobalDairyTrade auction, hitting the lowest level in the 2015 auctions so far, as prices for milk powder and butter slid amid concern about the outlook for commodities. More>>

ALSO:

Houston, We Have An Air Route: Air New Zealand To Fly Direct To The Heart Of Texas

Air New Zealand will fly its completely refitted Boeing 777-200 aircraft between Auckland and Houston up to five times a week opening up the state of Texas as well as popular nearby tourist states such as Louisiana and Florida. More>>

ALSO:

Scoop Business: Reserve Bank’s Spencer Calls On Govt To Rethink Housing Tax

The Reserve Bank has urged the government to take another look at a capital gains tax on investment in housing, allow increased high-density development and cut red tape for planning consents to address an over-heated Auckland property market. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news