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

 


Auckland Airport forecasts $19B worth of tourism by 2025

Auckland Airport forecasts $19 billion worth of tourism by 2025

By Suze Metherell

May 16 (BusinessDesk) – Auckland International Airport, the nation's busiest gateway, is targeting 6 percent growth in visitor arrivals by 2025, worth up to $19 billion to New Zealand's tourism industry by tapping into Asia's growing travel market.

The "ambitious" target will see annual growth in international visitors between 3.6 percent and 5.6 percent, to reach 5.2 million visitors by 2025, the airport said in a statement coinciding with the airport's Asia Summit conference on tourism from the region in Auckland today.

Organic growth projects arrivals at 4.1 million visitors.

"What Auckland Airport is trying to do is stretch the industry," Lily Choi-Lee, general manager of TravConsult who emceed the conference told BusinessDesk. "What Auckland Airport has realized is they can't just passively wait for everyone else to do the work to get the tourists here."

The airport is targeting the growing Asian middle class, especially Chinese tourists and yesterday announced an increase in daily direct flights to Guangzhou by China Southern Airlines from 10 to 14 per week in the summer high season. The airline started flying three times a week to Auckland in April 2011.

The increase, using a Boeing 787 Dreamliner, is estimated to add 40,000 seats and $43 million to the New Zealand industry. The route first launched three years ago at three flights a week.

The airport says Indonesian arrivals are set to grow the fastest, rising at a compound average growth rate (CAGR) of 13.5 percent to a projected 62,457 as the economy grows. Argentina, Brazil and Chile will collectively grow CAGR 15.1 percent to take 2.2 percent market share in 2025.

Australia will remain the dominant source of visitors because of its proximity and relative economic strength, said chief executive Adrian Littlewood. However the trans-Tasman visitor market share will drop to 38 percent from its current 45 percent as Asian visitors grow.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Genetics: New Heat Tolerant Cow Developed

Hamilton, New Zealand-based Dairy Solutionz Ltd has led an expert genetics team to develop a new dairy cow breed conditioned to thrive in lower elevation tropical climates and achieve high milk production under heat stress. More>>

Fractals: Thousands More Business Cards Needed To Build Giant Sponge

New Zealand is taking part in a global event this weekend to build a Menger Sponge using 15 million business cards but local organisers say they are thousands of business cards short. More>>

Scoop Business: NZ Net Migration Rises To Annual Record In September

New Zealand’s annual net migration rose to a record in September, beating government forecasts, as the inflow was spurred by student arrivals from India and Kiwis returning home from Australia. More>>

ALSO:

Scoop Business: Fletcher To Close Its Christchurch Insulation Plant, Cut 29 Jobs

Fletcher Building, New Zealand’s largest listed company, will close its Christchurch insulation factory, as it consolidates its Tasman Insulations operations in a “highly competitive market”. More>>

ALSO:

Scoop Business: Novartis Adds Nine New Treatments Under Pharmac Deal

Novartis New Zealand, the local unit of the global pharmaceuticals firm, has added nine new treatments in a far-ranging agreement with government drug buying agency, Pharmac. More>>

ALSO:

Crown Accounts: English Wary On Tax Take, Could Threaten Surplus

Finance Minister Bill English is warning the tax take may come in below forecast in the current financial year, as figures released today confirm it was short by nearly $1 billion in the year to June 30 and English warned of the potential impact of slumping receipts from agricultural exports. More>>

ALSO:

Auckland Outage: Power Mostly Restored Overnight

Vector wishes to advise that all but 324 customers have been restored overnight. These customers are spread throughout the network in small pockets. The main St Johns feeder was restored around midnight allowing most of the customers in all affected areas to have power this morning. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand

Mosh Social Media
 
More RSS  RSS
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news