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

 

Forecast of robust growth to 2020 welcomed

For immediate release
Friday 5 September, 2014

Forecast of robust growth to 2020 welcomed

Tourism New Zealand has today welcomed the release of new industry forecasts by the Ministry of Business, Innovation and Employment, and of the growth they predict.

Chief Executive Kevin Bowler says the forecasts are a valuable tool for the industry to check that their focus is on the right markets and to help prepare for the future. With the growth being predicted, tourism operators will take away the message that now is likely to be a good time to invest in their businesses to either grow capacity or refurbish existing product.

“The forecasts are predicting robust growth out to 2020 from both advanced and emerging markets, which will be welcome news for the tourism industry on the back of a very successful past two years.

“Tourism New Zealand is continuing to direct its efforts on the same advanced and emerging markets that are shown to be the drivers of growth in these forecasts.

“As the global economic outlook continues to improve and a growing middle-class seek more and more tourism experiences, we are well on the way toward achieving the Tourism 2025 aspirational target of $41 billion total tourism revenue by 2025. International visitor spend in New Zealand lifted 11 per cent in the twelve months to end June 2014, well above the 6 per cent run-rate required to hit the Tourism 2025 target.

“Of course, the global environment is unpredictable and the industry should continue to think in terms of the forecasts being a mid-point; with potential up-side opportunity and down-side risk.

“Tourism New Zealand will continue to focus its efforts on overcoming the challenges that appear and realising the opportunities available to increase the value of the international visitor to the New Zealand industry,’ he says.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Crown Accounts: Slightly Softer Growth Expected In PREFU

A slightly softer growth forecast is the main feature of largely unchanged Pre-election Fiscal Update compared to the Budget forecasts three months ago, Finance Minister Steven Joyce says. More>>

ALSO:

Water: Farming Leaders Pledge To Help Make Rivers Swimmable

In a first for the country, farming leaders have pledged to work together to help make New Zealand’s rivers swimmable for future generations. More>>

ALSO:

Unintended Consequences: Liquor Change For Grocery Stores On Tobacco Tax

Changes in the law made to enable grocery stores to continue holding liquor licences to sell alcohol despite increases in tobacco taxes will take effect on 15 September 2017. More>>

Back Again: Government Approves TPP11 Mandate

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>

ALSO:

By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>

ALSO: