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

 

Budget Policy Statement: Spending Wins Over Tax Cuts; Big Ticket Items Get Boost

Income tax cuts are on hold as the government says “responding to the earthquakes and reducing debt are currently of higher priority”, although election year tax sweeteners remain possible. More>>

ALSO:

Fishy: Is Whitebaiting Sustainable?

The whitebait fry - considered a delicacy by many - are the juveniles of five species of galaxiid, four of which are considered threatened or declining. The SMC asked freshwater experts for their views on the sustainability of the whitebait fishery and whether we're doing enough to monitor the five species of galaxiid that make up whitebait. More>>

ALSO:

Crown Accounts: Smaller-Than-Expected Four-Month Deficit

The New Zealand government's accounts recorded a smaller-than-forecast deficit in the first four months of the fiscal year on a higher-than-expected inflow of corporate and goods and services tax. More>>

ALSO:

On For Christmas: KiwiRail Ferries Back In Full Operation After Quake

KiwiRail’s Interislander ferries are back in full operation for the first time since the Kaikoura earthquake, with the railspan that allows rail wagons to be loaded on the Aratere now restored. More>>

ALSO:

Comerce Commission Investigation: Prosecutions Over Steel Mesh Labelling

Steel & Tube Holdings, along with two other companies, will be prosecuted by the Commerce Commission following the regulator's investigation into seismic steel mesh, while Fletcher Building's steel division has been given a warning. More>>

ALSO:

Wine: 20% Of Marlborough Storage Tanks Damaged By Quake

An estimated 20 percent of wine storage tanks in the Marlborough region, the country’s largest wine producing area, have been damaged by the impact of the recent Kaikoura earthquake. More>>

ALSO:

ACC: Levy Recommendations For 2017 – 2019 Period

• For car owners, a 13% reduction in the average Motor Vehicle levy • For businesses, a 10% reduction in the average Work levy, and changes to workplace safety incentive products • For employees, due to an increase in claims volumes and costs, a 3% increase in the Earners’ levy. More>>

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news