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

 

Final Frontier: Rocket Lab And NASA Sign Commercial Space Launch Agreement

Rocket Lab has signed a Commercial Space Launch Act Agreement with the National Aeronautics and Space Administration (NASA). The agreement enables Rocket Lab to use NASA resources - including personnel, facilities and equipment - for launch and reentry efforts. More>>

ALSO:

Scoop Business: Wheeler Downplays Scope For ‘Large’ Rates Fall

Reserve Bank governor Graeme Wheeler says some market commentators are predicting further declines in interest rates that would only make sense for an economy in recession, although some easing is likely to be needed to maintain New Zealand’s economic growth. More>>

ALSO:

Ruataniwha Dam: Consent Conditions Could Mean Reduced Intensity

Legal advice sought by the Hawke’s Bay Regional Council on the Ruataniwha Dam consent conditions has confirmed that farmers who sign up to take water from the dam could be required to reduce the intensity of their farming operation to meet the catchment’s strict nitrogen limit. More>>

Health And Safety: Bill Now Sees Rules Relaxed For Small Businesses

Health and safety law reform sparked by the Pike River coalmine disaster has been reported back from the industrial relations select committee with weakened requirements on small businesses to appoint health and safety representatives and committees. More>>

ALSO:

Bearing Fruit: Annual Fruit Exports Hit $2 Billion For First Time

The value of fruit exported rose 20 percent (up $330 million) for the June 2015 year when compared with the year ended June 2014. Both higher prices and a greater quantity of exports (up 9.0 percent) contributed to the overall rise. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news