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

 


Tourism industry aims to outdo forecast

5 September 2014

Media Release

Tourism industry aims to outdo forecast
Performance

The tourism industry is aiming to outperform the government’s tourism forecasts released today, to cement its position as one of New Zealand’s biggest export sectors, the Tourism Industry Association New Zealand (TIA) says.

TIA Chief Executive Chris Roberts says the five-year forecasts are a prediction of likely visitor numbers and visitor spend in a business as usual approach.

“The tourism industry has signalled through the Tourism 2025 growth framework that by aligning our efforts we can do much better than BAU,” Mr Roberts says.

“Our challenge is to treat these Ministry of Business, Innovation and Employment forecasts as a minimum target and then to take action which drives even greater returns for the industry and our individual operators.”

The Tourism 2025 growth framework identifies a range of opportunities to grow tourism’s contribution to the economy. The focus is on growing volume, but growing value faster.

The new forecasts reinforce the Tourism 2025 view that some of the greatest opportunities for New Zealand’s tourism industry lie within the Pacific Rim, most obviously within the rapidly growing Chinese market but potentially also with other Asian visitor markets like India and Indonesia.

“The forecasts predict an impressive 132% lift in spend by visitors from China out to 2020.

This provides the industry with a sound platform to lift this performance through Tourism 2025 initiatives such as better targeting and attracting high value Chinese visitors,” Mr Roberts says.

“There are several event-specific opportunities during the five-year period of the forecasts for the industry to capitalise on. The first of these is the Cricket World Cup early next year, especially for those markets which can take advantage of the new single visa that can be used by visitors to Australia and New Zealand during the tournament. The 2015 FIFA under-20 World Cup and the 2017 World Masters Games also offer excellent opportunities.”

It is also great to see the positive outlook for traditional visitor markets like the USA and Germany as their home economies improve, he says.

TIA will be working with its members and the government to achieve the Tourism 2025 targets. The recently released 2014 Tourism Election Manifesto highlights a set of priority actions for the incoming Government to support tourism value growth.


Key Facts
• Tourism is one of New Zealand’s biggest export industries, earning $9.8 billion or 16.1% of New Zealand’s foreign exchange earnings (year ended March 2013)
• Tourism directly and indirectly contributes almost 9% of gross domestic product (GDP)for New Zealand
• Tourism directly and indirectly generates 8.8% of total employment in New Zealand or 172,100 full-time equivalent jobs
• Tourism in New Zealand is a $65.5 million per day industry. Tourism delivers $26.8million in foreign exchange to the New Zealand economy each day of the year. Domestic tourism contributes another $38.9 million in economic activity every day
• Total tourism expenditure reached $23.9 billion for the year ended March 2013
Visit www.tianz.org.nz for more information.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: NZ Dollar Falls To 3-Year Low As Investors Favour Greenback

The New Zealand dollar fell to its lowest in more than three years as investors sold euro and bought US dollars, weakening other currencies against the greenback. More>>

ALSO:

Scoop Business: NZ Govt Operating Deficit Smaller Than Expected

The New Zealand’s government’s operating deficit was smaller than expected in the first five months of the financial year as a clampdown on expenditure managed to offset a shortfall in the tax-take from last month’s forecast. More>>

ALSO:

0.8 Percent Annually:
NZ Inflation Falls Below RBNZ's Target

New Zealand's annual pace of inflation slowed to below the Reserve Bank's target band in the final three months of the year, giving governor Graeme Wheeler more room to keep the benchmark interest rate lower for longer.More>>

ALSO:

NASA, NOAA: Find 2014 Warmest Year In Modern Record

Since 1880, Earth’s average surface temperature has warmed by about 1.4 degrees Fahrenheit (0.8 degrees Celsius), a trend that is largely driven by the increase in carbon dioxide and other human emissions into the planet’s atmosphere. The majority of that warming has occurred in the past three decades. More>>

ALSO:

Scoop Business: New Zealand’s Reserve Bank Named Central Bank Of The Year

The Reserve Bank of New Zealand’s efforts to stifle house price inflation by using new policy tools has seen the institution named Central Bank of the year by Central Banking Publications, a publisher specialising in global central banking practice. More>>

ALSO:

Science Media Centre: Viral Science And Another 'Big Dry'?

"Potentially, if there is no significant rainfall for the next month or so, we could be heading into one of the worst nation-wide droughts we’ve seen for some time," warns NIWA principal climate scientist Dr Andrew Tait. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news