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


South Africans to be RWC big spenders, Aussies the cheapest

South Africans tipped as big spenders at RWC, Aussies the cheapest: RBNZ

By Paul McBeth

Aug. 18 (BusinessDesk) – About 14,000 visitors from Africa are expected to be the biggest spenders at the Rugby World Cup when it kicks off next month, while our nearest neighbours will be the cheapest.

The Reserve Bank estimates African visitors, who will largely be South African, will spend an average $8,300 each during the tournament, while 33,000 Australians and others from the Asia-Pacific region will spend about $6,050 a head over the course of the event, according to a note by economist Adam Richardson.

Europeans, mostly Brits and French, will probably spend $8,100 each, making them the second most valuable tourist, while those from the Americas may spend $6,900 each.

The tournament is still expected to swell New Zealand’s coffers by $700 million, a figure first mooted by Reserve Bank Governor Alan Bollard in January. Half of that is tipped to come from the Europeans, followed by $200 million from Asia Pacific, $120 million from Africans, and $30 million from Americans.

Last week, Rugby World Cup 2011 Ltd. chief executive Martin Snedden raised the predicted number of visitors by 10,000 to 95,000, with strong sales across the Tasman underpinning that optimism.

Snedden and RWC Minister Murray McCully are targeting Australian visitors, who they see as having “upside” available.

The tournament is forecast to make bottom-line loss of some $39 million, though that could get whittled down ticket sales beat RWC 2011’s target.

The event organiser has sold $234 million of tickets, and aims to make $268 million. That equates to roughly 1.3 million to 1.35 million tickets of the approximate 1.55 million tickets available.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Energy Resources Aotearoa: Doubling Of Coal Use Shows Need For Local Natural Gas

New figures showing a near doubling of coal-fired electricity generation highlight New Zealand’s energy shortage and the need for natural gas as a lower carbon alternative, according to Energy Resources Aotearoa... More>>

E Tu: ‘Sense Of Mourning’ As Norske Skog Mill Set To Close

Workers at Norske Skog’s Tasman Mill now know they’ll be losing their jobs in little over a month’s time.
On Wednesday afternoon, workers were told the mill will be stopping production from the end of June... More>>

Stats NZ: Card Spending Sees Strong Growth In May

Seasonally adjusted card spending rose by $189 million (2.3 percent) between April 2021 and May 2021, Stats NZ said today.
Spending rose across all industries for the first time since New Zealand moved to level 1 in June 2020... More>>

Auction: 1.4 Million In Rare Vintage Watches, Gems, Jewels & Diamonds Go Under The Hammer At Webb’s

An auction event showcasing over 1.4 Million dollars in rare jewels, gems, diamonds and vintage watches is due to take place this Sunday by Auckland based auction house Webb’s... More>>

Catalist: NZ’s New SME Stock Exchange, Gets Licence To Go Public

New Zealand has a new stock exchange – designed specifically for small and medium-sized businesses (SMEs) to raise up to $20 million a year from the public.
Called Catalist, the exchange has already been successfully working the private investment sector.... More>>

E-Commerce: Over 40% Of Those Engaged In The Bitcoin Community Are Millennials

Bitcoin has emerged to be a popular topic among millennials with digital currency increasingly being viewed as a potential source of creating wealth through investments. The interest in bitcoin by millennials signals the role this age group plays in the possible realization of the digital currency’s mass adoption... More>>