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

 

High NZ dollar sees record number of kiwis travel

High NZ dollar sees record number of kiwis travel, visitor numbers fall

By Jason Krupp

Aug. 19 (BusinessDesk) - The strength of the New Zealand dollar saw a record number of kiwis pack their bags and head on overseas trips in July, while the high currency crimped the number of inbound visitors.

The number of kiwis heading on an overseas trip rose to a record of 231,600 in July, up from 207,992 in the same month last year, according to Statistics New Zealand.

The New Zealand dollar rose to 88.15 U.S. cents in the month, near the highest level since the currency was floated 16 years ago, giving kiwis more buying power overseas and making the nation a relatively more expensive travel destination. This time last year the kiwi traded at 72.70 U.S. cents.

Later-than-usual school holidays and postponed trips due to ash cloud disruptions in June also played a factor, the department said.

The kiwi dollar however cut both ways, with visitor arrivals falling 4% to 176,084 in the month compared the July last year, the department said. The decline was eased by the arrival of 1,200 tourists who came in anticipation of the Rugby World Cup. Visitors from China were the only category in the month to see an increase.

On a seasonally adjusted basis, there was a net loss of 200 permanent and long-term migrants in July, as Christchurch residents continued to head overseas in the wake of the March earthquake. Unadjusted figures showed 800 Christchurch residents left to live overseas in the month, up from 500 at the same time last year.

In July, the net outflow of migrants to Australia was 3,200, the highest recorded for a July month, according to the department. The previous high for a July month was a net outflow of 2,900 in 1979.

In the year ended July 2011, New Zealand had a net migration gain of 2,900, down from 15,200 the previous year. The latest figure is below the average annual net migration gain of 12,000 over the last 20 years, and is the lowest net gain since the October 2001.

(BusinessDesk)

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 




Barfoot and Thompson: Auckland Housing Prices Shrug Off Winter Concerns

Auckland house prices shrugged off the normal winter downturn, concerns about increasing prices and warnings of possible future interest rate rises in July.
“Mounting concerns about the prices being paid and possible future interest rate increases did nothing to dampen July trading... More>>



Stats NZ: Sharp Falls In Unemployment And Underutilisation

The seasonally adjusted unemployment and underutilisation rates fell to 4.0 and 10.5 percent, respectively, in the June 2021 quarter, Stats NZ said today. The unemployment rate continued to fall from its recent peak of 5.3 percent in the September 2020 quarter... More>>


FIRST Union: Do Shareholders Realise Marsden Point Conversion Could Cost More Than Half A Billion Dollars?

FIRST Union, the union representing workers at Refining NZ, are querying whether shareholders voting on Friday on whether to convert the Marsden Point refinery to an import-only terminal realise the conversion could cost $650-700 million dollars... More>>


Transport: July 2021 New Vehicle Registrations Boosted By EV Rebate Scheme
Motor Industry Association Chief Executive David Crawford says that July 2021 sales of new vehicles were boosted by the recently introduced rebate scheme. July 2021 registrations were 15,053 units compared to 12,263 units for July 2020... More>>



ASB: New Support Finder Tool Helps Connect Customers With Thousands In Government Support

ASB research alongside benefit numbers from the Ministry of Social Development shows an increased number of Kiwis are struggling financially, and many may not be aware they’re eligible for government support... More>>


Housing: New Home Consents Continue To Break Records

A record 44,299 new homes were consented in the year ended June 2021, Stats NZ said today. “The annual number of new homes consented rose again in the June 2021 year, the fourth consecutive month of rises,” construction statistics manager Michael Heslop said... More>>