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International spending up during September

MEDIA RELEASE

14 October 2011

International spending up during September

Paymark retail data during the month of September shows strong growth in international card holder spending through the Paymark network for Palmerston North. The Paymark network accounts for over 75% of electronic transactions processed in New Zealand.

Reports received indicate a 52% increase in the value of international card holder spending in Palmerston North compared with September 2010, resulting in additional spending of $191,000.

The largest increase in international visitor spending in September was in food and fuel, increasing by 70% ($800,000), followed by accommodation spending (65% increase, $430,000). The strongest percentage increase was at recreational good stores, with an 81% increase from last year and a $280,000 increase in the value of transactions. Apparel sales were 32% higher than last year while home ware stores recorded a 25% increase.

Among the standard countries included in the monthly report, strong growth was recorded for visitors from Canada, France, Germany, Netherlands, Rest of Europe, and United States of America. Visitor spending from the UK declined and there was a much smaller increase for Australian visitors.

Total international card holder purchases through the Paymark network were $5.9 million in the year to September, an increase of 11% from the previous year.

Although international spending has been on the increase over the last 12 months, the increase in spending can be directly related to Palmerston North hosting two Rugby World Cup games. It is thought that the opening of new galleries at Te Manawa and the revamped Rugby Museum may have also contributed to the increase in international spending.


ENDS


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