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

 

The Cup runneth over – extra $26.6m during final RWC weekend

25 October 2011
For immediate release

The Cup runneth over – extra $26.6m during final RWC weekend

The final weekend of the RWC was full of celebrations both on and off the field, with the All Blacks lifting the Webb Ellis trophy, and an extra $26.6 million pushed through Paymark’s network between Friday and Monday, compared to the same four days in 2010.
Hospitality providers again reaped the greatest rewards of rugby revellers’ sorrows and celebrations, enjoying a lift of 24.1 per cent, or $9.6 million across the country between Friday and Monday.

As host of the France vs. New Zealand battle, Auckland’s hospitality providers worked overtime to satisfy celebratory eating and drinking before, during and after the game with spending up a huge 50 per cent across the four days. As with other major games, there was a spending surge after the Cup was raised, with a $1.0 million injection between midnight Sunday and 6 am Monday.

But it wasn’t just Aucklanders that headed to pubs, clubs and restaurants to celebrate success – countrywide merriment spilled over to Labour Day, with hospitality spending growth via all cards skyrocketing to an average of 65.4 per cent across the country.

Regions to experience marked growth in hospitality on Labour Day included Auckland (+122.34 per cent), Wellington (+51.9 per cent), Waikato (+46.5 per cent), Southland (+42.6 per cent) and Nelson (+36.7 per cent).

Paymark Head of Sales and Marketing, Paul Whiston, says that the final game of the RWC was always going to bring a growth in spending – but that it was positive to see many of the regions that have missed out on big increases getting a slice of the action on Monday.

Foreign card spending through the Paymark network for the Cup to date now totals $260m, up $70m, or 36.5 per cent on the same period last year (9 September to 24 October).

Spending in the combined car rental, accommodation and hospitality sectors for all cards is at $603m, up $55m or 10.0 per cent for the same four-day period.

By sector, this can be further broken down to hospitality ($449m, + $46m), accommodation ($115m, +$2m) and car rental ($40m, +$8m).

Paul Whiston says that the extra spending is fantastic and will have made some retailers’ days, but again, that other factors such as cash and pre-paid bookings need to be taken into consideration when assessing the full impact of the RWC.

“There have been a lot of predictions about the financial impact of the Cup, and our figures show that it has certainly benefited a selection of retailers and industries.

“However, as we have seen since the Cup began, in contrast to overseas visitors who have been spending up large throughout the Cup, it seems Kiwis are continuing to be more subdued spenders, which resulted in fairly flat spending since the Cup began,” says Whiston.

Total spending (excluding fuel) for the country was up $195 million across the Paymark network (remembering that this equates to approximately 50 per cent of retail transactions by value) or 4.2 per cent during the tournament in comparison to the same period last year. This was below the average year-on-year spending growth rate of 4.5 per cent during the month of August this year.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

TradeMe: Property Prices In Every Region Hit New High For The Very First Time

Property prices experienced their hottest month on record in December, with record highs in every region, according to the latest Trade Me Property Price Index.\ Trade Me Property spokesperson Logan Mudge said the property market ended the year with ... More>>

Motor Industry Association: 2020 New Vehicle Registrations Suffer From Covid-19

Chief Executive David Crawford says that like some other sectors of the New Zealand economy, the new vehicle sector suffered from a case of Covid-19. Confirmed figures for December 2020 show registrations of 8,383 were 25% ... More>>

CTU 2021 Work Life Survey: COVID And Bullying Hit Workplaces Hard, Huge Support For Increased Sick Leave

New data from the CTU’s annual work life survey shows a snapshot of working people’s experiences and outlook heading out of 2020 and into the new year. Concerningly 42% of respondents cite workplace bullying as an issue in their workplace - a number ... More>>

Smelter: Tiwai Deal Gives Time For Managed Transition

Today’s deal between Meridian and Rio Tinto for the Tiwai smelter to remain open another four years provides time for a managed transition for Southland. “The deal provides welcome certainty to the Southland community by protecting jobs and incomes as the region plans for the future. The Government is committed to working on a managed transition with the local community,” Grant Robertson said. More>>

ALSO:

OECD: Area Employment Rate Rose By 1.9 Percentage Points In The Third Quarter Of 2020

OECD area employment rate rose by 1.9 percentage points in the third quarter of 2020, but remained 2.5 percentage points below its pre-pandemic level The OECD area [1] employment rate – the share of the working-age population with jobs – rose ... More>>

Economy: Strong Job Ad Performance In Quarter Four

SEEK Quarterly Employment Report data shows a positive q/q performance with a 19% national growth in jobs advertised during Q4 2020, which includes October, November and December. Comparing quarter 4, 2020, with the same quarter in 2019 shows that job ad volumes are 7% lower...More>>

NIWA: 2020 - NZ’s 7th-warmest Year On Record

The nationwide average temperature for 2020, calculated using stations in NIWA’s seven-station temperature series which began in 1909, was 13.24°C (0.63°C above the 1981–2010 annual average). New Zealand’s hottest year on record remains 2016, when... More>>

Quotable Value New Zealand: Property Market Set To Cool From Sizzling To Warm In 2021

Nostradamus himself could not have predicted the strange series of events that befell our world in 2020 – nor the wild trajectory of New Zealand’s property market, which has gone from “doom and gloom” to “boom and Zoom” in record time. Even ... More>>