New Zealand’s tourism sector is holding up well despite the fuel crisis, but operators are keeping a watchful eye on what happens next. Speaking to Herald NOW Business about the company’s investment in tourism operator RealNZ, Milford’s Private Equity Director John Johnston said the industry had lifted roughly 10% in guest numbers over the summer just gone, with South Island destinations like Queenstown tracking well ahead of pre-Covid levels. Nationwide, arrivals are sitting at around 96% of pre-pandemic figures. John said diesel costs, which had roughly doubled in March before starting a slow recovery, are bearable – but he warned a sustained fuel crisis could dampen demand from late-booking travellers ahead of next summer, though bookings were looking strong right now.
