The tourism industry, which is one of the New Zealand economy’s brightest stars, continues to surge. The sector comprises the following two subdivisions;
- Domestic tourists, who spent $18.1 billion in the March 2015 year
- International visitors, who spent $11.8 billion during the same period making overseas tourism the country’s second largest foreign exchange earner after dairy.
Domestic tourism is booming because of low petrol prices and high levels of consumer confidence. Our roads are choc-a-block with vehicles as New Zealanders take advantage of low fuel prices and summer weather.
But the cream on the cake is the the huge increase in international holiday makers, particularly from China.
New Zealand attracted 381,024 overseas tourists in the September to November 2015 period, an impressive 17.1 per cent increase over the same period in 2014. We attracted 69,900 Chinese tourists in the same three month period, a massive 48.8 per cent increase over the September to November 2014 period.
But next month should be an all time high for international holiday arrivals. This is because the Chinese New Year celebrations take place from 7th to 13th February and more than 50,000 Chinese tourists are expected to visit New Zealand during the month.
Domestic travellers are advised to book their February hotel and motel requirements well in advance as well over 200,000 overseas holidaymakers are expected to visit New Zealand during the month and our tourist spots will be bursting at the seams.
We also need to be particularly careful on the roads because they will be extremely busy.
Disclaimer: This is intended to provide general information only. It does not take into account your investment needs or personal circumstances and so is not intended to be viewed as investment or financial advice. Should you require financial advice you should always speak to an Authorised Financial Adviser.