Forecasts Expenditure Summary
Last updated:
October 2008
The current macroeconomic environment is challenging for New Zealand tourism. One of the few positives is the steep decline in the value of the New Zealand dollar since August 2008, which will make New Zealand a more price competitive international destination and is likely to result in greater spend per visitor night.
International visitor spend is forecast to increase by 55.8% over the forecast period from $6.15 billion in 2007 to $9.57 billion by 2014, representing an average increase of 6.5% per annum. Domestic visitor spend is forecast to increase by 24.9% over the forecast period from $7.59 billion in 2007 to $9.47 billion by 2014, representing an average increase of 3.2% per annum.
Total tourism expenditure (international plus domestic) is forecast to increase from $13.73 billion in 2007 to $19.05 billion in 2014. This represents a gross increase of $5.31 billion (38.7%) over the forecast period, and an average increase of 4.8% per annum.
Significant changes to the global economy over the past six months mean that the Ministry of Tourism’s 2008-2014 tourism forecasts need to be treated with caution, particularly for the outlook over the next 1-2 years.
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