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Boston, MA -- (SBWIRE) -- 12/20/2013 -- BMI's tourism report for New Zealand looks at a range of expected trends in the country's developing tourist industry. We are forecasting solid increases across all key market indicators, including inbound and outbound travel, travel expenditure and hotel industry value, reflecting New Zealand's status as a potentially lucrative long-term investment destination.
New Zealand offers visitors a range of attractions, including the rural mountains of the South Island, a variety of winter and summer sports, attractive metropolitan cities and eco-attractions, including whale watching, which make the country an enduringly popular holiday destination. As well as a range of natural attractions, New Zealand is building its reputation as a sporting destination, with major sporting events in 2013 including the Winter Games, a tour from the England cricket team and cycling events like the Forrest Grape Ride further raising the country's status in the global market. Cultural events including the Pacifica Festival and The Golden Shears sheep shearing competition also attract thousands of visitors annually.
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This established popularity means New Zealand is well placed to recover from the global financial crisis and recession, which impacted on inbound arrivals in 2008 and 2009. Since then, arrivals to New Zealand have recovered and are showing consisting growth. BMI expects inbound arrivals to reach 3.3mn in 2017, up from 2.7mn in 2013, with particularly strong growth in arrivals from countries within the Asia Pacific region, due to the strength of burgeoning markets in China and India.
Similar increases are expected in terms of outbound travel from New Zealand, although we expect growth to be slightly slower. By 2017, we expect to see outbound travel reach over 3.3mn, with the majority of tourists from New Zealand heading to countries in the Asia Pacific region, thanks to a wide range of travel links.
Tourism in New Zealand receives a great deal of support from the government, which is understandable as tourism makes a substantial contribution to the country's economy, making up 5.3% of GDP in 2012.
Moving forward, we expect the industry's contribution to overall GDP to grow steadily, to reach 6.9% in 2017. This is a substantial proportion of the country's GDP; for comparison, tourism in the UK contributed around 2% to the GDP in 2012, and India's just 1.2% and is likely to remain the focus of government development moving forward.
- Major hotel chains are taking more notice of New Zealand, for example Wyndham has opened two new Ramada hotels. However, BMI is only forecasting small growth in the number of new hotels as arrivals figures are not yet at the point of justifying further expansion.
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