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Boston, MA -- (SBWIRE) -- 05/27/2013 -- BMI's New Zealand tourism report examines trends in inbound and outbound tourism, developments in transport infrastructure and the hotel industry and the long-term investment potential offered by the tourism industry. The country's strong range of tourist 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 make New Zealand and enduringly popular holiday destination.
The tourism industry has long been important to New Zealand's economy, and tourism as a percentage of GDP rose to 4.60% and 5.27% in 2011 and 2012 respectively. Moving forward we expect the tourism industry's contribution to overall GDP to grow steadily to reach 6.88% of GDP 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%. As such an important part of the economy, and tourism industry in New Zealand receives extensive support and investment from the government.
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Inbound arrivals to New Zealand have largely been increasing over the previous decade, though figures did suffer at the height of the global financial crisis and recession in 2008 and 2009. Arrivals have however recovered by and 2017 BMI expects arrivals to reach over 3.3mn per year, up from an estimated arrivals figure of 2.5mn in 2012.
Our revised outbound tourism figures show minimal growth in 2012 and 2013, with a higher rate of annual growth expected from 2014 onwards. Slow growth in outbound travel is a result of the limitations of the domestic economy, which is still recovering from the global financial crisis. By 2017 we forecast that outbound tourism figures will almost match inbound arrivals, of 3.2mn. The Asia Pacific region is the most popular, both for inbound and outbound tourism due regional connectivity and New Zealand's remote geographical location.
Major sporting events in 2013 include the Winter Games, a tour from the England cricket team and cycling events like the Forrest Grape Ride. Cultural events include the Pasifika Festival and The Golden Shears sheep shearing completion which attracts thousands of visitors annually.
- Several international hotel chains are taking notice of the potential offered by New Zealand's tourism market, with Wyndham recently opening 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.
- New Zealand is served by six international airports catering to 29 airlines providing excellent air routes to the rest of the world. A range of small domestic airports provide further transport links around the country.
- New Zealand has been giving a Tourism Industry Risk/Reward rating of 59.89, putting it ahead of Vietnam but behind South Korea.
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