Fast Market Research recommends "Travel and Tourism in New Zealand to 2017" from Timetric, now available
Boston, MA -- (SBWIRE) -- 07/08/2013 -- The travel and tourism sector in New Zealand performed well over the review period. The country witnessed an increase in number of visitors, both domestic and international, as well as an increase in tourist expenditure. Economic growth, promotional activities by the tourism authority and the hosting of international events supported this growth. However, the appreciation of the New Zealand dollar against other major currencies is of concern, reducing the competitiveness of the country in terms of attracting foreign visitors. Tourism is a significant contributor to New Zealand's economy. According to the World Travel and Tourism Council (WTTC), the tourism sector contributed 14.9% to the total GDP and 19.1% to the total employment in New Zealand in 2012. Tourism New Zealand is the government agency responsible for marketing New Zealand. It makes use of the '100% Pure New Zealand' marketing campaign as its major tool, a campaign which has been running successfully since 1999.
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- The domestic tourism market has been hampered by the strength of New Zealand dollar against other major currencies. With the currency increasing at a CAGR of 5.84% against the US dollar and 7.01% against the Euro between March 2010 and March 2013, it has become increasingly affordable for New Zealanders to take trips abroad.
- The five largest countries in terms of sourcing inbound tourists to New Zealand in 2012 were Australia, China, the UK, the US and Japan, which collectively accounted for 69.9% of the country's total inbound arrivals. Australia accounted for the majority share of 45.1% with 1.2 million arrivals, followed by China with 197,000. Inbound tourist volumes from China registered the highest CAGR of 15.06% during the review period.
- The most significant barriers for outbound travel to non-Asian countries are distance, time and cost. Other factors hindering outbound travel include a shortage of annual leave, an unwillingness to take leave because of job security or personal reasons, and the high cost of travel packages.
- In view of the increasing competition and rising pressure on prices, airline pricing structures in New Zealand have undergone some changes. In order to attract customers and compete in the low cost segment, airlines are offering a customizable pricing structure. For example, Air New Zealand's 'Seat to Suit' is a four-tiered product which offers four types of ticket based on the baggage carried and the services availed. Low-cost carriers also offer deals to attract customers.
- The number of hotel establishments in the country declined marginally during the review period, mainly at the budget end, and it is expected to record only slow growth in the forecast period. Consequently, an increase in demand for hotel services will lead to a rise in room rates and increased worries over the increasing relative cost of tourism in New Zealand.
Companies Mentioned in this Report: Air New Zealand Limited, Jetconnect Limited, Jetstar Airways Limited New Zealand, Eagle Airways Ltd., Sunair Aviation Ltd, Accor Hotels New Zealand, Hilton Hotels New Zealand, Intercontinental Hotels Group New Zealand, The Langham Hotel New Zealand, Wharekauhau Country Estate, Budget Rent a Car New Zealand, Thrifty Car Rental New Zealand, Avis New Zealand, Ace Rental Cars, Omega Rental Cars, House of Travel, First Travel Group, Mondo Travel, United Travel New Zealand, China Travel Service (N.Z.) Limited
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