Recently published research from Business Monitor International, "New Zealand Tourism Report Q4 2013", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 09/30/2013 -- BMI's New Zealand tourism report looks at the strong long term potential offered by the country's developing tourist market. 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 make New Zealand and enduringly popular holiday destination and we expect inbound travel to increase throughout the forecast period.
While the global financial crisis and recession impacted on inbound arrivals in 2008 and 2009, arrivals in New Zealand have recovered and are showing consisting growth. As such BMI expects inbound arrivals to reach 3.3mn in 2017, up from 2.5mn arrivals in 2012, with particularly strong growth in arrivals from countries within the Asia Pacific region.
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Outbound travel is expected to show only small growth in 2013, as the New Zealand economy continues to recover from the global financial crisis. Growth is expected to strengthen from 2014 onwards, and by 2017 we expect to see outbound travel reach around 3.3mn, with the majority of tourists from New Zealand heading to countries in the Asia Pacific region.
The tourism industry in New Zealand makes a substantial contribution to the country's economy, with tourism making up 4.60% of GDP in 2011 and 5.27% in 2012 respectively. Moving forward we expect the 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, the tourism industry in New Zealand receives extensive support and investment from the government.
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. Cultural events include the Pacifica Festival and The Golden Shears sheep shearing completion which attracts thousands of visitors annually.
- Major hotel chains are taking more notice of New Zealand, with several international hotel chains taking notice of the potential including Wyndham who 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.
- Six international airports catering to 29 airlines provide excellent air travel connections between New Zealand and 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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