Spending by international visitors is expected to grow by 25 per cent to $8.3 billion by 2020, according to this report.
Background of the report:
Each year, the Ministry of Business, Innovation and Employment (MBIE) produces tourism forecasts to support planning and investment processes in the tourism industry.
This year MBIE combines NZIER’s leading edge tourism forecasting model with expert judgment from a small technical committee of industry participants. This approach, supported by one-on-one visits with industry, will help develop the outlook.
The forecasts are based on macroeconomic drivers, such as exchange rates, oil prices, the global economy and the economies of our key visitor markets.The industry-led Tourism 2025 framework is uniting New Zealand’s tourism industry. Success from that initiative would increase international visitor arrivals and promote value growth that takes the
tourism sector closer to the Tourism 2025 aspirational goal of a $41 billion to the New Zealand economy by 2025.
Other work across the industry has the potential to improve outcomes relative to these forecasts. For example, Tourism New Zealand and Air New Zealand are seeking to revitalise the Japan market. These exciting projects could produce upside possibilities to the central forecasts in this report.