Study shows nearly one in every five dollars in New Zealand’s GDP comes from tourism

Tourism is performing well for New Zealand, according to a WTTC study.

Research from the World Travel & Tourism Council (WTTC) has revealed that nearly one-fifth of New Zealand’s Gross Domestic Product (GDP) comes from the travel and tourism industries.

In its annual study for 2017 into New Zealand – one of 185 countries and 25 regions it surveys – the WTTC found the travel and tourism sector generated 17.9% or NZ$47.5 billion (AU$43 billion) and over the next decade, this market will increase to 20% of GDP.

Travel & Tourism also provided employment for 212,000 people in New Zealand or 8.8% of the country’s total workforce. In the next decade, this is projected to increase to 275,000 jobs or nearly 11% of all employed in New Zealand. The WTTC study saw a 3.2% growth in the sector over the year, which was faster than the national economy as a whole (2.9%).

WTTC CEO Gloria Guevara said New Zealand was a prime example that tourism builds better societies, adding that current modelling shows that over 2.7 million international visitors will land on Kiwi shores before year’s end. This figure is expected to deliver a final improvement of 3.9% year-on-year from 2017 and generate NZ$14.5 billion (AU$13.1 billion) in tourism exports for New Zealand’s bottom line.

“Tourism has risen up the agenda in New Zealand over recent years and I commend the government on its support for the sector. Going forward, it will be vital for public and private sectors to continue to work together, with the close involvement of communities, to ensure that tourism growth is sustainable, inclusive and benefits everyone,” Guevara said.

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Source: hotelmanagement.com.au