Economic activity is struggling to grow as inflation and high interest rates continue to stifle spending.
An increase in guest nights has helped boost Taupō’s economy, according to an analysis from Infometrics.
New Zealand will need to be innovative to stay top-of-mind overseas as recession looms.
The strong recovery of the tourism sector has helped boost the transport sector and wider economy, according to Infometrics’ December 2022 Quarterly Economic Monitor.
Rising visitor arrivals, strong expenditure, and more guest nights are bolstering stronger-than-expected international tourism recovery in New Zealand and contributing to elevated economic activity.
An “exodus of youth” employees could hit NZ’s tourism hotspots just as the peak season starts.
NZ’s economic performance will only stay positive thanks to the revival of the sector.