Touchdown: The return of international tourists is set to hike industry revenue
Tourism is bouncing back in New Zealand, following the steep downturn caused by the COVID-19 pandemic. All sections of the industry suffered from a collapse in total tourist days in New Zealand. Businesses reliant on international tourism were acutely affected, following the closure of New Zealand's international border from March 2020 to June 2022. Most businesses were forced to shift focus to domestic tourists, which were restricted from outbound travel and more likely to holiday domestically. High levels of government stimulus generated a sharp rise in real household discretionary income, which further bolstered demand from New Zealand households. Yet, intermittent lockdowns disrupted domestic demand over the period, further constraining the performance of tourism businesses in New Zealand. Industry revenue is anticipated to fall at an annualised 2.0% over the five years through 2023-24, to $43.1 billion. Yet, as restrictions have eased, revenue has quickly rebounded, including an expected surge of 35.3% in 2023-24, as international tourists return to New Zealand.
Industry players provide tourism services for local and foreign travellers on short-term trips of less than one year. This includes people travelling for work, leisure or personal reasons. The industry’s services are broad, encompassing transport, accommodation, hospitality, recreation and retail services.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry's key players and their market shares.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Air New Zealand Limited
Methodology
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