rfc logo transparent

Country Highlights

New Zealand’s Economy: Impact of Tourism

Tourism is vital to New Zealand’s economy, directly contributing NZ$16.2 billion (5.8% of GDP) and indirectly contributing NZ$11.2 billion in 2019. Over 229,000 people were directly employed in tourism.

Tourism has been a significant contributor to New Zealand’s economy, supporting employment and contributing to the country’s GDP. Before the COVID-19 pandemic, tourism was New Zealand’s largest export industry, delivering $40.9 billion to the country. In the year ending March 2020, tourism directly contributed NZD 16.3 billion, or 5.5% of GDP.

However— the impacts of the pandemic saw this fall to NZD 8.5 billion, or 2.8% of GDP. Tourism made a significant positive impact on regional economies, supporting employment by directly employing 8.4 percent (229,566 people) of the New Zealand workforce. The number of people attributed to being directly employed in tourism was 145,032, an increase of 3.2 percent (3,888).

The indirect value added of industries supporting tourism generated an additional $6.6 billion to the New Zealand’s Economy, or 2.0 percent of GDP. The tourism sector should continue to be the major contributor to Norfolk Island’s economy and is providing jobs and benefits for all residents through all seasons.

International tourism expenditure reached over NZ$17.5 billion in 2022, boosting New Zealand’s Economy. Key markets include Australia, China, the USA, and the UK. Domestic tourism is also significant.

The tourism industry suffered during COVID-19 border closures but has rebounded quickly. By late 2022, international arrivals were at over 90% of 2019 levels due to pent-up demand. Full recovery of the New Zealand’s Economy due to tourism is expected by 2024.

Looking ahead—tourism growth is forecast to continue but faces risks like economic downturns abroad, climate change impacts, and increasing costs of travel. Sustainable tourism practices are increasingly promoted.

Tourism stimulates extensive flow-on impacts across the domestic economy. Visitor spend ripples out supporting jobs and businesses in retail, hospitality, transport, events, recreation and more. As the industry rebuilds post-COVID, tourism will be crucial for many regional economies.

Wish to build solutions and build strategies? Let's get on a Call to discuss your Business

Scroll to Top
rfc logo transparent
Search

About Ruskin Felix Consulting LLC

Industries

Understand multiple industries at a glance, which encompasses change as its core attribute.

Services

RFC helps clients generate long-term value for all stakeholders. We help clients transform, grow, and operate while fostering trust through assurance with our services and solutions, which are made possible by data and technology.

Sustainability

We balance ESG and risk mitigation in our professional services. Our consulting experts make sustainability a business priority with vision and pragmatism.

Featured Reports

Understand the macroeconomic situations that affect the global positioning of countries.

Businesses can better understand how chatbots can advocate their vision.

DeFi helps reduce dependency on traditional methods of transactions.

Creating a sustainable environment for driving multiple countries into a better tomorrow.

Understand how the U.S. discrepancy in accordance to their debt creates a havoc. 

Sustainable blockchain technology has immense benefit for the environment which cannot go unnoticed.

Receive the latest news

Subscribe To Our Newsletter

Get notified about new articles and business opportunities

Featured Reports

Understand the macroeconomic situations that affect the global positioning of countries.

Businesses can better understand how chatbots can advocate their vision.

DeFi helps reduce dependency on traditional methods of transactions.

Creating a sustainable environment for driving multiple countries into a better tomorrow.

Understand how the U.S. discrepancy in accordance to their debt creates a havoc. 

Sustainable blockchain technology has immense benefit for the environment which cannot go unnoticed.

About Ruskin Felix Consulting LLC

Stay In Touch

Get in touch with our team for customizable services!

rfc logo transparent

Featured Reports

Understand the macroeconomic situations that affect the global positioning of countries.

Businesses can better understand how chatbots can advocate their vision.

DeFi helps reduce dependency on traditional methods of transactions.

Creating a sustainable environment for driving multiple countries into a better tomorrow.

Understand how the U.S. discrepancy in accordance to their debt creates a havoc. 

Sustainable blockchain technology has immense benefit for the environment which cannot go unnoticed.