Migration dwindles adding to weaker economic outlook

Net permanent long-term migrant arrivals were 4,400 in the latest year, the lowest since the October 2001 year, Statistics New Zealand said. Arrivals almost halved from 8,300 a year earlier.

Migration helped fan a boom in property in the past 10 years as demand for housing drove prices higher. Home-building approvals fell to a 22-year low in August, according to government figures on Sept. 30. The economy contracted in the first half of the year and some economists are predicting growth won't revive until 2009.

Visitor arrivals fell from China, Australia, South Korea and Japan, according to the latest figures.

Tourist and short-term visitor arrivals fell 6% in September from the previous month, the second monthly decline, seasonally adjusted.

Shares of Tourism Holdings, the nation's biggest campervan rental company, tumbled 54% this year and traded recently at NZ$1.07.

By Jonathan Underhill

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Printable version

Related News

Tourism Holdings signs 5-year contract to supply ambulances to St. John
Tourism Holdings revenue up but earnings down
Daily ShareChat: Tourism Holdings
Daily ShareChat: Tourism Holdings
Daily ShareChat: Tourism Holdings
Strong kiwi pushing Tourism Holdings to first-half loss
Tourism Holdings sells Fiji assets
Tourism Holdings lifts profit
Daily ShareChat: Tourism Holdings
Tourism Holdings turns to 1H profit

Get quotes for Tourism Holdings Limited Ordinary Shares (THL)

NZX Annoucements for THL