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Migration dwindles adding to weaker economic outlook

Wednesday 22nd October 2008

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New Zealand immigration growth fell to a seven-year low in the 12 months ended September 30, adding to the outlook for weaker economic growth.

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

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Get quotes for Tourism Holdings Limited Ordinary Shares (THL)
NZX Annoucements for THL
26 Aug 2010 SSH: THL: SSH (Schroder Investment Management (Australia) Limited)
26 Aug 2010 FLLYR: THL: Tourism Holdings Limited Results year to 30 June 2010
25 Aug 2010 DIRECTOR: THL: INDEPENDENT DIRECTORS
9 Aug 2010 MEETING: THL: Annual Meeting and Director Nomination Dates
27 Jul 2010 FORECAST: THL: Impact of Government tax changes to deferred tax provision
1 Jul 2010 ANNREP: THL: ANNUAL RESULTS RELEASE DATE
31 May 2010 RELINT: THL: Ongoing disclosure (Kate Meldrum)
31 May 2010 RELINT: THL: Ongoing disclosure (Ian Lewington)
31 May 2010 RELINT: THL: Ongoing disclosure (Grant Webster)
31 May 2010 RELINT: THL: Ongoing disclosure (Damien Shaw)
31 May 2010 RELINT: THL: Ongoing Disclosure (Michael Lim Chong)
31 May 2010 RELINT: THL: Ongoing disclosure (Quinton Hall)
31 May 2010 RELINT: THL: Ongoing disclosure (Sue Sullivan)
24 May 2010 GENERAL: THL: Long Term Share Scheme Incentive
21 May 2010 DIRECTOR: THL: Appointment of Director - John Bongard ONZM
6 Apr 2010 SSH: THL: Amended SSH (Accident Compensation Corporation)
6 Apr 2010 SSH: THL: SSH Notice (Blair Tallott)
8 Mar 2010 INTERIM: THL: Interim Report for the six months ended 31 December 2009
5 Mar 2010 OFFICE: THL: LEGAL SERVICES PROVIDER
3 Mar 2010 GENERAL: THL: THL - Approach to Shareholders
2 Mar 2010 ALLOT: THL: Notice of Redemption of Shares
24 Feb 2010 HALFYR: THL: Tourism Holdings Six Months Results to 31 December 2009
13 Jan 2010 RELINT: THL: Tourism Holdings Limited Disclosure Notice - Graeme Wong
12 Jan 2010 GENERAL: THL: Half Year Results Release
 
Tourism Holdings Limited Ordinary Shares

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