Sharechat Logo

NZ 2013 budget earmarks extra $158 mln for tourism: Key

Tuesday 16th April 2013

Text too small?

Prime Minister and Tourism Minister John Key said an additional $158 million over four years will be earmarked for tourism in next month's budget.

Key told a business audience in Wellington that he will announce details of the funding at the TRENZ tourism conference this week. It will be part of the budget's theme for "a package of internationally focused growth initiatives."

"The package of funding will accelerate the work already underway in attracting high value tourists, and supporting and growing emerging and existing markets," he said.

"As my recent visits to China and Latin America have demonstrated, there is huge potential for New Zealand in these and other growth markets," Key said. "Achieving growth in tourism earnings requires targeted new investment to position New Zealand as a high-value destination in markets with real potential for growth."

Tourism generated $9.6 billion in the 12 months ended March 31, amounting for 3.3 percent of gross domestic product.

New Zealand visitor arrivals climbed 9 percent last month as Chinese visitors more than doubled from a year ago amid celebrations of the Lunar New Year.

Some 223,000 people made short-term visits to New Zealand in February, up 9 percent from the same month of 2012, data last month showed.

The number of Chinese visitors rose 106 percent to 31,536, and arrivals from Hong Kong jumped 144 percent to 3,760.

The budget is released on May 16.

BusinessDesk.co.nz

  General Finance Advertising    

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.

Related News:

Transpower sees no risk to credit metrics from incentive change
NZ dollar rises, an outlier amid rising Gulf tensions
Craigmore spends $32M to expand Kerikeri kiwifruit crop by 'more than a third'
CentrePort eyes further hub expansion
South Port beats guidance, earnings in line with 2018 record
Plexure sees revenue growth from White Castle deal
22nd July 2019 Morning Report
NZ dollar treading water as markets focus on Iran
MARKET CLOSE: NZ shares extend gain as passive funds bolster prices; Tourism Holdings climbs
NZ dollar headed for 1.3% weekly gain on expectations of a Fed rate cut

IRG See IRG research reports