Travel & Tourism worth 18% of New Zealand GDP
Latest figures show that Travel & Tourism generated almost 18% of New Zealand’s Gross Domestic Product (GDP) in 2017, accounting for nearly nine per cent of total employment.
Research published by the World Travel & Tourism Council (WTTC) has shown that in 2017, the total contribution of Travel & Tourism accounted for 17.9% (NZD$47.5bn) of New Zealand’s GDP. This figure is set to rise by 2.9% per annum and forecast to account for 20% of New Zealand GDP over the next decade.
The report also showed that Travel & Tourism supported 212,000 jobs in 2017 (8.8% of total employment), and by 2028, more than 275,000 jobs in New Zealand (10.9% of total employment) are forecast to be dependent on Travel & Tourism.
The travel sector grew by 3.2% in 2017, faster than the economy as a whole, which grew at 2.9% in the total wider economy. New Zealand is the 32nd largest travel economy in the world.
Gloria Guevara, WTTC’s president & CEO, said: “Travel & Tourism creates jobs, drives economic growth and helps build better societies. New Zealand is a prime example of this, as the country and its natural beauty is expected to attract over 2.7 million international tourist arrivals in 2018 alone. This represents a 3.9% economic increase from 2017 where visitor exports were responsible for generating NZD14.5bn (USD10bn).
“Tourism has risen up the agenda in New Zealand over recent years and I commend the government on its support for the sector. Going forward it will be vital for public and private sectors to continue to work together, with the close involvement of communities, to ensure that tourism growth is sustainable, inclusive and benefits everyone.”
Every year WTTC produces the definitive research into the economic impact of Travel & Tourism across 185 countries and 25 regions. A full list of reports can be found here.