Will tourism be a silver bullet for the current account?

Treasury is banking on incoming tourism. (Image: Getty)

Thu, 15 Dec 2022

The government’s latest economic projections point to an uncertain global environment that could spell further trouble for the current account if a forecast lift in tourism numbers doesn’t pan out.Global growth in 2023 is likely to be the lowest since the early 1990s, excepting the global pandemic and global financial crisis, Treasury said in its half-year economic and fiscal update. That’s hardly conducive to inbound tourism or demand for New Zealand products, both critical for a narrower deficit. The current account def...

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