Hospitality bears brunt of 2024 spending downturn, Worldline says

Auckland's SPQR was one of a string of restaurants to close its doors in 2024. (Image: Alex Burton)

Mon, 13 Jan 2025

Consumer spending at New Zealand retailers grew modestly last year, but the same cannot be said for the hospitality sector. On Monday, payment processor Worldline NZ reported underlying hospitality spending, adjusted for large clients that move to and from Worldline’s network, fell 2.7% to $11.4 billion in 2024 compared with 2023. The average hospitality transaction value fell 1.2% to $29.51.Core retail spending, which excludes the hospitality sector, grew 0.8% to $36.3b despite the average transaction value falling 0.6% to $50....

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