The cost of slow border openings to tourism: $39b by 2024

The cost of slow border openings to tourism: $39b by 2024
The Wanaka tree, one of Instagram's most popular snaps, waits for borders to open. (Image: Deposit photos)
Brent Melville
New Zealand's tourism sector has tracked losses of more than $1.2 billion a month since border closures last March, Tourism Industry Aotearoa (TIA) says.The 1,300-member advocacy group counts $26b in lost earnings since NZ's border restrictions began, as the government's reaction to the covid pandemic smashed the country's biggest export earner.In 2019, the visitor economy generated $17.5b, or about a fifth of the country’s foreign exchange earnings. That's more than dairy exports, which were at $17.1b.And there’...

More Economy

A bold bid to pick winners
Economy Analysis

Pattrick Smellie: A bold bid to pick winners

It's a long time since a NZ Govt backed a completely new economic idea.

Pattrick Smellie 15 Nov 2024
Iain Rennie appointed new Treasury Secretary
Economy

Iain Rennie appointed new Treasury Secretary

Ex-state services chief will take over from Caralee McLiesh on Monday.

Staff reporters 14 Nov 2024
Housing market has some spring in its step but still subdued
Economy

Housing market has some spring in its step but still subdued

Reinz data obscures more recent lethargy, economist suggests.

Net migration falls to a decade-low
Economy

Net migration falls to a decade-low

New Zealand had a net migration gain of 44,900 for the year to September, falling below 50,000 for the first time since April 2019.It is also the lowest level of annual net migration since the 44,500 for the October 2014 year, if you exclude the period when the borders were close...

Staff reporters 13 Nov 2024