Investment boost for New Zealand tourism

Treble Cone Lake Wanaka by Martyn Williams
 

04 September 2019

A prospectus and new data tool to help New Zealand’s tourism industry attract capital investment has been launched by NZTE

An investment prospectus and comprehensive data tool have been launched by NZTE, to help New Zealand’s tourism industry attract capital investment and boost their contribution to the nation’s economy.

The Tourism Attraction Programme (TAP) was unveiled by Minister for Tourism Kelvin Davis at the Tourism Summit Aotearoa in Wellington.

Mr Davis said: “As New Zealand’s largest export earner, tourism plays a pivotal role in our economy. It contributes $15.9 billion, or 6.1 percent, to New Zealand’s Gross Domestic Product (GDP) and directly employs eight percent of the New Zealand workforce.”

The prospectus for potential investors outlines the unique and compelling opportunities available in New Zealand. It summarises key information and independent forecasts in relation to the New Zealand tourism sector, providing a snapshot of international and domestic data, cut by activity and region, to provide a fact base for tourism investment decisions in New Zealand.

NZTE’s Investment team will leverage the prospectus to attract international and domestic investment into the tourism sector.

The data tool, called the New Zealand Visitor Activity Forecast (NZVAF), provides both international and domestic visitor with forecasts for all regions and details of more than 60 visitor activities.

The tool was developed to alleviate information gaps and a lack of symmetry in the sector. Major domestic tourism operators and investors were asked to provide feedback on the output of the data analysis, to ensure that it meets both their needs.

The data has been designed for public use and is now available to support industry development.

Mr Davis said TAP was a coordinated government project aimed at accelerating new private investment into tourism attractions. NZTE is the lead agency, in partnership with the Ministry for Business, Innovation and Employment (MBIE), Tourism New Zealand (TNZ) and the Department of Conservation (DOC).

“The objective of TAP is to professionalise the ability for tourism ventures to raise private capital and accelerate high-quality investment in commercial tourism projects across New Zealand to meet the growing demand from international visitor numbers.

“Tourism is a leading export earner and driver of economic growth for New Zealand. The industry presents numerous opportunities for the right investors to make a significant impact.”

“The New Zealand Government is committed to attracting high-quality investment, for the good of New Zealand. NZTE, MBIE, TNZ and our public and private partners are seeking to enrich New Zealand through sustainable tourism growth.”

The Minister for Economic Development, Phil Twyford, said: “This type of investment helps lift the value of the industry, provides premium visitor experiences and supports regions and communities to thrive from tourism by developing exceptional tourism attractions that meet the increasing demands of visitors to New Zealand.”

The Invest in New Zealand Tourism Prospectus is available here: https://www.nzte.govt.nz/about/news/resources/invest-in-nz-tourism

The New Zealand Visitor Activity Forecast is available here: https://freshinfo.shinyapps.io/NZVAF/