Economy News & Articles

Showing 15 of 2505 articles

New Zealand Tourism Booms with 6% More Visitors and $12.3B Spend in 2025

International visitors to New Zealand are increasing in number and spending more, driving significant growth in the tourism sector and economy, with total spending reaching $12.3 billion for the year ending September 2025. Visitor numbers rose to 3.43 million, reaching 88% of pre-pandemic levels, boosted by higher-spending travelers, especially from the USA. The government supports this growth through the Tourism Growth Roadmap, aiming to double tourism export value by 2034 while enhancing visitor experiences and regional opportunities.

Cutting Red Tape in New Zealand Yields $223M-$337M Economic Benefits

Minister for Regulation David Seymour highlights that cutting red tape in New Zealand has generated significant economic benefits, with a return of $11–$17 for every dollar spent, totaling an estimated net public benefit of $223 million to $337 million over 10 years. Examples include lifting bans on medical conferences and revoking unnecessary sector-specific regulations, which have already brought millions in benefits and promise ongoing savings across various industries. The government aims to continue reducing unnecessary regulations to boost productivity, economic growth, and public value through practical reforms and improved regulatory standards.

Costco's Expansion Plans Bring Economic Boost to New Zealand Shoppers

US supermarket giant Costco is planning to open a second store in South Auckland, welcomed by Economic Growth Minister Nicola Willis. The Government is facilitating quick approvals for new supermarkets through legislation and working closely with Costco for efficient consenting processes. Kiwi Property has agreed to sell land for the new Costco store, expected to boost the economy, create jobs, and enhance competition for shoppers.

New Zealand Enhances Screen Production Rebate to Boost Global Competitiveness

The Government of New Zealand is updating the International Screen Production Rebate to enhance the country's competitiveness in the global film and television industry, responding to industry feedback and increasing incentives to attract screen investment. Changes include lowering the minimum qualifying spend for feature films, reducing thresholds for incentives, expanding eligibility for post-production projects, and removing caps on certain costs. These updates aim to diversify the screen economy, strengthen partnerships in growing markets, and support the local industry while attracting new investment and technology.

New Zealand's Gold Mining Boom: Economic Opportunities and Prosperity on the Horizon

New Zealand's Resources Minister Shane Jones highlights the country's potential gains from the global interest in gold and minerals, emphasizing the economic opportunities presented by a significant gold discovery in Central Otago. The mining permit granted to Matakanui Gold Limited for the Rise and Shine prospect is expected to create jobs, boost local economies, and generate substantial revenues for the government through royalties and taxes. The government's commitment to utilizing mineral resources for regional development, job creation, and economic prosperity is underscored by the fast-track approval process for mining projects like Bendigo-Ophir and the financing of the Snowy River Gold Mine development by Endura Mining.

New Data Reveals Strong Growth in International Tourism Industry, Boosting Confidence and Economic Recovery

The Government celebrates a 7.5% increase in international visitor arrivals in August, signaling a positive trend for the tourism industry's recovery post-COVID. Minister Louise Upston emphasizes the economic importance of tourism as New Zealand's second highest export earner. The Tourism Industry Association survey indicates an 86% confidence level among tourism organizations for the upcoming year, reflecting the industry's optimism and the Government's investments to promote New Zealand as a top destination.

Global Uncertainty Impacts Economy: Minister Willis on Latest Stats NZ Data

Finance Minister Nicola Willis highlighted the impact of global uncertainty on consumers and businesses based on released economic data. Stats NZ reported a 0.9% decline in real Gross Domestic Product in the second quarter following an initial increase. Willis attributed this downturn to international turmoil and tariffs affecting investment decisions. Looking ahead, there are positive signs of economic recovery, with lower interest rates, increased mortgage lending, and a forecasted strengthening of economic growth as tariff-related uncertainty diminishes.

New Zealand Government Unveils $70 Million Boost for Major Events and Tourism

The Government has unveiled a $70 million investment package to boost major events and tourism projects in New Zealand, aiming to stimulate economic growth and confidence. Tourism and Hospitality Minister Louise Upston emphasizes the importance of major events in supporting local economies, creating jobs, and attracting visitors. The package includes funding for securing international events, supporting existing events, promoting regional tourism, and upgrading tourism infrastructure to enhance New Zealand's competitiveness as a tourism destination.

International Visitor Arrivals and Spending on the Rise, Boosting New Zealand's Tourism Sector and Economy

Fresh data released today indicates that international visitor arrivals and spending are on the rise, boosting New Zealand's tourism sector and economy, as highlighted by Tourism and Hospitality Minister Louise Upston. The year ending June 2025 saw international tourism contribute $12.1 billion to the economy, a 4.3% increase from the previous year, with a 5% rise in visitor arrivals totaling 3.38 million. Despite positive growth, Upston emphasizes the need for continued efforts to further enhance the tourism sector, referencing initiatives like the Tourism Growth Roadmap aimed at doubling tourism exports by 2034.

Northland's Economic Future: Major Developments and Opportunities Unveiled

Rail Minister Winston Peters and Regional Development Minister Shane Jones highlight significant developments in Northland's economic future, including Marsden Point's role as an energy and economic powerhouse. Projects such as a refurbished tank for supplying jet fuel to Auckland Airport and a commercial dry dock aim to boost job creation and international trade. Plans for a Regional Infrastructure Fund part-funded drydock at Northport and the potential use of special economic zones to attract investment demonstrate a focus on enhancing New Zealand's economic growth and resilience.

Boosting Sustainable Tourism with $17.5M Investment in Natural Attractions

The $17.5 million investment in sustainable tourism aims to boost regional economies by supporting jobs and incomes at popular natural attractions in New Zealand. The funding will improve visitor planning and management at key sites like Aoraki Mount Cook National Park and Milford Sound, ensuring the conservation areas continue to attract tourists with stunning nature. Additionally, investments in Great Walks and DOC campsites will enhance service and management, contributing to the country's economic growth driven by tourism expenditure of $44.4 billion and over 300,000 jobs.

Prime Minister and Finance Minister Unveil Plans to Boost Economy, Jobs, and Income for Kiwis

The Government, led by Prime Minister Christopher Luxon and Minister of Finance Nicola Willis, is prioritizing economic growth to create jobs, raise incomes, and assist New Zealanders with the cost of living. Initiatives such as scrapping surcharges, tax relief, and the introduction of FamilyBoost aim to alleviate financial burdens for families. By focusing on key areas like talent development, competitive business settings, global trade, innovation, and infrastructure, the Government aims to boost wages by growing the economy in the long term.

New Zealand Construction Industry Welcomes Expanded Range of Building Products for Cost Savings and Quality Boost

Starting tomorrow, New Zealand will see increased accessibility of various building products such as plasterboard, cladding systems, external doors, and windows, aiming to boost the construction industry and lower building costs. The government, led by Building and Construction Minister Chris Penk, is focused on driving economic growth, creating jobs, and improving wages through initiatives like allowing quality overseas building products into the market. These changes are part of a broader effort to introduce competition, reduce costly monopolies, and streamline the use of international building standards, with the Building Product Specifications document being a key resource for this transition.

New Zealand Welcomes Major Medical Conferences: Economic Boost Expected

Regulation Minister David Seymour and Health Minister Simeon Brown welcome ANZCA and RANZCO medical conferences coming to New Zealand in 2026, with 3300 delegates expected, generating millions in economic activity. ANZCA will bring 1500 delegates, injecting over $3 million, while RANZCO's congress will host 1800 delegates, contributing more than $2 million. The Government's move to end the prohibition on advertising medicines at conferences aims to boost the economy, provide knowledge to medical professionals, and enhance access to healthcare innovations.

New Zealand Fisheries Ranked Among World's Most Sustainable by UN Report: Minister Shane Jones Applauds Sector's Efforts

A United Nations report ranking New Zealand’s fisheries among the world’s most sustainable is strong recognition of the sector’s hard work, Oceans and Fisheries Minister Shane Jones says. “The report compared fisheries around the world and found the region including New Zealand’s waters have the second highest levels of sustainable stocks in the world. “New Zealand has a reputation around the world for high quality, sustainable kaimoana and, as this report shows, the reputation is richly deserved,” Mr Jones says.