Grant Cleland in the November Monthly Economic Review focused on the Tourism Industry in New Zealand. Here are some figures which outline its importance to the New Zealand economy.
The direct value-added contribution to GDP of the tourism industry was $7,250 million in the year ended March 2013, or approximately 3.7 percent of GDP. When the indirect value-added effects* of $9,805 million are included, the total contribution of the tourism industry was 8.7 percent of GDP. The contribution of the tourism industry to GDP (including both direct and indirect contributions) peaked at 9.9 percent in the year ended March 2003.
International tourism expenditure in the year ended March 2013 contributed 16.1 percent of New Zealand’s export receipts of both goods and services for that year. As such, it is one of New Zealand’s largest export earners. Statistics New Zealand ranked international tourism export receipts second in terms of export value, behind dairy products (including casein) which had exports totaling $12,349 million in the year ended March 2013. Meat and meat product exports equaled $5,279 million in the March year.
* these are the intermediate purchases of the ‘accommodation’ and ‘cafes and restaurants’ industries include items such as electricity, bedding, and food purchased from other industries or imports. Source: Statistics New Zealand.