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February 7, 2011 Australia – According to statistics in New Zealand, tourist arrivals hit a high record in December with 1.3% to 345, 700 from the same month a year earlier. Chinese tourist rose 21% to 14, 200 on that same month while Australians jumping across the Tasma rose 3% to 151, 400. On the contrary, British tourists dropped down at 9.1% to 36, 000 and American tourists sank 8.3% to 24, 200.

Economist at Goldman Sachs & Partners, Philip Borkin stated they questioned that timing effects associated with the Rugby World Cup (RWC) could be an influence in the weakness of New Zealand’s dollar.

After the swine flu incident, the tourism of New Zealand has benefited from the return of Asian visitors in 2009. National Carrier Air New Zealand has been trying to woo Australian and Chinese visitors in joint marketing ventures with the government and lifted its passenger numbers by almost 10% in December.

With 800 more people to enter the country than to leave in December, the net migration has stayed positive. It positive inflow of migrants still at 10, 500 is less than the half the 21, 300 in 2009. The number of New Zealanders leaving for Australia has exceeded the arrival of trans-Tasman by 21, 000.

Australia’s labour market is relatively attractive and will “underpin departures out of New Zealand as said by economist at ASB, Jane Turner. The low level of migration slowed down population growth and reduced demand for new housing construction. So the observed weakness in net migration is likely a key driver of low building consent issuance to date.
Local building consents dropped to the lowest level in December since April 2009. Residential property sector has spent most of last year in the doldrums amid a lack of appetite from new buyers.

source:
tvnz.co.nz