Buzz from the Beehive – PM broadcasts a bulletin about the breakdown of border barriers to boost tourist businesses

Good trade news has flowed from the office of Damien O’Connor in the form of a report showing how this country’s high-tech exports are faring in the United States.  But much better in terms of the immediate economic boost was news from the PM that the Government is bringing forward the date for opening the border to tourists in time for the Australian school holidays.

Accompanying this, Tourism Minister Stuart Nash announced a new tourism marketing campaign is being launched in Australia this week to build demand for travel here.

Nash’s statement gave no hint of the costs involved.  It did say:

  • Historically, 71 per cent of all international tourists who came to ski have been Australians, who generated more than $211 million in winter spending; and
  • The government will keep rolling out direct investment from its two tourism support packages worth $600 million in targeted spending. Further details are due shortly.

These announcements were timely.  The latest official statistics today show the seasonally adjusted current account deficit widened to $6.5 billion in the December 2021 quarter, from $4.7 billion in the September 2021 quarter.   Continue reading “Buzz from the Beehive – PM broadcasts a bulletin about the breakdown of border barriers to boost tourist businesses”

Team NZ’s rejection of public funding offer means around $100m won’t be sunk into America’s Cup defence

It’s full steam ahead for the economy, according to the latest GDP statistics and a  Finance Minister who eagerly drew attention to the new data.

Our farm industries, generally, are doing nicely, too, thank you, in spite of head winds which include a growing raft of government regulations.

But prospects of the America’s Cup being defended in this country are in the doldrums.  That’s bad news for yachting buffs (but great news for taxpayers).

GDP increased 1.6% in the first three months of 2021, much better than the Treasury forecast of a modest decline of 0.2% in May’s Budget or (with the benefit of more recent data) economic commentators’ forecast of an increase less than 1%.

Internationally, the OECD average was 0.3%.

The economy was 2.4% above where it was in the March quarter last year.

A measure of the strength of the food and fibres sector – or rather, a measure of the government’s confidence in the sector – can be discerned from two reports released at Fieldays in Mystery Creek. Continue reading “Team NZ’s rejection of public funding offer means around $100m won’t be sunk into America’s Cup defence”