Tag: Tourism

Q2 GDP Surge Exceeds Expectations

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Stats NZ has announced that the economy grew by an unprecedented 2.8% in the second-quarter ending in June. Economists had earlier predicted growth of between 1.1 to 1.5%, comparable to the 1.4% growth registered in the first quarter that ended in March this year. The Reserve Bank of New Zealand…

Increased Excise Rate to Worsen Small Wineries Woes

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From July 1, small wineries will see excise rates on domestic wine sales increase by 1.5%. This will amount to a further excise tax of about $2.33 per bottle and $28 per case of 12 bottles. The new rate is expected to worsen the situation for an estimated 300 small…

Queenstown Tourism Economy Struggles Amid Lack Of International Visitors

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Queenstown Lakes Mayor, Jim Boult, anticipates that many businesses could end up boarded up by the time international visitors return to the tourism hub. This is supported by a recently released report by the Treasury that indicates that Otago and Southland will be amongst the hardest hit regions by the…