New Zealand Visitor Arrivals up 14.8% as foreign visitors growth continues to slow

Joshua Gibson FXStreet

Foreign Visitor Arrivals in New Zealand climbed 14.8% for the year ended December, slowing from the previous period's 30.4%.

Stats NZ noted that the December 2023 number of overseas visitors is 79% of the pre-COVID-19 number of 528,200 from December of 2019.

Stats NZ also noted a surge in migrant arrivals in the country for the year ended December, with 254,700 people relocating to New Zealand versus the outflow of 128,700. Migrant arrivals surged 114% while outflows rose 36%.

About New Zealand Visitor Arrivals

The Visitor Arrivals released by the Statistics New Zealand measures the number of visitors to New Zealand. As the tourism industry dominates a large part of the total GDP, the visitor arrivals is an important indicator of the overall economic condition in New Zealand. Normally, a high reading is seen as positive (or bullish) for the NZD, while a low reading is seen as negative (or bearish).

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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