Travel & Tourism - New Zealand | Statista Market Forecast

The revenue in the Travel & Tourism market of New Zealand is expected to reach US$2.09bn by 2024.
Moreover, the market is anticipated to show a CAGR of 3.82% from 2024 to 2029, resulting in a projected market volume of US$2.52bn by 2029.
Within the market, the largest market is the Hotels market, which is expected to have a projected market volume of US$914.80m in 2024.
It is predicted that by 2029, the number of users in Hotels will reach 3.17m users.
The user penetration rate is expected to rise from 63.9% in 2024 to 75.4% by 2029.
The average revenue per user (ARPU) is anticipated to be US$620.60 in the country.
In addition, 76% of the total revenue in the Travel & Tourism market is expected to be generated through online sales by 2029.
Lastly, in comparison to other countries, United States is projected to generate the most revenue, which is expected to reach US$214bn in 2024.
New Zealand's Travel & Tourism market is heavily reliant on international visitors, which has been impacted by COVID-19 restrictions.

Definition:

The Travel & Tourism market encompasses a diverse range of accommodation services catering to the needs and preferences of travelers. This dynamic market includes package holidays, hotel accommodations, private vacation rentals, camping experiences, and cruises.

Structure:

The market consists of five further markets.

The Cruises market covers multi-day vacation trips on a cruise ship. The Cruises market encompasses exclusively passenger ticket revenues.
The Vacation Rentals market comprises of private accommodation bookings which includes private holiday homes and houses as well as short-term rental of private rooms or flats.
The Hotels market includes stays in hotels and professionally run guest houses.
The Package Holidays market comprises of travel deals that normally contain travel and accommodation sold for one price, although optional further provisions can be included such as catering and tourist services.
The Camping market includes bookings at camping sites for pitches using tents, campervans, or trailers. These can be associated with big chains or privately managed campsites.

Additional Information:

The main performance indicators of the Travel & Tourism market are revenues, average revenue per user (ARPU), users and user penetration rates. Additionally, online and offline sales channel shares display the distribution of online and offline bookings. The ARPU refers to the average revenue one user generates per year while the revenue represents the total booking volume. Revenues are generated through both online and offline sales channels and include exclusively B2C revenues and users for the above-mentioned markets. Users represent the aggregated number of guests. Each user is only counted once per year. Additional definitions for each market can be found within the respective market pages.

The booking volume includes all booked travels made by users from the selected region, independent of the departure and arrival. The scope includes domestic and outbound travel.

Prominent players in this sector include online travel agencies (OTAs) like Expedia and Opodo, as well as tour operators such as TUI. Specialized platforms like Hotels.com, Booking.com, and Airbnb facilitate the online booking of hotels and private accommodations, contributing significantly to the market's vibrancy.

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Bookings directly via the website of the service provider, travel agencies, online travel agencies (OTAs) or telephone

Business trips
Other forms of trips (e.g. excursions, etc.)

New Zealand, known for its stunning landscapes and outdoor adventures, has seen a significant growth in its Travel & Tourism market in recent years.

Customer preferences: Travelers in New Zealand are increasingly seeking unique and authentic experiences, moving away from traditional tourist hotspots to explore off-the-beaten-path destinations. There is a growing demand for sustainable and eco-friendly tourism options, with visitors showing a preference for activities that allow them to connect with nature and local culture.

Trends in the market: One notable trend in the New Zealand Travel & Tourism market is the rise of adventure tourism. Activities such as bungee jumping, skydiving, and hiking in the country's national parks have become increasingly popular among both domestic and international tourists. Additionally, there has been a surge in food and wine tourism, with travelers eager to sample local cuisine and visit vineyards across the country.

Local special circumstances: New Zealand's unique geographical features, including its snow-capped mountains, pristine beaches, and lush forests, make it a prime destination for outdoor enthusiasts. The country's Maori culture also plays a significant role in its tourism industry, with many visitors interested in learning about indigenous traditions and history.

Underlying macroeconomic factors: The growth in New Zealand's Travel & Tourism market can be attributed to several macroeconomic factors, including a strong national economy, government initiatives to promote tourism, and improved air connectivity with key international markets. Additionally, the country's successful management of the COVID-19 pandemic has boosted confidence among travelers, leading to an influx of visitors eager to explore all that New Zealand has to offer.

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and sales channels of hotels, vacation rentals, cruises, package holidays, and camping.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market. As a basis for evaluating markets, we use financial reports, the Global Consumer Survey, third-party studies and reports, data from industry associations (e.g., UNWTO), and price data of major players in respective markets. To estimate the number of users and bookings, we furthermore use data from the Statista Consumer Insigths Global survey. In addition, we use relevant key market indicators and data from country-specific associations, such as country-related GDP, demographic data (e.g., population), tourism spending, consumer spending, internet penetration, and device penetration. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates. Additionally, simple linear regression, Holt-Winters forecast, and exponential trend smoothing methods are applied. A k-means cluster analysis allows for the estimation of similar countries. The main drivers are tourism GDP per capita and respective price indices.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.

Business or corporate travel is the tourism segment that focuses on people who travel for work or professional purposes and the related tourism services. This branch also includes the meetings industry, which refers to business events, conferences, congresses, trade fairs, and exhibitions. According to the World Travel and Tourism Council (WTTC), business travel accounted for 20 percent of the global tourism expenditure in 2021. In that year, it was estimated that business travelers spent more than 740 billion U.S. dollars worldwide, with Chinese tourists topping the ranking of the biggest business travel spenders.