The number of migrants and tourists visiting New Zealand reached a new high in July as the figure touched 69,000 in that month. Chinese, Australians and South Africans were said to be responsible for this island country witnessing so many overseas people arriving on its shores this month.
Overseas short-term visitors arriving in New Zealand till the year ending July 30 increased by 11 percent compared to the same period in the year prior to it to reach 3.34 million.
Because of these record arrivals of tourists and migrants, the country’s economy received a shot in the arm, despite the setbacks witnessed by the New Zealand’s agrarian sector owing to the declining prices of dairy products.
The data, however, shows that the number of net migrants arriving in the southern Pacific country fell from its peak of 6,200 witnessed in November 2015 to 5,600 in July.
Scoop.co.nz quotes the Treasury of New Zealand as saying that in the Budget it estimated that the annual net migration would peak at 70,700 in June before falling back to the average of 12,000, which has been the norm for a long period, by June 2019.
Daniel Snowden, an economist with the ASB Bank, said that though net migration is witnessing record levels now, there is evidence to suggest that it would fall. He expects arrivals from Australia to fall as its labour market is recuperating. But, at the same time, a considerable number of students from India and China are choosing to stay back in New Zealand,
According to Snowden, the surge in migration has been cushioning the NZ economy through greater demand for services and goods. Net migration is keeping the labour supply strong and reducing wage inflation pressures, though unemployment is on the wane, he added.
India tourist market, which Tourism New Zealand wants to boost, grew by 52 percent to 512 in July and rose annually by 24 percent to 24,752 in the year ended July 30.
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