Latest news with #RotoruaNZ
RNZ News
04-06-2025
- Business
- RNZ News
Rotorua tourism, hospo businesses concerned about exchange rate fluctuations
The Rotorua Museum - Most survey respondents were from tourism, accommodation, or hospitality and food service. Photo: LDR / Laura Smith The latest Rotorua business sentiment survey shows local companies are not immune to global instability. Geopolitical volatility was the highest-ranked concern for business leaders, with 43 percent very or extremely concerned about its effect on their business. This was the first time global concerns had outweighed local issues, such as finding skilled staff, the survey showed. RotoruaNZ chief executive Andrew Wilson said this showed many business leaders were very connected with their global markets. Most respondents were from tourism, accommodation, or hospitality and food service. While these might be less affected by tariffs then export-led industries, Wilson said geopolitical volatility led to fluctuations in exchange rates, which effected the value of a visitor dollar. "Obviously, when we've got a weaker New Zealand dollar, we look very favourable for international tourism." He said the key for businesses riding out this volatility was having diversity in the markets they targeted. "Within those international markets, have you got a good spread in terms of the types of countries you are focused on, so you're not ending up in a scenario where you've got all your eggs in one basket." This was similar to other industries, like agriculture , which was also encouraged to look for new markets. Wilson said he wasn't completely surprised to see the survey result. "We've got a local economy, which is quite export-focused, so from that perspective, whether it is tourism or forestry or wood processing, what's happening in that global environment is really important for local businesses." RotoruaNZ began the business sentiment survey three years ago to get a better view of what was happening in the city's economy. "A lot of banks do business confidence surveys, but we found a lot of the data was aggregated up at a regional or national level, so it was really about making sure we've got a view about what is going on in our local economy here in Rotorua," he said. Business sentiment was up 14 percent since the last survey in October 2024, but was still a net negative of minus-11 percent - higher than the national figure of minus-29 percent, but Wilson said the trend toward positivity was a good sign. "Certainly, that advance-metric of the positivity trend up is a really good signal in terms of what we will start to see over the next 12-24 months in terms of business activity." Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
RNZ News
31-05-2025
- Business
- RNZ News
Rotorua tourism, hospo businesses concered about exchange rate fluctuations
The Rotorua Museum - Most survey respondents were from tourism, accommodation, or hospitality and food service. Photo: LDR / Laura Smith The latest Rotorua business sentiment survey shows local companies are not immune to global instability. Geopolitical volatility was the highest-ranked concern for business leaders, with 43 percent very or extremely concerned about its effect on their business. This was the first time global concerns had outweighed local issues, such as finding skilled staff, the survey showed. RotoruaNZ chief executive Andrew Wilson said this showed many business leaders were very connected with their global markets. Most respondents were from tourism, accommodation, or hospitality and food service. While these might be less affected by tariffs then export-led industries, Wilson said geopolitical volatility led to fluctuations in exchange rates, which effected the value of a visitor dollar. "Obviously, when we've got a weaker New Zealand dollar, we look very favourable for international tourism." He said the key for businesses riding out this volatility was having diversity in the markets they targeted. "Within those international markets, have you got a good spread in terms of the types of countries you are focused on, so you're not ending up in a scenario where you've got all your eggs in one basket." This was similar to other industries, like agriculture , which was also encouraged to look for new markets. Wilson said he wasn't completely surprised to see the survey result. "We've got a local economy, which is quite export-focused, so from that perspective, whether it is tourism or forest or wood processing, what's happening in that global environment is really important for local businesses." RotoruaNZ began the business sentiment survey three years ago to get a better view of what was happening in the city's economy. "A lot of banks do business confidence surveys, but we found a lot of the data was aggregated up at a regional or national level, so it was really about making sure we've got a view about what is going on in our local economy here in Rotorua," he said. Business sentiment was up 14 percent since the last survey in October 2024, but was still a net negative of minus-11 percent - higher than the national figure of minus-29 percent, but Wilson said the trend toward positivity was a good sign. "Certainly, that advance-metric of the positivity trend up is a really good signal in terms of what we will start to see over the next 12-24 months in terms of business activity." Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
NZ Herald
29-05-2025
- Business
- NZ Herald
Rotorua survey: Business confidence up, focus on air connectivity and growth
Air connectivity and a greater collaboration between business, key stakeholders, and local and central government are common themes in the latest Rotorua Business Pulse Survey. The twice-yearly survey was released this week by RotoruaNZ and the Rotorua Business Chamber, who said in a press release that it reflected a 'greater
Scoop
27-05-2025
- Business
- Scoop
Rotorua Bucks National Trends With Growth Across Key Economic Indicators
The city has recorded a 1.4% increase in guest nights a strong contrast to the national decline of 2.7%. Rotorua is standing out from the rest of the country, according to the latest Infometrics Quarterly Economic Monitor, with the district recording positive movement across several key areas, despite a challenging national economic environment. The city has recorded a 1.4% increase in guest nights – a strong contrast to the national decline of 2.7%. The housing market is the standout area, with residential consents in Rotorua surging by 40%, compared to a national decline of 3.3%. House values rose by 3.8% (against a national drop of 2.1%) and house sales jumped 15.7%, exceeding the national growth rate of 12.5%. These results point to growing confidence in the local property market. Rotorua Lakes Council, GM destination development, Jean-Paul Gaston said, 'Increases in the average residential rent in the district of 4.4% in the year to March 2025 (higher than the national increase of 2.7%) highlight sustained demand and the need to encourage further housing development.' Further positives include a reduction in greenhouse gas emissions by 1.3%, ahead of the national decrease of 1.0%, and growth in new businesses, with business unit numbers lifting by 0.5%. RotoruaNZ chief executive Andrew Wilson says the results signal a positive trajectory for the district. 'The numbers are a strong indication that Rotorua is heading in the right direction. Despite the national context, we're seeing resilience and renewed energy in our tourism and housing sectors. The growth in guest nights and tourism spending speaks to Rotorua's enduring appeal, and the uplift in residential development and house sales reflects real confidence in our future. 'We still have work to do, especially around employment, but the momentum is shifting, and these results highlight the strength of Rotorua as a great place to live, visit and invest in.' Rotorua Mayor Tania Tapsell said, 'These positive results are massive news for Rotorua and shows how focused and committed we've been to ensure the best future possible for our community. 'We've not only turned Rotorua around but managed to rise above the bar and boost our local economy through smart investment to grow much needed housing, as well as achieving standout statistics in our visitor economy.' The full Infometrics Quarterly Economic Monitor report for the March 2025 quarter can be found here at: About RotoruaNZ RotoruaNZ is a values-led organisation committed to developing and promoting Rotorua as a destination of choice to work, study, visit, invest and live in. We connect people, land, capital and ideas. Our work directly supports the development of the Rotorua economy, unlocking opportunities for commercial investment and providing employment, wealth and wellbeing for all our people. RotoruaNZ works in partnership with iwi, the private sector, community organisations, and local and central governments to support the growth aspirations of Rotorua and enhance the city's identity and reputation.
Scoop
27-05-2025
- Business
- Scoop
Rotorua Bucks National Trends With Growth Across Key Economic Indicators
Rotorua is standing out from the rest of the country, according to the latest Infometrics Quarterly Economic Monitor, with the district recording positive movement across several key areas, despite a challenging national economic environment. The city has recorded a 1.4% increase in guest nights – a strong contrast to the national decline of 2.7%. The housing market is the standout area, with residential consents in Rotorua surging by 40%, compared to a national decline of 3.3%. House values rose by 3.8% (against a national drop of 2.1%) and house sales jumped 15.7%, exceeding the national growth rate of 12.5%. These results point to growing confidence in the local property market. Rotorua Lakes Council, GM destination development, Jean-Paul Gaston said, 'Increases in the average residential rent in the district of 4.4% in the year to March 2025 (higher than the national increase of 2.7%) highlight sustained demand and the need to encourage further housing development.' Further positives include a reduction in greenhouse gas emissions by 1.3%, ahead of the national decrease of 1.0%, and growth in new businesses, with business unit numbers lifting by 0.5%. RotoruaNZ chief executive Andrew Wilson says the results signal a positive trajectory for the district. 'The numbers are a strong indication that Rotorua is heading in the right direction. Despite the national context, we're seeing resilience and renewed energy in our tourism and housing sectors. The growth in guest nights and tourism spending speaks to Rotorua's enduring appeal, and the uplift in residential development and house sales reflects real confidence in our future. 'We still have work to do, especially around employment, but the momentum is shifting, and these results highlight the strength of Rotorua as a great place to live, visit and invest in.' Rotorua Mayor Tania Tapsell said, 'These positive results are massive news for Rotorua and shows how focused and committed we've been to ensure the best future possible for our community. 'We've not only turned Rotorua around but managed to rise above the bar and boost our local economy through smart investment to grow much needed housing, as well as achieving standout statistics in our visitor economy.' The full Infometrics Quarterly Economic Monitor report for the March 2025 quarter can be found here at: About RotoruaNZ RotoruaNZ is a values-led organisation committed to developing and promoting Rotorua as a destination of choice to work, study, visit, invest and live in. We connect people, land, capital and ideas. Our work directly supports the development of the Rotorua economy, unlocking opportunities for commercial investment and providing employment, wealth and wellbeing for all our people. RotoruaNZ works in partnership with iwi, the private sector, community organisations, and local and central governments to support the growth aspirations of Rotorua and enhance the city's identity and reputation.
