India's economy is showing signs of a slowdown in the face of
the global debt crisis. With 11 interest rate increases in 18
months and growth slowing for the last five quarters, business
confidence in India is declining along with a drop in consumer
The Indian economy grew by 8.5 per cent in 2010 and is projected
to grow by 8.2 per cent in 2011. According to the Indian Economic
Advisory, the headline inflation rate will continue to be above
nine per cent for most part of 2011.
www.economist.com (GDP Growth)
www.xe.com (Exchange rates)
|Exchange Rate vs NZD
||INR 38 = NZD 1 (12 Sep 11)
|Expected GDP Growth
||+8.2% for 2011
+7.8% for 2012
More than 12 million Indians travelled abroad in 2010, up from
about three million in the mid-90s. The World Tourism Organisation
estimates about 50 million Indians will be taking overseas holidays
each year by 2020 (source: Financial Times).
Arrivals to New Zealand for year-end Dec 2011 were 4.2 per cent
down on the same period in 2010.
Tourism New Zealand-led local activity and joint ventures with
partners stimulated interest and demand for travel to New Zealand
over the summer/autumn season. Indian travellers remain at the
luxury end of the market, helping keep spend and yield high in this
At least two incentive groups travelled to New Zealand from India
in 2011 helping increase visitors overall.
The Indian outbound travel market is expected to be $35-$40
billion over the next five years from the current $12 billion
buoyed by a rapidly growing organised tourism market
Immigration New Zealand has opened its second office in India at
the New Zealand embassy in Mumbai to align with growing outbound
travel to New Zealand and expected growth in the next few
Capacity for Indian travellers coming to New Zealand via Hong
Kong and Singapore continues to improve.
Air capacity from India to New Zealand achieved incremental growth
with the addition of daily Jetstar flights to Auckland from
Singapore and Air Asia X flights to Christchurch from Kuala
The Spanish Tourism Board had a marketing tie-up with the
Bollywood movie 'Zindagi Na Mile Doobara' and Spain and its key
cultural and tourist elements were highlighted well in the hit
movie. Spain Tourism has also had a joint television marketing
campaign running on a number of TV channels which showcased the
The German National Tourist Office is working with selected tour
operators on joint promotional activities aimed at increasing the
visibility of Germany in India.
Tourism New South Wales is investing AUD 85,000 in two new
campaigns to attract wealthy Indian visitors to Sydney and NSW for
holiday experiences. It is running a major print advertorial and
magazine campaign in collaboration with Mercury Travel, in key
cities in India like Mumbai and Delhi.