NZ MBIE reduces expected forecast of Chinese tourist spending by 30% year on year

New Zealand Ministry of Business, Innovation and Employment (MBIE) reduced the expected forecast of Chinese tourist spending by 30% year on year, due to "geopolitical risk" (Bloomberg, 15-May-2017). As previously reported by CAPA, the forecast released by the MBIE identified spending from Chinese visitors will reach NZD4.3 billion (USD3 billion) annually by 2023, with visitor numbers expected to reach just under one million per year by the end of the forecast period. China is expected to contribute to 37% of total international visitor growth from 2016 to 2023, and 51% of total visitor spending. [more - original PR]