Luxon: Trade and tourism are key to economy

• By Christopher Luxon, Prime Minister

New Zealand’s trade and tourism sectors continue to go from strength to strength, driving billions into the economy.

New figures show tourism spending reached $46.6 billion in the year to March, 2025, while exports surged to $29.2b in the December quarter, up $2.2b on the same period last year.

Tourism and trade are two of New Zealand’s most important economic drivers. When they grow, businesses expand, creating jobs and lifting wages across the country.

More trade and tourism is part of our long-term plan to fix the economy and get it growing so Kiwis can better manage the cost of living through more job opportunities and higher wages.

We’ve reduced income tax so hardworking New Zealanders keep more of what they earn.

At the same time, we’ve reined in wasteful Government spending, saving more than $21b on unnecessary costs such as excessive use of consultants.

This has helped lower inflation to 3.1 per cent and lower mortgage rates, meaning households with an average mortgage are saving around $10,000 a year.

Rents are also beginning to fall for the first time in a decade.

Alongside growing trade and tourism, our economic growth plan includes building new roads, schools, and hospitals and cutting red tape that slows businesses – to create jobs and increase wages.

Trade remains vital to the economy, supporting one in four New Zealand jobs.

There are signs our plan is working. The economy is now growing, and it’s expected an additional 240,000 new jobs will be created over the next four years, with wages rising faster than inflation.

A Labour, Te Pāti Māori and Green Government would take New Zealanders backwards with more spending, more borrowing and more tax.

A growing economy is the key to easing the cost of living and helping Kiwis get ahead.