Consumer spending up

Figures are evidence of value to region of tourism.

Figures are evidence of value to region of tourism.

CONSUMER spending here continues to increase, with spending totalling more than $40 million on credit and debit cards just last month.

Latest figures from Paymark, which processes more than 75 percent of all electronic transactions, show that consumers spent a total of $89.3m across the Paymark network in the first three months of this year, a rise of 4.7 percent from the same period last year.

That came on the back of a 7.4 percent rise in the number of transactions — nearly one million of which came in March when Paymark processed $41.4m worth of transactions. That was a 6.3 percent rise from the same month in 2016.

Heart of Gisborne city manager Lana Davy said the figures were evidence of the value to the region of tourism and the cruise ship industry.

“It’s really positive to see the large increases this year.

“I am happy to say that I believe a lot of it is due to tourist spend, definitely partly cruise.

“I am looking forward to seeing that again next year.”

Ms Davy pointed out the more events there were to attract tourists, the better it would be for the region’s economy.

“We need to remember that every out-of-town or overseas dollar spent is a boost to our economy.”

Attracting more iconic events to Gisborne would attract visitors and help them to stay longer to enjoy Gisborne.

A Paymark spokesman said nationally, regional New Zealand led the way in terms of spending growth through Paymark over the past quarter.

“Underlying spending growth was highest outside of the major centres, moderate in the major centres and generally low in the top half of the South Island.

“Highest underlying annual spending growth between March quarters 2016 and 2017 was in Bay of Plenty (+8.5 percent), Hawke’s Bay (+8.1 percent) and Nelson (+7.8 percent). Lowest growth rates were recorded by Marlborough (-2.8 percent), including Kaikoura, South Canterbury (+3.6 percent) and West Coast (+3.8 percent).

“The nationwide growth rate was 5.7 percent.”

CONSUMER spending here continues to increase, with spending totalling more than $40 million on credit and debit cards just last month.

Latest figures from Paymark, which processes more than 75 percent of all electronic transactions, show that consumers spent a total of $89.3m across the Paymark network in the first three months of this year, a rise of 4.7 percent from the same period last year.

That came on the back of a 7.4 percent rise in the number of transactions — nearly one million of which came in March when Paymark processed $41.4m worth of transactions. That was a 6.3 percent rise from the same month in 2016.

Heart of Gisborne city manager Lana Davy said the figures were evidence of the value to the region of tourism and the cruise ship industry.

“It’s really positive to see the large increases this year.

“I am happy to say that I believe a lot of it is due to tourist spend, definitely partly cruise.

“I am looking forward to seeing that again next year.”

Ms Davy pointed out the more events there were to attract tourists, the better it would be for the region’s economy.

“We need to remember that every out-of-town or overseas dollar spent is a boost to our economy.”

Attracting more iconic events to Gisborne would attract visitors and help them to stay longer to enjoy Gisborne.

A Paymark spokesman said nationally, regional New Zealand led the way in terms of spending growth through Paymark over the past quarter.

“Underlying spending growth was highest outside of the major centres, moderate in the major centres and generally low in the top half of the South Island.

“Highest underlying annual spending growth between March quarters 2016 and 2017 was in Bay of Plenty (+8.5 percent), Hawke’s Bay (+8.1 percent) and Nelson (+7.8 percent). Lowest growth rates were recorded by Marlborough (-2.8 percent), including Kaikoura, South Canterbury (+3.6 percent) and West Coast (+3.8 percent).

“The nationwide growth rate was 5.7 percent.”

Your email address will not be published. Comments will display after being approved by a staff member. Comments may be edited for clarity.

Poll

  • Voting please wait...
    Your vote has been cast. Reloading page...
    The region’s roads are in a bad state and need greater investment. What options would you prefer to increase the amount of local money committed to roading?

    Choose in order of preference, selecting just the options you think are worth considering and rate your preferred option as 1, next 2, etc.

    See also:
    Roading crisis ‘too big’, August 11 lead story

    Select multiple options. Press 'Clear' button to start over.
    Clear