New Zealand’s tourism and entertainment industry recently received a massive boost with the injection of $70 million by the government.
The bulk of the money will go towards securing renowned international acts and sports tournaments.
The investment will spur the national economy via tourism. Read on as we take a closer look at why the move is being lauded as a game-changer for New Zealand.
A Competitive Pitch to the World
Prime Minister Christopher Luxon described the investment as ‘a competitive pitch to the world’, one that signifies that NZ is ready to go toe to toe with other nations for global events.
The fund includes $40m set aside for attracting major international events. There are also allocations for tourism campaigns, infrastructure upgrades and event boosting.
International stars such as Kendrick Lamar, Lady Gaga and Oasis staged concerts in Australia instead of New Zealand in recent years, primarily due to logistical costs and lack of incentives.
This investment is designed to change the status quo. The new financial backing and confidence from the government will encourage promoters to approach international agents with serious offers.
This move is not only designed to excite locals, but is a structural shift that will transform how New Zealand markets itself to the world.
Big events are massive drivers for tourism and can deliver long-term branding value. Every concert or major sports event will be an advert that further reiterates New Zealand as a must-visit destination.
Eden Park at the Heart of the Action
The most iconic stadium in New Zealand, Eden Park, will be the centre of international events over the next few years.
Since being refurbished for the 2011 Rugby World Cup, the venue has become a staple in NZ sports, generating over $1 billion in economic benefits to the Auckland region.
The new investment will only further reinforce the stadium as an international entertainment hub.
The stadium will host the 2026 Indian men’s cricket tour, the 2027 Women’s British & Irish Lions Tour, the 2028 ICC Men’s T20 World Cup, and the 2029 Men’s Lions Tour.
Many travellers from the United Kingdom will be tempted to make the trip to New Zealand to watch these showpiece events. They often stay for weeks, watching their team in different venues.
These visitors will spend their foreign currencies on accommodation, food, excursions and sports betting. Wagering is one of the key ways fans stay engaged with professional sports.
During sports events in New Zealand, betting platforms will be inundated with wagers from locals and international visitors.
Many punters will also play online casino games during their visit. The top 10 online casinos in New Zealand will benefit from an uptick in activity triggered by an influx of new players.
The associated sportsbooks will also attract more traffic, creating further opportunities for gambling operators to maximise revenue.
A Tourism and Hospitality Revival
Hospitality New Zealand interim chief executive, Nick Keene, praised the government for recognising that large scale events spur economic growth.
New Zealand’s tourism sector has been bogged down since the COVID-19 pandemic and its recovery is slow, but this investment can be a catalyst for a revival.
Regional tourism bodies are also expected to enjoy a considerable boost with $10m earmarked for tourism campaigns around Oceania.
Smaller centres, such as Dunedin, Hamilton and Queenstown, will benefit from an increase in visitors thanks to spill overs from Auckland and Wellington.
When international acts or sports tournaments include multiple stops, the effect trickles down to the local economy and sets the entire country up for long-term growth, creating a self-sufficient system.
Live Nation NZ managing director Mark Kneebone lauded this initiative as an acknowledgement and understanding of the wider economic and social impact major events bring.
Some people have urged caution because the results may not begin to show until after two or three years, but momentum is already building. Metallica will play later this year, while Ed Sheeran is slated for 2026.
This investment will ensure Kiwis have more experiences to enjoy at home instead of flying to Sydney and Melbourne, bolstering domestic tourism.