NZ Hospitality Sector in Distress

  • May 11, 2020 NZST
  • Team Kalkine
NZ Hospitality Sector in Distress

As per Stats NZ, card spending on hospitality fell significantly in April 2020. The spending on eating out and staying away from home was nearly negligible during April due to lockdown amid COVID-19.

  • Spending on cafes, bars, restaurants and takeaway food dropped 95% compared to pcp. This was after a 29% plunge in March 2020 compared to pcp.
  • Expenditure on businesses like motels, hotels and other such accommodation diminished 94% compared to pcp. In March 2020, the sector witnessed fall of 37% compared to pcp.

After shutting down of borders on 19 March, travel agency spending plunged in April. The seasonally adjusted spending on tour and travel diminished 82% in April 2020.

 


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