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Bayleys Research


KAIKOURA PROPERTY FOCUS 2006

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KAIKOURA TOURISM

The unique combination of a seaside town and snow-capped mountain vistas makes Kaikoura a stunning destination on any tour of the South Island. Being located halfway between Picton and Christchurch, only two hours drive from an international airport and 40 minutes drive to ski fields, has encouraged the growth of commerce and population in Kaikoura. In addition, Kaikoura has been known as an eco-tourism destination for many years and continues to offer some of the best whale and dolphin watching tours anywhere in the world.

Tourist numbers, measured as the number of guest nights per year, has increased 74% over the past decade to 316,636 in the year to August 2006, according to information from the Ministry of Tourism (MoT). The number of guest arrivals, which is the number of people visiting Kaikoura, some of whom do not stay overnight, has increased 110% over the same period. The total number of guest nights has been growing steadily at between 1,200 and 1,500 additional guest nights per year and is forecast to continue growing at approximately the same level. The occupancy level of Kaikoura accommodation has also been increasing and has varied between 13% and 67% for the past six years (chart right). In the past two years the off-season accommodation occupancy rate has improved with the off-season occupancy up to 18%.

A key factor for the New Zealand international tourism market is the exchange rate, with a lower exchange rate encouraging tourists to visit the country as it becomes a ‘cheaper’ destination to visit. The success of The Lord of the Rings trilogy and a strong global economy encouraged guest night growth of 36% in the past three years. Many economists believe the New Zealand dollar will dip approximately 10% in the next 12 months, particularly if the Reserve Bank decreases the Official Cash Rate (OCR). This change could help Kaikoura tourism beat the solid 2%-5% per year growth forecast for the next three years.

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