New Zealand Visitor Arrivals Leapt After Having Dropped

The number of tourists choosing New Zealand as their destination rose in April, by 2.4% after having dropped in March. This comes during a month in which the country’s currency became more affordable to those abroad. It fell 2.07% on a trade-weighted basis during April. Tourists probably had more cash in their pockets in nominal terms as well. During March, global equities, as indicated by the MSCI World Index, rose 12.80%. As such, overall global sentiment may have increased, allowing consumers the confidence required to take-on discretionary expenses such as traveling.