Tourism Recovery A Boon for Hamilton STR investors
The COVID-19 pandemic significantly impacted global tourism, and Hamilton was no exception. However, recent data from Stats NZ indicates a promising recovery trend in international visitor arrivals, suggesting a positive outlook for Hamilton's tourism sector.
National Tourism Recovery
According to Stats NZ, overseas visitor arrivals reached 2.80 million in the year ending August 2024, an increase of 2.2 million from the same period in 2021.
Tourism Export Council of New Zealand's (TECNZ) April 2024 international arrival forecasts 2024-2026 predict that by year end (YE) March 2025 pre-Covid arrivals would be 88% and by YE March 2026 NZ would be back to 100% of pre-Covid arrivals.
Implications for Hamilton
While specific data for Hamilton is limited, the national resurgence in tourism is likely benefiting the city. Hamilton's attractions, such as the renowned Hamilton Gardens, the scenic Waikato River trails, its proximity to the Hobbiton Movie Set and Waitomo Glowworm Caves, make it a compelling destination for international visitors. The increase in tourist numbers suggests that local businesses, including hotels, restaurants, and tour operators, are experiencing a revival.
Short-Term Rental Market Occupancy and Daily Rates on the Rise
In tandem with higher tourism numbers, Aspire PRO Enterprises (Aspire) has experienced an uplift in occupancy at its properties, with an 85% occupancy rate for the last two months.
Looking Ahead
As global travel continues to normalise, Hamilton's tourism sector is poised for further growth. Ongoing efforts to promote the city's unique attractions and enhance visitor experiences will be important in sustaining this positive momentum.
By capitalising on the current recovery trends, Hamilton and its STR rentals can strengthen their position.
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