Threat seen to tourism
PA Wellington A danger of Japanese companies taking over the New Zealand tourist industry and taking out' the profits has been raised at a tourism seminar of the Japan Advisory Committee in Wellington. Several speakers cited the cases of Guam and Hawaii, where Japanese companies manage . local. tours for Japanese tourists, Mr N. J. Kirk. the Laboui Party’s spokesman on aviation, said that there had to be some caution about Japanese investment and that there should be an absolute limit to Japanese equity
participation in New Zealand hotels. It was also important that i more ski-fields were opened up in New Zealand, so that New Zealanders were not “chased off their own moun-. tains’’ and prices remained within the reach of ordinary New Zealanders. Mr Alan Langford, the corporate finance manager of the Development Finance Corporation, said it was important that New Zealand hotels had an international link and gave the example of the 450-bed Sheraton Hotel to be built in Auckland with a 20 per cent paticipation from the Sheraton chain.
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Press, 30 May 1981, Page 12
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176Threat seen to tourism Press, 30 May 1981, Page 12
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