SPENDING BY TOURISTS

New Zealand Herald, Volume LXXIV, Issue 22619, 6 January 1937, Page 13

SPENDING BY TOURISTS

NEW ZEALANDERS ABROAD REVIEW BY STATISTICIAN [BY TELEGRAFH—OWN- OORHKSrONDKN'r] AYELLINGTON, Tuesday A sum of £2,053,000 spent by New Zealanders who were tourists in other countries is shown in an analysis of New Zealand's overseas payments. The Government Statistician, endeavouring to analyse the Dominion's income and expenditure in this sphere, gives credit for £796,000 spent by tourists who arrived in New Zealand during 1936. Where the country achieves a substantial credit balance is in its receipts for exported commodities. During the year ended March .'sl these were valued at New Zealand ports, tree on board, at £12,236.000 more than the merchandise imported during the same period, this being valued at cost, in the country of shipment, plus 10 per cent to cover freight and other charges. Freight on the country's exported products is a large item, estimated at £6.000.000 sterling, and earned mostly by British vessels. This figure does not enter into the statistician's balance. The credit earned overseas was heavily reduced by interest payments to outside investors. Governmental debt involved interest of £0,803.000, local body debt cost £936,000, and approximately another £1.000.000 was paid on private debts and investments held overseas.