By Jill Varley

A new strategy formulated by Conventions & Incentives New Zealand (CINZ) plans to double New Zealand’s international business tourism spend to $500million by 2015.

“Business tourism injects around $1billion a year into the New Zealand economy — a figure that is poised for healthy growth over the coming months,” said CINZ chief executive, Alan Trotter.

He said Australia is New Zealand’s biggest source market for conferences and incentive business because of the two country’s proximity and comparable cultures.

“International conventions contribute $250 million a year to the economy and the balance comes from domestic business. The exchange rate is favourable, duty free prices are some of the cheapest in the world and they still get an international trip for basically the same [cost] as a domestic Australian one,” he said.