Tourism is a key driver of this economic outlook

Article Excerpt

New Zealand has become known worldwide as “Middle Earth” since the release of The Lord of the Rings and The Hobbit movie trilogies. These films grossed an estimated $5.8 billion. The spectacular scenery that provided the backdrop for these films attracts tourists from across the globe to visit the sites. While the Lord of the Rings movies have introduced New Zealand to many film buffs, the country not only offers magnificent scenery, but also excellent wines, 29 million sheep, and the tourism draw of its world-beating rugby team, and the players’ famous “Haka” dance. New Zealand’s 10 wine regions are spread mostly around the eastern coastlines of both the North and South Islands. Each region has distinct soils and climatic conditions, which create a diverse range of wines. These wines are world-renowned, with most of the production exported. Revenue is $2 billion annually. For sports buffs, the New Zealand rugby team is a formidable force in world rugby and has been crowned world champions three out of the last nine…