New Zealand forecast of tourism earnings cut for 6 years

The Tourism Ministry has downgraded New Zealand's expected international tourism earnings by $3.6 billion in the next six years. The forecast by the ministry's research arm has chopped its outlook on international visitor arrivals and expenditure compared with forecasts made last year. Income from foreign visitors had been estimated at $52.2 billion for the 2007-12 period, but the new ministry forecast has reduced this to $48.6 billion.