9 Mar 2010

Spending grows faster in regions

3:11 pm on 9 March 2010

New data suggests some regions are climbing out of the economic downturn by attracting more tourists.

Paymark, which handles more than three-quarters of New Zealand's electronic transactions, has released its figures for last month.

It dealt with transactions worth $3.4 billion in February, an increase of 2.3% on the same month last year.

Growth in Auckland, Northland, Christchurch and Wellington reached 1.8%, while overall the rest of the country experienced 3.4% increase.

Gisborne recorded an increase of 8.6%, Otago 5.6% and Waikato 4.6%.

Paymark says New Zealanders are spending their holiday dollars at home, and the Hospitality Association says organised events are drawing people to the regions.

Economist Shamubeel Eaqub says rising dairy returns are behind some of the improving fortunes.