The tourism sector will bear the brunt of the Christchurch and Japanese earthquakes, but a plunge in tourist arrivals should be short-lived and largely over by the middle of the year, says new research from Goldman Sachs & Partners New Zealand.
The tourist sector is a big part of our economy. And the tourist sector is largely serviced through international jet travel. And international jet travel keeps getting more expensive as the price of oil goes up.
If oil gets too expensive there are various alternatives for most forms of land transport. Electric cars, trains and other forms of public transport, biofuels and so on. But googling for practical alternatives to jet fuel reveals that this is something researchers are ‘looking into’, which isn’t encouraging. What happens to our tourist industry if civil war breaks out in Saudi Arabia and the cost of long-range air travel becomes prohibitive? Nuthin’ good.