The most important factor behind growth in New Zealand’s car rental category was the growth in tourist arrivals and expenditure – particularly for inbound arrivals – facilitated by the increased routes and capacity of international airlines. Inbound arrivals increased 5% to 3.7 million trips in 2017, which contributed to the positive performance of car rental during the year.
Car rental in New Zealand is expected to record a marginal value CAGR at constant 2017 prices during the forecast period to total NZD509 million in 2022. Growth is expected to be primarily driven by increasing tourist arrivals and spending. However, the domestic economic cycle reaching maturity and sluggish global growth will be a limiting factor for both leisure and business car rental. More international industry players are expected to enter the country as well as recent entrants, such Enterprise Holdings, to expand their presence in New Zealand. At GBO level, Avis Budget Group Inc and The Hertz Corp will face intensified price competition facilitated by the growing presence of online intermediaries. Nevertheless, financial resources will help major companies withstand price pressures created by new players and technology-based start-ups.
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Discover the latest market trends and uncover sources of future market growth for the Car Rental industry in New Zealand with research from Euromonitor's team of in-country analysts.
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This industry report originates from Passport, our Travel And Tourism market research database.