New Zealand to charge foreign tourists to visit famous natural sites
Overseas visitors can expect to pay between NZ$20 (£8.87) and $40 (£17.75) to visit the sites. The measures, announced by prime minister Christopher Luxon and conservation minister Tama Potaka, are part of a plan to create more jobs and boost wages.
The first locations to introduce the charges will be Cathedral Cove / Te Whanganui-a-Hei, Tongariro Crossing, Milford Sound and Aoraki Mount Cook, where foreigners often account for 80 per cent of all visitors.
Conservation minister Tama Potaka said: 'Tourists make a massive contribution to our economy, and no one wants that to change.
'But I have heard many times from friends visiting from overseas their shock that they can visit some of the most beautiful places in the world for free.
'It's only fair that at these special locations, foreign visitors make an additional contribution of between $20 and $40 per person.'
'For the conservation estate that will mean up to $62m (£28m) per year in revenue, which will be directly re-invested into those same areas, so we can keep investing in the sites that underpin so much of our tourism sector,' Mr Potaka said.
The plan announced on Saturday 2 July highlighted missed opportunities for tourism on conversation estate due to 'outdated rules'.
Prime minister Christopher Luxon said: 'Many New Zealanders already run outstanding businesses on the conservation estate – from guided walks and ski fields, to filming documentaries, grazing sheep and cattle, or hosting concerts and building cell phone towers.
'But to do any of that, you need a concession – and the concessions regime is totally broken, often taking years to obtain or renew and leaving businesses in a cycle of bureaucratic limbo.'
Entry for New Zealanders would remain free.
The Prime Minister said: 'It's our collective inheritance and Kiwis shouldn't have to pay to see it.'
'If we're serious about keeping Kiwis at home, creating jobs, and increasing wages for all New Zealanders, we can't afford to keep saying no to every opportunity that comes our way,' Mr Luxon added.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
16 minutes ago
- Reuters
Mexico Congress to consider official for deputy finance minister
MEXICO CITY, Aug 12 (Reuters) - Mexican President Claudia Sheinbaum has nominated Maria del Carmen Bonilla to serve as deputy finance minister, a congressional committee agenda seen by Reuters on Tuesday showed. The committee will consider Bonilla's nomination in a Wednesday hearing, accoring to the agenda. Bonilla currently leads the finance ministry's public credit and international affairs unit.
Finextra
17 minutes ago
- Finextra
Raast and Pakistan's Digital Economy: How Instant Payments Are Reshaping the Nation's Financial Futu: By Muhammad Qasim
Pakistan's financial sector is in the middle of a transformation — one that is changing how money moves, how businesses operate, and how people interact with the economy. At the heart of this transformation is Raast, the State Bank of Pakistan's (SBP) instant, low-cost, and secure digital payment system. Launched with the goal of improving financial inclusion and reducing reliance on cash, Raast is not just a payment method; it's a game-changer for the country's digital economy. From street vendors to freelancers, from small retail shops to large corporations, and from government institutions to ordinary citizens — Raast is making transactions faster, cheaper, and more transparent. In this article, we'll explore what Raast is, how it works, its adoption trends, the explosive growth in transaction volumes, and how it is reshaping Pakistan's digital economy. What is Raast? Raast — meaning 'direct' or 'straight path' in Urdu — is Pakistan's first real-time payment system designed to provide instant, low-cost, and secure money transfers between individuals, businesses, and government entities. Unlike traditional bank transfers that can take hours (or even days), Raast processes payments in seconds, 24/7, across all participating banks and digital wallets. Key Features of Raast Instant transfers — Payments clear in real time, any time of day. Low or zero fees — Most banks offer Raast transfers free of charge. Mobile number–based transfers — Send and receive money without sharing long account numbers. Secure SBP infrastructure — Fully regulated and backed by the central bank. Supports bulk payments — Ideal for salaries, pensions, and government subsidies. Raast's Role in Pakistan's Digital Transformation Before Raast, Pakistan's payment systems were fragmented, with slow transfers and limited interoperability between banks. Digital transactions existed, but they were often expensive, unreliable, and inaccessible to rural populations. Raast has bridged this gap by: Encouraging cashless transactions — Reducing reliance on physical currency. Boosting financial inclusion — Extending access to millions without prior exposure to banking. Connecting e-commerce and gig economy platforms — Supporting instant settlements for small sellers and freelancers. Facilitating transparent government payments — Reducing corruption and leakage in welfare programs. Transaction Volumes: The Scale of Raast's Impact The success of Raast can be measured not only in adoption rates but also in the massive transaction volumes it processes. Latest Transaction Data According to the SBP's Q3 FY 2024–25 payment system statistics: Raast processed 371 million transactions worth PKR 8.5 trillion in just one quarter. Since launch, it has handled 1.5 billion transactions with a cumulative value exceeding PKR 34 trillion . Digital channels now account for 89% of all retail transactions by volume in Pakistan. Mobile banking, branchless wallets, and e-money accounts processed 1.686 billion transactions worth PKR 27 trillion in the same quarter. This exponential growth shows how deeply Raast is embedding itself into Pakistan's financial DNA. How Raast is Reshaping the Digital Economy 1. Fueling Financial Inclusion Raast has given millions of Pakistanis access to formal banking for the first time. Rural populations can now send and receive money instantly using just a phone. Microfinance institutions integrate with Raast, expanding their reach. Women and marginalized groups can transact without visiting physical bank branches. 2. Boosting Small Businesses and E-Commerce The e-commerce industry in Pakistan has grown rapidly, but one challenge was slow and expensive payment settlements. Raast changes this by: Allowing instant settlements for online vendors. Reducing the need for cash-on-delivery (COD), which previously accounted for 60–70% of e-commerce payments. Helping micro-merchants avoid costly point-of-sale infrastructure. 3. Empowering Freelancers and the Gig Economy Pakistan is among the top countries for freelance work, with millions earning online. Raast supports these workers by: Providing quick local payment settlements. Reducing transfer costs from local platforms. Enabling platforms to pay thousands of workers simultaneously. 4. Streamlining Government Payments Government agencies and welfare programs use Raast for: Ehsaas program payouts Salary and pension disbursements Subsidy transfers for fuel, food, and utilities By moving these payments to Raast, the government improves speed, reduces leakages, and increases transparency. 5. Reducing Cash Dependency Pakistan's economy has long relied heavily on cash. This creates problems like tax evasion, corruption, and inefficiency. Raast's growing popularity is a direct blow to cash dominance by: Offering a free, fast alternative to cash. Making digital transactions accessible even for low-income groups. Creating a financial trail that strengthens the formal economy. Case Studies: Real-World Impact of Raast Case 1: A Street Vendor in Lahore A chai seller who previously accepted only cash now uses Raast to receive payments directly to his bank account via mobile number. Customers can pay instantly, and he no longer worries about carrying large amounts of cash at night. Case 2: A Karachi-Based E-Commerce Store Before Raast, the store owner relied on COD, which caused delays and cancellations. After integrating Raast payments, settlements are instant, returns are lower, and customer trust has improved. Case 3: Government Subsidy Disbursement A small farmer in Sindh receives fertilizer subsidies via Raast directly into his account, cutting out middlemen and ensuring he gets the full amount. Challenges to Raast's Full Potential While Raast has made great strides, some hurdles remain: Digital Literacy Gaps — Many rural and older populations still need education on how to use Raast safely. Internet & Mobile Coverage — Remote areas lack consistent access to reliable mobile data. Cybersecurity Concerns — As transactions grow, so does the risk of fraud and phishing scams. Resistance to Change — Some people still prefer cash due to habit or distrust in banking. The Road Ahead: Future of Raast and Digital Payments in Pakistan The SBP has ambitious plans to expand Raast's scope: Merchant Payments — Making Raast the default payment method for retail transactions. Cross-Border Transfers — Enabling remittances through Raast in collaboration with global payment systems. QR Code Integration — Allowing small shops to accept payments simply by displaying a QR code. Open API Ecosystem — Encouraging fintech startups to build innovative apps using Raast's infrastructure. If these expansions succeed, Pakistan could see cashless transactions become the norm within a decade, dramatically increasing economic transparency and efficiency. Conclusion Raast is more than just a payment method — it's a pillar of Pakistan's digital transformation. By enabling instant, low-cost, and secure payments, it is helping formalize the economy, support small businesses, empower freelancers, and improve government efficiency. The transaction volume growth — from zero to over 1.5 billion transactions worth PKR 34 trillion in just a few years — is proof of its adoption and potential. With the right infrastructure, education, and security measures, Raast could lead Pakistan into a future where digital finance is not the exception but the default.
The Guardian
18 minutes ago
- The Guardian
The Guardian view on Labour's feelgood economy: it's not for everyone – especially the poorest
When Sir Keir Starmer told reporters last week that his government's upcoming budget would 'build on what we've done' by focusing on 'living standards' and 'making sure that people feel better off', it was clear that he was trying to shift the political narrative from soulless statistics to lived experience. But if the prime minister is serious, he should look at the latest forecast from the National Institute of Economic and Social Research (NIESR). The thinktank warns that while some households may indeed 'feel better off', many – particularly the poorest – will not. NIESR says real disposable income for the bottom tenth of households will fall this year. Living standards for the poorest fifth of Britain are well below their pre-pandemic level. This analysis rather deflates Treasury ministers' claims that real wages under Labour had risen more in 10 months than they had in the 10 previous years of Conservative government. This political attack line might be arithmetically sound, but to make it stick requires a generous statistical interpretation. What ministers have done is go back to the post-2010 austerity years, when real wages slumped after the financial crisis. Critics on social media have warned against cherrypicking time periods. They say real pay climbed gradually between 2015 and 2019 in the UK, but dropped again during the twin inflation shocks of Covid and the Ukraine war, before rebounding sharply after 2023. Ministers are scoring political points – but these are cheap given that there have been, so far, no significant changes in industrial policy, collective bargaining or public spending. In fact, real wage gains under Labour have been modest. Average weekly earnings in real terms were £523 last July and £527 this June – an increase of less than 1%. Hardly a new dawn for workers. More troubling is the distribution – which is masked by the use of average figures. Strong wage growth, says NIESR, has been concentrated in the tech and public sectors, where low‑paid workers are underrepresented. Above-inflation increases in minimum wage haven't compensated for reductions in working hours. No surprise then that the thinktank's data shows that middle- and upper-income households are seeing improvements in living standards, while the poorest are falling further behind. For these households, costs such as food and rent are rising faster than incomes. They won't feel better off – because they aren't. The upshot is that real personal disposable income rose by 4.1% in 2024-25, but the gains went almost entirely to better-off households. Today's unemployment figures show four-fifths of recent job losses concentrated in retail and hospitality – sectors that employ large numbers of low-paid workers. Clearly, for low-income families, the cost of living crisis has not abated. NIESR warns ministers to act – or risk letting the poorest slide into destitution. The country's problem lies in its imbalances. For many Britons, the modest post-pandemic recovery in real incomes has come about largely because inflation fell. But productivity growth remains anaemic, and the underlying economic model – which is financialised, service-heavy and regionally lopsided – is widening inequalities. If the next budget fails to offer anything more than supply-side tweaks or fiscal restraint in the name of credibility, Sir Keir will find that 'building on what we've done' is not enough. For the poorest Britons, what's been done so far doesn't look much like progress at all.
