Rugby World Cup significant event for NZ economy

NEWS RELEASE DATE: 18 August 2011

Rugby World Cup significant event for NZ economy

The Reserve Bank has today published the first paper in a new ad hoc research series entitled Analytical Notes (http://www.rbnz.govt.nz/research/analytical/index.html).

Reserve Bank Head of Economics Dr John McDermott, said the inaugural paper (http://www.rbnz.govt.nz/research/analytical/an11_01.pdf) presents an analysis of the potential economic effects of this year's Rugby World Cup tournament.

"It describes the tournament as a significant event for the New Zealand economy, estimating it will attract 95,000 visitors to the country, who are likely to spend a total of $700 million on local goods and services," he said.

This first paper in the series comes as the Reserve Bank Museum launches a special 'Ruggernomics' exhibition in spring, showcasing currency from rugby playing countries around the world.

Dr McDermott said the Reserve Bank's new Analytical Notes series is designed to provide an outlet for research by Bank staff that does not fit into the brief of existing series such as the Reserve Bank Bulletin and Discussion Papers.

Those interested in signing up for email notification of new releases of Analytical Notes can do so at the Reserve Bank website.

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