{"id":571672,"date":"2022-03-28T07:34:15","date_gmt":"2022-03-28T05:34:15","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=571672"},"modified":"2022-03-28T07:34:15","modified_gmt":"2022-03-28T05:34:15","slug":"bad-news-for-south-africans-wanting-to-travel-to-new-zealand","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/wealth\/571672\/bad-news-for-south-africans-wanting-to-travel-to-new-zealand\/","title":{"rendered":"Bad news for South Africans wanting to travel to New Zealand"},"content":{"rendered":"

New Zealand will lose more people than it gains after its border reopens, exacerbating a labor shortage and damping economic growth, according to Kiwibank.<\/p>\n

The country could lose as many as 20,000 people by the end of the year, a net migration outflow not seen since 2011, Kiwibank economists said in a research note published on Monday.<\/p>\n

\u201cWe\u2019ll see more people leaving than coming into the economy, so that\u2019s a dampener on consumption in general,\u201d said Kiwibank chief economist Jarrod Kerr. It\u2019s also \u201cgoing to make finding workers even harder,\u201d he said.<\/p>\n

\"\"<\/a>
\nWhile New Zealand will begin to reopen its border next month, people from countries that require a visa, such as China, India and South Africa, won\u2019t be allowed in until October under current government guidelines. Kiwibank said that prior to the pandemic, those nations were the three main sources of long-term foreign arrivals.<\/p>\n

At the same time, more New Zealanders may choose to head abroad for their \u201cO.E.\u201d – the working overseas experience considered a rite of passage for young Kiwis – because there will no longer be a requirement for them to isolate on their return.<\/p>\n

The border has been closed for over two years to keep Covid-19 out, creating a labor shortage in industries that rely on migrant workers. That in turn is contributing to faster inflation as companies pay higher wages to retain staff.<\/p>\n

A migration outflow may also add further downward pressure to house prices through reduced demand, Kerr said.<\/p>\n

However, he expects the situation to reverse after the border reopens to all countries, eventually resulting in an annual net migration gain of about 30,000 from next year.<\/p>\n

\u201cThat\u2019s higher than the long-term average, but well down from pre-Covid highs,\u201d Kerr said.<\/p>\n

\n

Read: Big hiring drive expected in South Africa in the coming months<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

New Zealand will lose more people than it gains after its border reopens, exacerbating a labor shortage and damping economic growth, according to Kiwibank.<\/p>\n","protected":false},"author":59,"featured_media":318090,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9880],"tags":[26,16738],"class_list":["post-571672","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wealth","tag-headline","tag-kiwibank"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/571672","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=571672"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/571672\/revisions"}],"predecessor-version":[{"id":571684,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/571672\/revisions\/571684"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/318090"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=571672"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=571672"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=571672"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}