Economic double bubble
Australia and New Zealand have opened a travel bubble for flights between the two nations, because they both have the pandemic under control and are safe. Until they're not, that is.
According to the prime ministers of both countries, the bubble is expected to deliver a lift to both economies
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"It is truly exciting to start quarantine-free travel with Australia. Be it returning family, friends or holiday-makers, New Zealand says welcome and enjoy yourself," Ms Ardern said. The country relies on Australia for 40% of its international tourism, injecting about NZ$2.7bn (£1.4bn, $1.9bn) into the economy. In the other direction, New Zealanders accounted for 1.3 million arrivals to Australia in 2019, contributing A$2.6bn (£1.46bn; $2bn) to the Australian economy.
So, if I have this correct, New Zealander tourists contribute as much to Australia's economy as Australian tourists contribute to New Zealand's economy. Net zero, give or take. And this is an economic lift
? (confused)
Okay then.