The SME Stream

US Market expert Greg Boland with an update on the markets, following escalating conflict in the Middle East.

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Tourism continues to be a major force in the economy. 

Stats NZ says it shows tourism spending in New Zealand has hit $46.6 billion, up 3.3% on last year. 

International visitors spent $18.1 billion – a 7% jump. 

Tourism Industry Aotearoa CEO Rebecca Ingram told Mike Hosking this set of data runs until March 2025, and there’s been a tremendous amount of effort invested since then. 

She says they’re anticipating that the data they get next year will be even better. 

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The Electricity Authority is being accused of tinkering around the edges instead of solving the real issues with the electricity market.   

The authority will introduce a set of new rules from October 30th which will force power companies to tell customers if they're on the best plan they provide.  

Power company Electric Kiwi's Chief Executive Huia Burt told Mike Hosking that won't be enough for most. 

She supports customers having more information but says they will need to compare plans from different providers to get the best deal.  

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Business leader Fraser Whineray reveals his idea for KiwiSaver 2.0

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The conflict has seen oil prices jump, and could mean higher costs at the pump.

But Finance Minister Nicola Willis says it doesn't mean we need to re-think the Marsden Point oil refinery.

It ceased refining operations in 2022 and has been converted to an import-only fuel terminal.

Willis says it would still have needed to import the oil - but adds there's some resilience in the system.

"Last year, the Government made changes to regulations, which mean that fuel suppliers in New Zealand have to keep 28 days worth of fuel on supply."

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There's concerns about what the ongoing conflict in the Middle East could do for oil prices and inflation.

Iran's sent retaliation strikes across the Middle East after US and Israeli attacks killed their Supreme Leader, Ayatollah Ali Khamene.

Infometrics Principal Economist Brad Olsen unpacked the short and long term concerns.

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Debate suggests a change is needed

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The recent conflict in the Middle East has sparked concerns about the wide-reaching implications for the global economy.

The US and Israel launched strikes at Iran over the weekend, killing Ayatollah Khamenei - and Iran has since launched strikes from Tehran.

Harbour Asset Management expert Shane Solly explained further.

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Promising signs when it comes to consumer arrears. 

The latest Centrix data shows the number of people behind on their payments in January was 491 thousand. 

That was up 20 thousand from December, largely expected due to seasonal trends. 

But Chief Operating Officer Monika Lacey told Mike Hosking that despite the seasonal increase, arrears are still down on last year by almost 1%. 

She says overall, Kiwis are managing their money quite well. 

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Ethical investing seems to be a hot topic when it comes to choosing an investment fund or KiwiSaver provider. 

I've often heard providers boast that their fund is ethical - they avoid weapons manufacturers, focus on renewable and sustainable energy - you won't feel a possible sense of guilt around where your money is going. 

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