New Zealand’s tourism industry is preparing for a drop in visits from Britain and the United States.
The New Zealand Herald says the industry fears the effects of the financial crisis in those countries will stop their people travelling overseas.
After a decade long boom, tourism is now New Zealand’s biggest earner of foreign dollars.
The newspaper says there is no historical precedent for exactly what sort of slowdown to expect or how dramatically it will impact on jobs and earnings.
It says not only are world’s richest economies on the brink of recession, but high oil prices are forcing airlines to cut capacity and raise ticket prices.