The campervan tourism market is continuing its upward trajectory as New Zealand’s broader travel sector shows signs of sustained recovery, helping boost the financial performance of Tourism Holdings.
According to an article by RNZ, the company’s latest half-year results highlight the growing importance of rental demand, even as some parts of the recreational vehicle market face ongoing challenges.
Chief executive Grant Webster expressed optimism about the industry’s direction following the company’s strong first-half performance.
“The tourism sector here in New Zealand is in a really positive place. We’ve got some good actions that have been undertaken by the government over the last sort of 14 odd months,” Tourism Holdings (THL) chief executive Grant Webster said, following the release of a strong first half result.
Increased demand for campervan rentals played a significant role in lifting the company’s first-half net profit by 17 percent, while revenue rose 4 percent.
Despite the profit gains, expanding the company’s RV fleet contributed to higher costs that weighed on underlying earnings.
Forsyth Barr head of research Andy Bowley said thl saw a 46 percent decline in first-half gross profits from new RV sales, with margins falling 6.5 percent and sales volumes dropping 13 percent.
Currency movements also reduced the value of rental growth in New Zealand, particularly as the company increased fleet capacity ahead of the busy travel season and absorbed higher ownership expenses.
“Tourism Holdings reported a 1H26 result ahead of our expectations but with full year guidance that is unlikely to materially change current market expectations,” he said.
Webster acknowledged that new vehicle sales have remained a weak point for the company. “(It) has been our Achilles heel … and the growth in rentals hasn’t been able to outstrip that decline,” he said.
“What we are seeing is people are looking more at the used product. They’re trading down. We’re still looking for some recovery in that over the next sort of 12 to 18 months. But yes, the majority of our growth is definitely in the rentals business.”
The surge in rentals reflects a broader global travel trend favoring flexible, value-focused experiences. Webster said demand aligns with changing consumer priorities.
“People are looking more at what their discretionary spend can buy them,” he said. “And that’s definitely a theme for further recovery, just stabilisation and consumer confidence, GDP, growth, getting through, you know, just like we’re feeling in New Zealand at the moment, we’re getting through that tough time.”
International tourism is also strengthening, with Webster highlighting the country’s continued appeal.
“We’re a country that people want to come and visit,” Webster said. “So is Australia, and indeed, so is Canada. The USA, in terms of our markets, is the one that’s of concern, but we’ll put that to one side.”
Overseas visitor arrivals reached 3.51 million in the year ending December 2025, up by 196,000 compared with the previous year, led by gains from Australia, the United States, China and the United Kingdom.
Regional travel patterns are contributing to the positive outlook, with visitors exploring beyond major hotspots.
“We’re not getting any of the sort of congestion issues that we’ve thought about in the past, and might be a little bit out of Queenstown, but put that to one side so people are enjoying what’s going on.
There’s been a few weather blips and ferry blips and different things, but no, we’re getting a really positive response from our customers, the international visitors, love New Zealand, and it’s been a good time to travel.”
The continued expansion of campervan rentals and dispersed travel patterns underscores growing demand for flexible road-based travel, a trend that highlights the importance of this development for the RV industry as operators adapt fleets and experiences to meet evolving traveler preferences.