The New Zealand government has committed to spending $210 million (NZ$304 million) on the film industry over the next four years.
The figures, including $166 million (NZ$240 million) for the International Screen Production Grant and $44 million (NZ$64 million) for the local industry, were announced on Friday local time by Economic Development Minister Simon Bridges and Arts, Culture and Heritage Minister Maggie Barry.
New Zealand offers one of the most generous financial regimes in the world for incoming international movie productions. Recent films that shot in New Zealand included Warner Bros.’ “Meg.” The upcoming “Avatar” sequels are also expected to return.
“Without the grant these 50 international productions (since 2014) would not have located in New Zealand and the NZ$3.3 billion would not have been spent here,” said Bridges. “Technologies like artificial intelligence and robotics originally developed for film are being used and adapted in other areas such as health bringing even more economic upsides. It also supports tourism with New Zealand recognized as a leading film tourism destination. Some 18% of visitors say they chose to come here following the ‘Hobbit’ trilogy.”