The Japan market is flat at the moment, but it is a very important market for New Zealand and also for Air New Zealand.

We're still reasonably optimistic that we can restore Japan to growth but we're going to have to do a lot more work out there with the travel trade.

The one that would concern us most of those three is Japan because we know the Japan market is a bit fickle at times.

We believe New Zealand at this particular time of year offers something completely different for someone who lives on the Gold Coast.

From New Zealand to Japan, for many it is a life dream to hike the most famous trail in the world.

Investors are more confident about Japan. There is a slight wariness about emerging-market equities.