Jacinda Ardern and Scott Morrison want to axe border restrictions between New Zealand and Australia

The Anzac spirit could extend long beyond this weekend.

New Zealand Prime Minister Jacinda Ardern and Australian Prime Minister Scott Morrison want to create a trans-Tasman bubble by axing border restrictions between New Zealand and Australia and such a move could save thousands of jobs.

As we commemorated the Anzac spirit like never before - physically separated - work was underway to bridge the gap and reinstate trans-Tasman travel.

"I think what we all agree that is a situation we would all like to be in," Ardern says.

Australian tourism is worth nearly $3 billion to New Zealand. Re-opening that market would be an electric shock to the heart to the flat-lining industry.

For Queenstown, it's a small gleam of hope in an otherwise utterly bleak forecast.

"It will mean a lot of businesses survive that wouldn't otherwise," says Queenstown Lakes District Mayor Jim Boult.

Tourism Industry Aotearoa says it would save thousands of jobs and possibly thousands of businesses.

"If we could be open in time for September/October school holidays that would be a fantastic achievement," says chief executive Chris Roberts.

And it cuts both ways - Kiwi tourists are just as lucrative to Australia.

"A lot of work is already underway between tourism interests, airlines, airports, border agencies," Roberts says.

It depends entirely on whether it's safe. Like New Zealand - touch wood - Australia appears to have COVID-19 under control. But neither country wants to risk that.

"One thing I'm not willing to do is jeopardise the position New Zealand is in by moving too soon to open our borders, even to Australia," Arden says.

The same goes for New Zealand's other Pacific Island neighbours critically dependent on the NZ tourism dollar.

"We do have to be particularly cautious. [Our] Pacific neighbours [have] not [been] inflicted by COVID in [a] large part and the last thing we would want is to risk that," Ardern says.

Likewise, the borders are New Zealand's last line of defence against the virus. Any Australians let in should expect to be quarantined under government control.

"I see that as a very likely prospect," Ardern says.

But it's arguably a small price to pay to broaden the bubble across the ditch.