NZ is the Second Best Country for Business

October 6, 2011 New Zealand Finance

New Zealand businessNew Zealand is the second best place in the world in which to do business, and is also regarded as the top country for several economic indicators.

The international news publication Forbes has released its annual list of the best countries for doing business. New Zealand has been ranked second on the list, placed only behind Canada on the list of the best countries in which to do business.

Forbes described New Zealand as a country which has grown significantly in the last two decades, saying that the nation has moved from being an agrarian economy to an industrialized free market economy capable of competing globally.

New Zealand was ranked as the top country for investor protection and personal freedoms. The country was ranked as the nation with the lowest levels of corruption in the world. New Zealand was also regarded as having the least amount of political red tape for opening or operating a business.

New Zealand’s lowest ranking were in trade freedom and innovation, being listed as 35th and 28th respectively. Forbes also ranked New Zealand’s tax burdens as the 21st lowest in the world, though it was noted that the list position had dropped, due to recent GST rate increases.

New Zealand was regarded to have some vulnerability due to its reliance on overseas exports, and a relatively small economy. But the authors of the list noted that the government currently intends to develop infrastructures and reign in spending, in an effort to stabilize local economic conditions.

Photo by taniwha