NZ up three places in world competitiveness

by Simon Lord

last updated 28/05/2015

28 May 2015 - New Zealand has risen to 17th place on an annual world competitiveness ranking

On the list released by IMD, a top-ranked global business school in Switzerland and Singapore, New Zealand has risen from 20^th to 17^th place, overtaking Australia, the United Kingdom and Finland. The USA remains in top place, with Chinese Hong Kong moving into second place. The Chinese Mainland rose one place to 22nd.

Although the USA was ranked in first place for Economic Performance and Infrastructure, and second for Business Efficiency, it fell to 23rd place for Government Efficiency (where Chinese Hong Kong was ranked in 1st place). New Zealand ranked 6th in this category.

‘A general analysis of the 2015 ranking shows that top countries are going back to the basics,’ said Professor Arturo Bris, Director of the IMD World Competitiveness Center. ‘Productivity and efficiency are in the driver’s seat of the competitiveness wagon. Companies in those countries are increasing their efforts to minimise their environmental impact and provide a strong organisational structure for workforces to thrive.’

The report contributed by the New Zealand Institute of Management identifies the principal challenges for New Zealand in 2015 as:

Solving the country's shortage of internationally competent and experienced executives
Improving international market access and trade connections
Boosting knowledge-based capital investment
Raising productivity and workplace skills levels
Closing the gap between productivity and average per capita income levels.

The survey ranks 61 countries around the world with a report on each detailing Economic Performance, Government Efficiency, Business Efficiency and Infrastructure. It also notes Key Attractiveness Indicators for each economy as well as Strengths and Weaknesses. Download the summary for New Zealand here (pdf format).