The Economic Investment Unit has ranked Aotearoa New Zealand in the top ten places in the world to do business. The ranking, which places us eighth out of more than 80 countries, validates New Zealand as ideal for foreign investment.
The 2024 Economic Investment Unit (EIU) index, published March 2024, assesses the best places in the world to do business over the next five years. In the list of 82 countries Aotearoa New Zealand ranks eighth, closely following Singapore, Denmark, the United States, Germany, Switzerland, Canada and Sweden.
EIU is the research and analysis division of The Economist Group, a leading source of impartial information on international business and world affairs. Its Business Environment Rankings index (which supersedes the World Bank’s now-defunct Doing Business publication) measures the attractiveness of the business environment by examining 91 indicators spread across 11 different categories.
Categories include the political environment, the macroeconomic environment, market opportunities, policy towards free enterprise and competition, policy towards foreign investment, foreign trade and exchange controls, taxes, financing, the labour market, infrastructure and technological readiness.
Business is better in New Zealand
New Zealand has long been recognised as a strong business environment, ranking first in the World Bank’s 2019 Doing Business index. Contributing factors include our steady long-term GDP growth, strong regulatory environment, easy start-up processes, a highly educated and skilled workforce, low crime rate and lack of corruption. The government offers robust support to business through tax incentives, grants, and business development and advisory programmes.
New Zealand’s economy is highly developed, yet small enough for agile businesses to make a big impact. Our universities have solid ties with businesses and innovators across a wide range of sectors, from financial tech and agritech to space exploration and sustainable energy; they in turn enjoy well-developed global networks which enable them to grow at scale.
Belying our geographical isolation, we have strong ties to global markets, with free trade agreements with major trading partners, including Australia, United Kingdom, China, United States, and (from 1 May 2024) Europe.
Auckland: New Zealand’s economic powerhouse
Auckland is the heart of New Zealand’s business environment. Economic growth in our largest city has averaged 4.7 per cent over the 10 years to 2023 (compared with a national average of 3.1 per cent). In 2023 the city centre, dominated by high-value services (financial, insurance, professional, scientific, technical, information media, telecommunications), accounted for 8 per cent of national GDP.
Offering a high quality of living, Auckland is the preferred choice for immigrants to New Zealand, with a vibrant cultural mix and full range of urban amenities, from first-class dining to sports, arts and heritage experiences. The city is set among natural harbours, beaches, forests and parks, offering ‘beauty on your doorstep’ and an excellent work–life balance for businesses that set up or relocate here.
Find out more
For more information on Tāmaki Makaurau Auckland as a world-class business environment, visit our website.