Key Facts
The New Zealand population is just under 5 million spread across two islands representing a land area slightly larger than the United Kingdom. Around 35% of the population is based in the Auckland region which accounts for around 40% of the country’s GDP.
New Zealand has stable institutions and good governance. The World Bank rates it number 1 out of 190 countries for ease of doing business and it is ranked as the least corrupt country in the Global Corruption Perception Index.
Their Business Claim to Fame
New Zealand’s exports in 2019 were US$38 billion of which US$1 billion was to the UK. It imports US$39 billion of which US$1.2 billion was from the UK.
Notable membership includes:
Exporters: Fonterra (Anchor butter, Anlene milk powder), Bobux Shoes
Foreign Investors: HSBC, OCS, Babcock International, Jaguar Land Rover
Others (specify) DLA Piper, Deloitte, Xe.com, Qatar Airways, City & Guilds
Their Most Exciting Sector Opportunities
New Zealand has a very advanced agriculture industry producing a wide array of high-quality food and drink products including wine, dairy products, lamb, beef and honey.
It is also becoming an increasingly popular place for technology companies because of it being one of the easiest places to establish a business. It is an ideal place for UK companies to test out new products due to its tech savvy, well-educated, English-speaking population. Also, over 50% of the population are based in the 3 major cities so it is easy to undertake market research on new products.
New Zealand is a popular place for film makers due to its unbeatable and varied scenery and access to a highly skilled and experienced multicultural workforce.
Their Top Business Culture Tips
The business culture in New Zealand is very similar to the UK except it is typically more relaxed.
Maori history and culture is very important to the business and wider community. This is having an increasingly stronger influence on New Zealand life and it is easy to cause offence if it is not taken seriously.
Kiwis are proud of their country and like to see others appreciate New Zealand so be willing to fully embrace what it has to offer
From Christmas through to towards the end of January nearly all New Zealanders take their summer holidays so do not plan a visit for that period
Don’t assume that New Zealand and Australia are the same and definitely do not confuse Kiwis with Australians – that is the ultimate insult for a Kiwi!
Web address:
Thanks to our colleagues in the British New Zealand Business Association for these insights!