New Zealand has a high level of physical capital, but low population density means the cost of infrastructure is high and New Zealand does not produce many types of physical capital outside of building and construction.
New Zealand’s financial system has been resilient in the current crisis, and the country scores very highly for integrity and low corruption. Nevertheless businesses and observers often identify difficult access to financial capital as a constraint on enterprise expansion.
New Zealand has a comprehensive education system, but with a large tail of underachievement and long-standing concerns about weak connections between employers and educators (secondary and tertiary). Appropriately directed investment in human capital can promote inclusiveness of the whole population and address shortages of skills demanded by employers. Life-long learning through adult education is important to encourage participation as skill needs change over time.
New Zealand has abundant natural resources and global reputation for clean and green practices, which are attractive to overseas consumers and tourists. The image is under threat in some segments of the market, including for example recent debates about ‘food miles’.
New Zealand has strong international and domestic networks that aid economic well-being. There is evidence that greater networking of businesses with each other and their communities enhances business development.
New Zealand has inherited important values from previous generations that are foundational for economic well-being. The fact that English is the country’s dominant language is an international advantage. It has also been stated that New Zealand culture does not acknowledge business success or support community leadership as well as in some countries.
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