Magazine article New Zealand Management

NZ Climbs Competitive Rankings

Magazine article New Zealand Management

NZ Climbs Competitive Rankings

Article excerpt

New Zealand has lifted its global competitiveness game gaining two places to rank 19th on the just released IMD World Competitiveness Yearbook.

The improvement in New Zealand's ranking also closes the trans-Tasman gap with Australia which has slipped this year from sixth to 12th place.

The US is again number one but, according to Stephane Garelli, director of the IMD's World Competitiveness Centre, the results this year signal a "big shake up" in global economic and business power. Emerging nations are quickly catching up in competitiveness, he says.

According to Garelli, new companies and new brands are appearing all over the world and they now contest the longstanding competitive supremacy of industrialised nations. He warns that "this could lead to an increase in protectionist measures in Europe and the US".

The IMD World Competitiveness Yearbook ranks countries on their ability to create and sustain enterprise competitiveness. The local data, compiled in partnership with NZIM highlights five significant challenges facing this country.

The first--the need to adopt education policies that focus on quality learning outcomes--is "critical if we are to lift our economic performance in an increasingly competitive world", says NZIM national chief executive David Chapman.

The other four are the need to:

* boost the nationwide adoption of broadband communication technologies;

* tackle key infrastructure issues including water and energy supply and affordability,

* address critical primary sector climate change issues and policies; and

* encourage more companies to export.

Under the four major category areas, New Zealand improved on business efficiency, held steady on infrastructure, and climbed from 12th to sixth place on government efficiency but slipped badly from 28th to 40th place on economic performance. …

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