Magazine article New Zealand Management

New Zealand's Rising Global Competitiveness

Magazine article New Zealand Management

New Zealand's Rising Global Competitiveness

Article excerpt

New Zealand became more globally competitive over the past year--rising one place to 18 out of 55 on the world competitiveness scoreboard, according to the IMD World Competitiveness Yearbook.

But we still trail Australia which has climbed five places to rank seventh in the world.

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The United States retained its number one place, but Stephane Garelli, director of the IMD's World Competitiveness Centre, noted that it was Japan's financial collapse in the early 1990s, not unlike that now taking place in the US, that stripped that country of its previous first place ranking, Japan is now a mid-field performer at 22nd.

The 2008 IMD World Competitiveness Yearbook ranks countries on their ability to create and sustain enterprise competitiveness. The New Zealand data, compiled in partnership with the New Zealand Institute of Management, reveals little improvement on last year's performance in most areas of the country's competitive performance.

IMD and NZIM identified five challenges facing New Zealand in 2008. The first, the country's need to increase its focus on vocational education for young people, is critical if New Zealand is going to enhance its economic performance and compete effectively in an increasingly competitive world marketplace, says NZIM National chief executive David Chapman.

The other four challenges included the need to:

* Tackle water, transport and energy infrastructure issues.

* Extend the availability and take-up of broadband technology. …

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