New Zealand’s economic recovery has helped spur some of the world’s biggest companies to move operations out of New Zealand, but it also has led to a boom in tourism.
New Zealand is currently home to more than half of the global total of millionaires, according to a report released Tuesday by the Institute of International Finance.
“New Zealand is now home to a very large proportion of millionaires in the world, a fact that can be traced back to the country’s growth rate,” said Tim Coughlan, co-author of the report, which was co-authored by John Kelly, former chairman of the Australian Taxation Office and chief executive of the Commonwealth Bank.
“But that growth rate has slowed to a crawl as the economy has contracted, as has New Zealanders’ willingness to work here,” he added.
“New Zealand has a very high number of millionaires compared to other countries in the OECD, and this is largely due to the high level of tourism in New Zealand.”
Coughlan said the growth in millionaires and the growing number of expats coming to New Zealand from other countries were likely to make it a popular destination for business travellers, as well as investors, investors and foreign investors looking to invest in the country.
Coupled with rising house prices in the capital Auckland, the report said, this could lead to a significant number of foreign investors moving into the country to start their own businesses.
The report also said the number of overseas workers entering the country had risen by more than 20 per cent in the past 12 months, and that there were an estimated 3.5 million people in New York who are overseas workers.
Kelly said the report was designed to help businesses find the best ways to grow and grow in the future.
Businesses are still being told to keep their eyes open for potential competitors, he said.
There is no evidence that the global economy has been harmed by a prolonged downturn in the global financial system, he added, saying the report had highlighted the fact that the economic recovery was not complete.
New Zealand’s recovery has also helped to drive a lot of foreign investment in the region, said Kelly, who said that in the three years to June 2017, foreign direct investment grew by nearly 10 per cent.
However, Kelly said it was not enough to attract the world to New England and he believed that many New Zealand businesses would be better off looking elsewhere.
Some of the top countries for foreign direct investments are New Zealand and Germany, he noted.
According to Kelly, the country was also one of the most highly taxed in the EU, at 37 per cent, and a tax rate of just 2.6 per cent was considered very high by many, including some in the international community.
For those looking to start a business in New England, Kelly recommends looking at a jurisdiction that has a low corporate tax rate, and also has a high minimum tax.
He also said New Zealand should follow the lead of the US, where a number of big companies are looking to move their operations to the region.
If a business is looking to do something new, New Zealand could be an attractive option, he suggested.
A spokeswoman for the New Zealand Council of Trade Unions, which represents many of the countrys largest companies, said many of its members had been “optimistic” about New Zealand as a destination for investment.
But they said it had not been able to bring about significant economic growth in recent years.
She said the council was disappointed that New Zealand had not become a global financial centre, but noted that it was still one of Europe’s leading economies.
‘New Zealand must be the envy of the West’ The Australian Tax Office said it could not comment on individual companies, as the tax office was not a tax authority.
Australian Finance Minister Mathias Cormann said the government was looking at ways to encourage foreign investment, but he also said it did not want to “turn the economy into a tax haven”.
“It is important to emphasise that it is not a policy that would encourage or encourage foreign firms to move into New Zealand,” Cormann told ABC Radio’s Today program.
In a statement, the OECD said it supported New Zealand “for its remarkable recovery” and that it would be “committed to ensuring that it continues to attract new investment and grow”.
In April, New York City Mayor Bill de Blasio said New York was a “perfect candidate” for a $5 trillion dollar investment, which could eventually create a “super city” that would be a “world-class city”.
However New York has had to struggle to attract large-scale investment since the financial crisis, with some of its biggest companies including Apple and Goldman Sachs moving operations out, and even some major retailers closing their doors.
With the recovery, the city is now attracting some of Australia’s biggest financial institutions, and the country has now overtaken