1 Jun 2012

NZ global competitiveness continues slide

4:10 pm on 1 June 2012

A new international report says New Zealand's global competitiveness has fallen to its lowest level on record.

The survey was carried out by IMD, a think-tank and business school based in Switzerland, in conjunction with the New Zealand Institute of Management.

IMD's latest world report shows New Zealand's competitiveness slipped three places to 24th out of 59 economies.

Hong Kong claimed top place, followed by the United States and then Switzerland.

The gap between New Zealand and Australia narrowed, with Australia falling from ninth to 15th place.

Each country was judged on its economic performance, infrastructure and government and business efficiency.

The survey recommended that New Zealand improve its level of public services, as well as build better infrastructure such as broadband.