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Surging immigration boosts New Zealand economy growth

Surging immigration boosts New Zealand economy growth

New Zealand’s economy grew at the fastest annual pace in two years in the third quarter. Surging immigration, record-low borrowing costs and a housing boom are stoking New Zealand’s economy, which is among the fastest growing in the developed world.

The economy expanded 3.6% in the second quarter from a year earlier, matching estimates and the most since the final quarter of 2014. Gross domestic product grew 0.9% from the first three months of the year.

New Zealand’s annual growth rate compares with 3.3 percent in Australia, 2.2 percent in the U.K and 1.2 percent in the U.S.

New Zealand: #1 place to live

In addition to its strong economy and stable political environment, New Zealand offers excellent employment opportunities and a high standard of living and education, amazing educational opportunities along with free basic healthcare for citizens and permanent residents. In this immigrant-friendly multicultural country, some 25% of all 4.6 million residents were born overseas.

A global index of the world’s best place to live put New Zealand at the top. Researchers at the Legatum Institute think tank ranked New Zealand the highest, despite 26 other countries being wealthier, because of its ‘unrivalled ability to turn its wealth into prosperity’ – a broader measure than just money.

Rankings on the Legatum Prosperity Index are based on income as well as ‘wellbeing’ measures such as freedom, health, social ties, business opportunities, governance, nature, education and security.

People who live in New Zealand (sometimes referred to as “Kiwis”) are famous for showing newcomers warm hospitality. Not only is New Zealand one of the world’s safest countries to live in, it also offers its residents a relaxed, laidback lifestyle that many find attractive. New Zealand has an excellent work-life balance in which people have time to enjoy life with family and friends.

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