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The "Perfect" Little Economy of New Zealand | Economics Explained 

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This is New Zealand - a picturesque nation with an economy that appears to exclusively rely on throwing tourists off cliffs in increasingly imaginative ways.
But Australia’s "little brother" is not to be underestimated. In fact, New Zealand is, arguably, the world’s best-managed economy. After considering the World Bank's Ease of Doing Business Index and various high-ranking Quality of Life and Happiness assessments, it's little wonder as to why consistently ranks New Zealand at the top (move aside, Norway!).
Perhaps even more remarkable is that this tiny island country has achieved remarkable prosperity in spite of not having notable natural resources (or acting as a tax haven for global businesses).
What are the primary drivers of New Zealand's economic prosperity?
How has the nation been able to accommodate these where other nations fail to do so?
And what are the challenges the nation might face to keep this success going?
... All this and more in today's episode of Economics Explained!
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16 янв 2021

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Комментарии : 5 тыс.   
@EconomicsExplained
@EconomicsExplained 3 года назад
Special thanks to our mates at Acorns for making this video possible! ❤️ Sign-up for Acorns! 👉 www.acorns.com/ee?s2=NZ1 (upon registration, Acorns will deposit $5 in your account to help you get started with investing!)
@fdr8343
@fdr8343 3 года назад
*Well, why don't they sell acorns?! If I can't eat them...*
@fdr8343
@fdr8343 3 года назад
What time is it the underworld? *Get it bc Australia is upside-down?*
@angusconn758
@angusconn758 3 года назад
Don’t let the squirrels know or it will disappear
@AndrewMellor-darkphoton
@AndrewMellor-darkphoton 3 года назад
hi
@---capybara---
@---capybara--- 3 года назад
Read this is “ancoms” for a hot minute lol
@rylandmalcolm3825
@rylandmalcolm3825 2 года назад
Economics Explained: A good economy, nice and stable The comment section: I would hit you with my house if I had one
@JonathanS995
@JonathanS995 2 года назад
That's hitting the nail on the head man. If I had a house I'd use that instead of a hammer 🤷🏼‍♂️
@CloudWalkBeta
@CloudWalkBeta 2 года назад
Coming from the UK, I feel you on that! Wages vs Housing prices seem to have gotten divorced a long time ago and it doesn't seem like there will be any answer in sight until some massive global crash happens.
@captainpiggz6391
@captainpiggz6391 Год назад
He seems to ignore how hard it is to get a house or just live week to week in these economy’s. He’s getting too out of touch with the average man to see the true impacts of wealth inequality.
@LauraTeAhoWhite
@LauraTeAhoWhite 3 года назад
New Zealand: Our GDP has grown Also New Zealand: We can't afford a house
@joeloneill7137
@joeloneill7137 3 года назад
Oof buying a house in Auckland is nearly impossible if your not rich lol
@gouldney1
@gouldney1 3 года назад
"We" have always existed. Banks are more addicted to the property market than you, or me. They'll find a way to stitch you up. They didn't all survive for 200+ years turning away borrowers!
@Harroi
@Harroi 3 года назад
"Yay, our GDP has grown! What's that? Housing prices are wild causing poverty and influencing our massive suicide rate? We don't care, we have ours, stuff yours!"-The NZ gov
@bonda_racing3579
@bonda_racing3579 3 года назад
@Karl Marx or just place massive tariffs of foreign real estate agents especially Chinese ones and give their citizens first priority in the housing market.
@bonda_racing3579
@bonda_racing3579 3 года назад
@@user-uv5kv6ui5n could they issue contacts for developers so the supply can meet the current demand for housing. Am not sure if NZ have zoning laws but if they do they should be removed. Influence people towards the development market.
@Fleeglebutt
@Fleeglebutt 3 года назад
In New Zealand, we compete with the richest people in the world for houses, and the poorest people in the world for jobs.
@jeiko111
@jeiko111 2 года назад
Amen.
@pariscuties1786
@pariscuties1786 2 года назад
Exactly
@muzzaduzz613
@muzzaduzz613 2 года назад
Well said that man.
@Battleneter
@Battleneter 2 года назад
NZ has the 4th highest minimum wage on the planet, Google it yourself. NZ is a "high" wage economy, I have no idea where this low wage BS comes from, Australia perhaps?
@jnow7112
@jnow7112 2 года назад
@@Battleneter Minimum wage is not something skilled professionals are interested in. An engineer from second or third world country that qualifies for work permit will take any offer, because they don't know local situation very well. Also they are more likely to move out to Australia after obtaining citizenship, since they don't have emotional connection to the nation.
@andrew.l.5493
@andrew.l.5493 2 года назад
The best economy isn't just measured by what you've learned in this video. For the majority of Kiwis, the country is horrifically expensive and that's primarily why so many leave. The lifestyle/cost of living from earnings is far better in many other countries.
@alankenny4308
@alankenny4308 Год назад
New Zealand are like my country, Ireland. Small country and a large portion of people leave every year. Last 2 years has slowed that down but this year and into next year. Gonna be a mass exodus. Ireland is so expensive, people can't buy houses. Lifestyle is ok but most move to Australia or America
@scootergrant8683
@scootergrant8683 8 месяцев назад
Horrific is definitely a relative term depending where you live but, it's definitely far from comfortable
@jackgibbons6013
@jackgibbons6013 3 года назад
Im a kiwi, I remember my high school economics teacher saying the best financial decision we could make in our lives is to move to Australia.
@daleinstone1453
@daleinstone1453 3 года назад
I did exactly that haha
@EconomicsExplained
@EconomicsExplained 3 года назад
It is a very common trend, but TBH I am glad to have you guys, you are all extremely chill. Basically you guys are what everybody else in the world thinks a chilled out Australian is.
@gordonjohnson2497
@gordonjohnson2497 3 года назад
@@EconomicsExplained Maybe we are chill and theyre just dead
@lm_b5080
@lm_b5080 3 года назад
@@EconomicsExplained better rugby in NZ anyways
@northwestkiwi7742
@northwestkiwi7742 3 года назад
@@EconomicsExplained "Kiwis are so laid-back, I once saw a guy yawn in the middle of his own car accident." - Chopper. (The comedian Chopper, not the other one.)
@kelvin9496
@kelvin9496 3 года назад
Downsides of NZ: it's a hella expensive to live; from food, to clothes, to homes. And base wage is relatively low. You have to be aware that we currently have a housing crisis where first homes are starting to become an impossibility for younger generations and this has driven many families out of flats and having to resort to living in their cars.
@4evaavfc
@4evaavfc 3 года назад
Sadly true.
@Teslaharmonic
@Teslaharmonic 3 года назад
so true..... the huge amount of kiwi's living in Oz will all tell you the same story.
@dodgechallenger9929
@dodgechallenger9929 3 года назад
Thats because the primeminster is a sociallist
@hrvsmart
@hrvsmart 3 года назад
and there's basically nothing there for young people to do except work, then drink and do meth on the weekends
@lexiecrewther7038
@lexiecrewther7038 3 года назад
How much does it cost to register a car in NZ vs other countries? Oops
@samanthacuckow51
@samanthacuckow51 3 года назад
Nz is a nice place to live. The low wage economy and high cost of living is killing the middle class though. Unless you are rich or poor enough to qualify for government assistance you get reamed covering your week to week living expenses. Labour are doing nothing about it. Jacinda is good at talking but next to useless at doing.
@mattyallen3396
@mattyallen3396 3 года назад
Please refer to our beloved PM as Seabiscuit
@judis6224
@judis6224 3 года назад
Agree Sam.
@AK-pu2gm
@AK-pu2gm 3 года назад
They are good at shutting everything down that's about it
@deprimat666
@deprimat666 3 года назад
Nah social welfare kinda sucks tbh you're left with like $50 after rent usually and 1 meal is usually $15 to $20
@mattyallen3396
@mattyallen3396 3 года назад
@@deprimat666 You not cooking?
@Ffffjjjje
@Ffffjjjje 3 года назад
I've watched another documentary called "Who owns NZ?" and it points to bad arrangement from the country's economists/ lawmakers. It concluded that by granting citizenship in exchange to investment in NZ economy, most wealthy immigrants chose to invest in low risk investment like property which in turn created the ripple effect on house price surge. While most high risk investments such as innovative startups and small businesses being ignored by these overseas investors, instead of creating more jobs with investing in those, it kind of did the opposite with house prices and rent being too pricey for the normal employees to afford. In my opinion, the NZ lawmakers or economists failed its people by inventing or must I say 'copy and paste' law from other immigrant hunting countries. I do not know if NZ authority is aware of this but it needs to be dealt with immediately. The 4 basic needs of living things (food, water, shelter, and clothes) are what NZ need to build a strong and steady foundation for its people to thrive. With shelter being a major issue in the center of NZ economy like Auckland, kiwis will continue to move to AUS and so does the immigrants in the long run. But the house price will never go down so NZ economists should work very hard to pick it up because families with children are literally living on the street in their car, imagine what that does to children psychology and development.
@AndrewB21
@AndrewB21 2 года назад
It's aware. It just doesn't care.
@scootergrant8683
@scootergrant8683 8 месяцев назад
The house price surge is not a one source problem necessarily. It's more a case of small decisions over an extended time period that seem innocent on their own but together caused the mess we're in.
@austen855
@austen855 3 года назад
I work in construction in Australia and I work with A LOT of kiwis. They all say they’re in Australia because they can’t earn enough money to live working in New Zealand. I’ve met quite a few who still have family there and send money back. I’ve also met a lot of British and Irish people who have worked there and moved on to Australia because the wages are so poor and and the prices are so high. I haven’t looked at any graphs or anything but it really doesn’t seem like it’s that great for the average person.
@sdprz7893
@sdprz7893 3 года назад
It really isn’t, me and my partner moved to the UK for this reason.
@CloningIsTooGoodForSheep
@CloningIsTooGoodForSheep 3 года назад
Urban NZ housing costs eat into wages.
@MaonNZ
@MaonNZ 3 года назад
Wages are low and you have little protection as an employee.
@afr0flava
@afr0flava 3 года назад
Yup. I moved to Sydney from Auckland in 2019. Despite Syd being one of the most expensive cities in the world, my cost of living is still lower than in Auckland and my income is higher for the same job.
@austen855
@austen855 3 года назад
@@sdprz7893 Christ, how’s that working out for you? I’m English myself
@Brad729
@Brad729 3 года назад
Housing is a massive crisis in NZ. Most young NZers never imagine owning their own homes.
@Kabodanki
@Kabodanki 3 года назад
It's true in nearly every big cities
@chrisstott3508
@chrisstott3508 3 года назад
You much choose, Auckland, or House. Having to choose between your desires is not a crisis, it's just life.
@thequietkiwi
@thequietkiwi 3 года назад
@Pro Tengu Yes. Very sad how the state indoctrination centres aka public schools have taught NZ kids how to think.
@Blender3DProjects
@Blender3DProjects 3 года назад
I'm 26 and have a house in Auckland :)
@MrHarumakiSensei
@MrHarumakiSensei 3 года назад
@Pro Tengu He didn't conquer New Zealand. Must have been left off the map. :)
@Kevin_Pew
@Kevin_Pew 3 года назад
You just offended every single Kiwi's by calling them "Australia'sLittleBrother"
@stevebell5231
@stevebell5231 2 года назад
Hahahaa na our rivalry with Australia ends with sports and jokes
@donjorvead2431
@donjorvead2431 2 года назад
The little brother is always the most expensive one...
@donjorvead2431
@donjorvead2431 2 года назад
@GrimReaperNZ that my friend is a fact
@L3monsta
@L3monsta 2 года назад
kiwi here, I think it's an accurate description. NZ and Aus are like a brotherly relationship and NZ would obviously be the smaller one.
@Vikingr4Jesus5919
@Vikingr4Jesus5919 2 года назад
Nah man, so long as they realize All Blacks OWN Rugby, we're fine :P
@flimsyjimnz
@flimsyjimnz 3 года назад
14:50 "New Zealanders who migrate to Australia raise the IQ of both countries" -Rob Muldoon, PM '75-'84.
@paulveenings6861
@paulveenings6861 3 года назад
I always thought it was David Lange that said that . True but .
@laurencefraser
@laurencefraser 3 года назад
... now if only He'd done that instead of going into politics...
@TomorrowWeLive
@TomorrowWeLive 3 года назад
@@laurencefraser his policies were way better than the neoliberalisation/globalisation Labour brought in after him
@chchwoman9960
@chchwoman9960 2 года назад
@@paulveenings6861 It was definitely Muldoon.
@gerrymanda983
@gerrymanda983 2 года назад
Obviously a funny statement, but can you blame people moving to Aus to make a living wage? Seems like an intelligent choice.
@ChocolateMilkCultLeader
@ChocolateMilkCultLeader 3 года назад
EE letting everyone know how his is bigger while praising NZ. Classic brother behavior
@EconomicsExplained
@EconomicsExplained 3 года назад
gotta make sure they know their place
@gordonjohnson2497
@gordonjohnson2497 3 года назад
New Zealand is our family. :)
@InnuendoXP
@InnuendoXP 3 года назад
@@gordonjohnson2497 New Zealand is the little brother who went off to become a moderately successful gig musician & music producer but is back to couch-surfing at least once every 10 years. Australia is the big brother who got into real-estate and is very successful at the cost of being a bit of a greasy asshole about it.
@gordonjohnson2497
@gordonjohnson2497 3 года назад
@@InnuendoXP Haha
@gordonjohnson2497
@gordonjohnson2497 3 года назад
@@InnuendoXP we still enjoy catching up and getting trashed together though
@sugarhill9283
@sugarhill9283 3 года назад
the cost of living here is atrocious, i used to live in the famously expensive japan but almost everything back here in NZ is more expensive, especially day to day things like food
@londonbeatz
@londonbeatz 3 года назад
@@lindelof72 shut up and stop spamming troll
@shadowxskills
@shadowxskills 3 года назад
@@londonbeatz grow some perspective. you can't understand people's hardships while living off your daddy's wallet!
@TomMathesonColes
@TomMathesonColes 3 года назад
This hits home, I miss cheap rent and cheap beer in japan, not the 5 dollar apples though.
@RecklessFables
@RecklessFables 3 года назад
So what you're saying is, it is easy to stay thin?
@AdamSmith-gs2dv
@AdamSmith-gs2dv 3 года назад
You live on an island in the middle of nowhere, ships have to take a massive detour to get to New Zealand which adds on cost
@randynovick7972
@randynovick7972 2 года назад
The strangest thing I've learned about NZ is that for real estate there's no buyer's advocate. It's totally seller-focused. There's literally no market force to put downward pressure on price. Oh, and please keep Peter Thiel. We don't want him back.
@hegantetamboktyanak6368
@hegantetamboktyanak6368 3 года назад
My only regret was that I didn't leave as soon as I could leave school and move to Australia
@paulmitchell6485
@paulmitchell6485 3 года назад
Yep, our economy is so good that 25% of our population moves overseas for a better life
@leisiyox
@leisiyox 3 года назад
Is that true? Why is that?
@davidjohnston9134
@davidjohnston9134 3 года назад
We have very low paying jobs and very high living costs.
@Steve-zs1ki
@Steve-zs1ki 3 года назад
@@davidjohnston9134 my simpletons explanation. Importing skilled labour increases supply keeping wages low and increasing demand for basics such as housing, Leading to ncreases in the cost of living whilst maintaining low wages. Further importing cheaper labour acts as a disincentive to local kids. Why would kids "invest" in expensive education/training to compete with cheaper imported labour?
@curtino114
@curtino114 3 года назад
@@leisiyox That is why they all end up in Australia
@mikespearwood3914
@mikespearwood3914 3 года назад
@@Steve-zs1ki This mass migration agenda is pushed on every western nation to push upwards pressure on housing/real estate, and downwards pressure on wages.
@definitelyclickbait7144
@definitelyclickbait7144 3 года назад
The three dislikes are Norwegians , In the words of EE -"Move aside Norway"
@oditeomnes
@oditeomnes 3 года назад
If you ever knew how many potential filming deals Norway lost to New Zealand and other landscape impressive countries because our government would tax the filmmakers out of their budget...
@Kameeho
@Kameeho 3 года назад
Erhm, as a Norwegian, I can not dislike New Zealand. Why? Its the Upsidedown Norway. Fjords, check Beautiful nature, Check Strong worker protection, check A lot of sheep, check Delicious milk, check. Norwegians could easily settle in New Zealand and not realise their at the other side of the world. Other than no border to sweden to buy cheap alcohol.
@cookiesnibbler7595
@cookiesnibbler7595 3 года назад
@@Kameeho Jokes on them, there's no minimum age to drink here in NZ, you just need your parent's consent under 18.
@paalsandmo9728
@paalsandmo9728 3 года назад
@@Kameeho 🤣👍🇳🇴
@johnnyxrcfc
@johnnyxrcfc 3 года назад
@@cookiesnibbler7595 a law you kiwi’s no doubt inherited from the thousands of Scotts that settled
@calamitycanyon9173
@calamitycanyon9173 2 года назад
As a New Zealander, a lot of these things are miniscule to the downsides, but everyone else has mentioned and explained these things extensively, but I will add that there's also the issue that the most popular grocery stores in New Zealand, being New World and Packnsave, are owned or run by the same few people and companies, with their only real competition being Countdown, a store far less popular. Because of this, groceries are cheaper when exported internationally, because this monopoly means that the owners have little reason to lower price through competition, and I think that this is something that governments in general should fight, because it really is a threat to the free market.
@malilo22519
@malilo22519 2 года назад
It's only perfect because the citizens have to pay a arm and a leg to live in NZ or should I say rent because let's be honest who's got 20-30% deposit on a house worth 1-2M and it's not even a 4 bedroom with a little patch of grass they call a lawn.....
@honestlee3435
@honestlee3435 2 года назад
@@Benji2.0 at least you know the truth.
@1mol831
@1mol831 2 года назад
The same cost is true for houses in metropolitan areas in Australia, basically it’s two relevant cities.
@OneManBandNapier
@OneManBandNapier 3 года назад
As much as I enjoyed your video, I really feel like you glossed over the massive disparity between asset owners and workers, the rapidly increasing homelessness, and how hard it is for a regular working class person to find employment. As much as I love my country, we have very significant problems.
@MrSilverfish12
@MrSilverfish12 3 года назад
he's a liberal Kenysian economist. To him NZ is perfect from the outside looking in. It's a very surface scratch look at NZ. Much like how the world sees us.
@soraya_
@soraya_ 3 года назад
​@@MrSilverfish12 NZ hasn't been Keynesian since 1967. Current leadership may talk like those innovative politicians whose created full employment and put us in the top ten wealthiest nations but they crashed the economy in 1967 and then again in 1984 - we live under neoliberalism, privatisation and monopoly control with a bureaucratic class who crushes everything.
@MrSilverfish12
@MrSilverfish12 3 года назад
@@soraya_ I agree, I was merely pointing out how the world and EE see's us. He like's to point out the parts that do work but only brushes over many crucial downsides of this country. That's the thing about Keynsians, it works so long as you ignore reality.
@soraya_
@soraya_ 3 года назад
​@Danny Archer Why? The left and right follow the same economic policy, they pursue finance over productivity, wall street over main street and sell the means of production offshore...a neat policy from the US colleges (& UK) our leaders and policymakers learnt from scholarships 'gifted' to them to manipulate them into following US economic policy. A 'liberal dictatorship' your Hayek preferred as he commented when visiting Pinochet’s Chile - Hayek's same policies inflicted on NZ starting in the 80's....
@Luke-tt3dt
@Luke-tt3dt 2 года назад
As a foreigner living in NZ for longer than I'd originally planned to thanks to this global pandemic, I completely agree. Certainly loving my time here living in one of the safest countries in the world that has miraculously managed to dodge the worst of recent events. But I've also lost the rose-tinted view I used to have of this country. The level of inequality and homelessness is stark and shocking, almost every young person under 30 I've spoken to who doesn't have parents that are able or willing to help them out has just completely given up on the possibility of ever owning their own home. It's very rapidly degenerating into a neo-feudal society of two classes; the land owning gentry who live off the passive income on their investments, and the serfs working jobs that cover the over-inflated price of rent and groceries whilst leaving little left over to build any wealth themselves. I'm moving to Australia for the higher wages and lower rents as soon as I get the opportunity, saving as much money as I can there to eventually take back to the UK where I'll be able to afford a house somewhere that's not South East England
@Leo-vk6qm
@Leo-vk6qm 3 года назад
Huge chunk of New Zealanders live abroad (I'm one of them), some war torn countries have less diaspora. It's a beautiful country but not very liveable due to cost of living.
@user-wickedflower
@user-wickedflower 3 года назад
I moved from the uk at 23yrs with 600 quid, im now 50 & own my own freehold farm in Northland after saving everything i earned for 30yrs on my own with absolutely no help from anybody. I have no family in NZ & have never won or inherited a cent. I dont owe anybody or any bank anything. It can be done anywhere if you want it bad enough. I did it so its entirely possible with no credentials or degrees.
@RapidAssaultEuro
@RapidAssaultEuro 3 года назад
A 23 year old trying to save today would have higher inflation on goods and rent, leaving them unable to save enough for a deposit. What worked in the 90's and early 2000's is no longer valid.
@epictetus9766
@epictetus9766 3 года назад
@@user-wickedflower how are you supposed to save lots today in NZ? Rent is sky high as is the cost of living.
@HarshJain-it2bg
@HarshJain-it2bg 3 года назад
Really, I was looking forward to move to NewZealand. As I have been getting good job offers from NZ companies. I now think of moving somewhere else. Could you suggest some other good place.
@Albertouy
@Albertouy 3 года назад
@@epictetus9766 Live outside of Auckland and Wellington
@kahlschlag17
@kahlschlag17 3 года назад
Well I live in Wellington. Nice to hear this but I think New Zealand is on a fast moving downward spiral.
@sam12345506
@sam12345506 3 года назад
Why's that?
@mickey_jim2770
@mickey_jim2770 3 года назад
NZ is great but has pretty poor infrastructure, even in the cities. In my suburb TePuna, apparently new home owners have to buy their own water tank because the local council hasn't upgraded the pump station. Roads aren't built until about a decade after they are needed, we don't really build for the future. Nice place tho
@Battleneter
@Battleneter 3 года назад
NZ is only 5 million people, you can't expect NY infrastructure.
@foreignparticle1320
@foreignparticle1320 3 года назад
You're spot on. The whole history of NZ is riddled with short-term planning, meaning that infrastructure is always 2 steps behind (at best). Even with China pumping money into the country, so little seems to have changed in terms of facilities and livability.
@Battleneter
@Battleneter 3 года назад
@@foreignparticle1320 That's a very " I have never lived outside of NZ " kind of view. Go and ask the average Californian to rate their public transport system.
@foreignparticle1320
@foreignparticle1320 3 года назад
@@Battleneter Well, having in fact lived outside of NZ for a number of years, I still espouse that particular view. And despite being glad I came back (especially prior to Covid), I believe there are cultural and political habits that keep it mired in second-rate livability. And frankly, the poor PT system of California or any other first world territory doesn't excuse the historically short-sighted, under-funded provision in NZ, and especially in Auckland (I freely admit I have never lived in any other part of NZ).
@rebeccacooke2707
@rebeccacooke2707 3 года назад
@@foreignparticle1320 I have to say I agree somewhat. I'm from the UK (eesh, we have a lot of problems there, I know) but I live in NZ and find the infrastructure, or lack there of, to be a real challenge sometimes. It's impossible to live without a car (which I don't want to do for carbon footprint reasons) and the day to day expenses of the most basic produce and goods is phenomenal. For a few basic items in a supermarket it costs me the equivalent of a ritzy dinner and drinks out back in the UK. Housing is also very, very poor and yet very, very expensive. And I say that having come from a UK terrace house that is far from perfect.
@hackerbrinelam5381
@hackerbrinelam5381 3 года назад
EE: getting fired without significant payout Shows a guy falling of the bridge
@EconomicsExplained
@EconomicsExplained 3 года назад
it's a metaphore.
@hackerbrinelam5381
@hackerbrinelam5381 3 года назад
@@EconomicsExplained LoL
@JoeVirella
@JoeVirella 3 года назад
😆 😆 😆 thought the same!
@taylorburne1168
@taylorburne1168 3 года назад
New Zealand has almost no innovation in business and is relying on housing prices rising indefinitely to sustain our GDP. Our green image is a façade, as we rely heavily on replanting pine trees and buying carbon credits to offset our emissions. We have two major cities were the majority of jobs are available, and with it taking 60+ years for an average household to pay their mortgage our 50+ aged peoples make up a large sector of the workforce and stagnate growth opportunities. To even be considered for an entry level position you need a masters degree. New Zealand is a horrible place for social mobility as owning a house has become unachievable for the average person, rent is unbelievably high and living conditions are poor. The commodification of housing in New Zealand has had incredibly damaging consequences on it's people. it's obviously not the worst place in the world, but the reputation we have been receiving worldwide is not deserved.
@leeloo6937
@leeloo6937 3 года назад
Whilst I agree with much of this; you very rarely need a master's degree for an entry level position. Dependent on the sector ofcourse, but that can't be a blanket statement.
@neversayneveragain3748
@neversayneveragain3748 3 года назад
Well said!! Can't agree more. NZ is absolutely overrated, isolated and depressing country indeed
@reynoldchand66
@reynoldchand66 3 года назад
"No innovation in business" MATE you're joking 😂 go back to school
@cheetaih
@cheetaih 3 года назад
@@neversayneveragain3748 Been living in New Zealand for nearly thirty years. Those who are progressive and hard-working already gone overseas.
@wtfhellas
@wtfhellas 3 года назад
Try Canada,,it's a colder NZ
@lesliecas2695
@lesliecas2695 2 года назад
I live in Wisconsin, a Midwestern state in the USA, that is heavily agricultural - lots of milk, corn and beans and a huge producer of ginger. Wisconsin population: 5,900,000 New Zealand: 5,000,000 Wisconsin GDP per Capita 2021: $61,000 US New Zealand GDP per capita 2021: $47,000 US Wisconsin average home price: $240,000 US New Zealand average home price: $1,200,000 NZ
@jennycruz7313
@jennycruz7313 2 года назад
You can contact her with... 👇👇👇
@jennycruz7313
@jennycruz7313 2 года назад
+1
@jennycruz7313
@jennycruz7313 2 года назад
760
@jennycruz7313
@jennycruz7313 2 года назад
589
@jennycruz7313
@jennycruz7313 2 года назад
5430
@alittlebindi25
@alittlebindi25 3 года назад
Just found this channel. As an Indian with native level English (just the wrong accent!) I found NZ's requirements for international aspirants seeking jobs very difficult to meet; too much paperwork, too much red tape. Even a regular tourist visa for NZ is a massive pain to obtain... The questions asked in my visa interview all made me think they really just don't like anyone visiting them! Now I understand why. I ended up migrating to and settling down in Australia with my partner. Thanks for this video!
@judis6224
@judis6224 3 года назад
Too many Indians in n NZ,one is getting moved on very shortly small Sasha,nor qualified any way,none of you are,but that's how things are in NZ.
@hjohnson8596
@hjohnson8596 3 года назад
As a kiwi, this was very accurate, you hit the nail on the head with being priced out of our own homes. I had to move out of Auckland to buy and my offers are still getting beat by wealthy investors
@hellalpha
@hellalpha 3 года назад
@Monarchy is the best! My parents were lucky to buy their property near Porirua in the early 2000s when things were a bit more affordable. There's no way we could do that now. Interestingly, in Brisbane, you can pick up a place 20 minutes from the CBD for just over 400K.
@UditShah
@UditShah 3 года назад
Moved to Wairarapa-Wellington 2 years ago. Started paying my debt and saving for a house. Now they are up by 35% compared to what it was 2 years ago.
@UditShah
@UditShah 3 года назад
@Henrich Muller this was mostly after Covid19. There was no immigration in last 1 year. It is a pure failure of labour govt. Aunty gotta do something about this.
@judis6224
@judis6224 3 года назад
Then you move to the south island where your not wanted.
@AUniqueHandleName444
@AUniqueHandleName444 2 года назад
@@judis6224 Even the South Island is crazy expensive. $600k for a crappy rural house in Nelson where the median household income is like $88k?
@marti-nz
@marti-nz 3 года назад
NZ is good and all, but the housing market is slowing strangling the younger generations.
@davehall44
@davehall44 3 года назад
Agreed, a single employed person won't break into the market without help. Dunedin which EE mentioned was very affordable 20 years ago to the point where some people have become multiple house owners. Low wages weren't an issue at one time. As if investment has been misdirected.
@falsum2701
@falsum2701 3 года назад
This isn't unique to New Zealand. It's happening basically everywhere.
@LukeSwasbrook
@LukeSwasbrook 3 года назад
Slowly?
@fallenangel_899
@fallenangel_899 3 года назад
thats a world wide problem actually.... so nothing new here
@TM-rk5dj
@TM-rk5dj 3 года назад
I’m considering moving to AU for that very reason lol
@rcpihama7372
@rcpihama7372 2 года назад
Foreign investors are buying all our houses and farms! Renting a 3bedroom house costs $420 a week... and that's a cheap area
@AUniqueHandleName444
@AUniqueHandleName444 2 года назад
That honestly doesn't sound very expensive to me, as an American, if we're talking about an actual house.
@Kuraskvids
@Kuraskvids 2 года назад
@@AUniqueHandleName444 Something like that in Auckland would be at least 650, more if you're going near the city centre. We've had a couple of rent-increase pauses so who knows though.
@ozymandias8523
@ozymandias8523 2 года назад
@@AUniqueHandleName444 how someone working and studying(freshman) can afford that only in rent?
@applezhang360
@applezhang360 2 года назад
@@AUniqueHandleName444 Plus I guess the conversion rates since $420 NZD = $296.5 USD
@nicci337
@nicci337 2 года назад
420 I wish!
@funtimesatbeaverfalls
@funtimesatbeaverfalls 3 года назад
Don't mention the 60,000 plus jobs lost in the manufacturing sector. I remember watching T.V. when they told John key and he looked like he was going to yawn.
@acbikeatgmaildotcom
@acbikeatgmaildotcom 3 года назад
Don't worry, we'll all just work for the govt and service sector, swap haircuts for parking fines, and borrow money to live and buy all of our goods from China.
@jeringatai3156
@jeringatai3156 2 года назад
I rememer everytime there was seasonal work, John Key would brag about low unemployment 😑 likr bro, none of those jobs are permanent and all those people will be unemployed again in 3 months
@stefan_4508
@stefan_4508 2 года назад
At least John Key didn’t pretend to give af, unlike Jacinda
@mattyallen3396
@mattyallen3396 2 года назад
That died in the 80's with Rogernomics
@BayLeafff
@BayLeafff 3 года назад
Stoked. Been waiting for you to do a video on us for a while mate! Good watch, cheers for your hard work as usual!
@EconomicsExplained
@EconomicsExplained 3 года назад
Much appreciated! and oh my you have more views on one video than I have on my entire channel hahaha
@BayLeafff
@BayLeafff 3 года назад
@@EconomicsExplained Oh mate - my teenage self was quite the prolific thie- *hahem* purveyor and reuploader of... non original content shall we say haha! Here's to you turning that on its head soon man!
@Satou-Akira71
@Satou-Akira71 3 года назад
Just had a Phone call with my pall Kim Jong-un, convinced him that New Zealand would be the best target to test his Nukes enjoy the money you get for bending over & letting societal Parasites raid your bat cave
@Think_Inc
@Think_Inc 3 года назад
@@Satou-Akira71 This is SOOO unrelated to this thread.
@Satou-Akira71
@Satou-Akira71 3 года назад
@@Think_Inc Shatcoinomics explained is the best place to lecture young Shillings like you, Special thanks to our mates at Azzcorns for making this comment possible!
@ssik9460
@ssik9460 3 года назад
I’m getting economic whiplash from going from Argentina’s dumpster fire to New Zealand
@chikabestwaifu1539
@chikabestwaifu1539 3 года назад
NPAT: $69,420 nice one dud
@alejandrochalcoff2199
@alejandrochalcoff2199 3 года назад
As an Argentinian that’s been living in NZ for the last 14 years I can still feel that whiplash... It’s been an emotional roller coaster seeing both nations back to back on EE
@user-zj9hr8xf5m
@user-zj9hr8xf5m 3 года назад
Agreed 👍
@davidsteiner2955
@davidsteiner2955 3 года назад
@Jason Chaves Crypto trading just like every other speculative investment is basically trading different crypto assets against each other to determine rise and fall and making returns .
@jenniferadams3052
@jenniferadams3052 3 года назад
recently been looking up crypto news but got nothing credible yet. Really wish to earn off of it
@memphiscook8162
@memphiscook8162 3 года назад
I was forced to move to Australia from New Zealand because I couldn't afford to even rent a inhabitable house with my wages
@cletusj.johnson1850
@cletusj.johnson1850 3 года назад
You should be grateful to come here instead of wasting your life in that inferior shithole
@suehowie152
@suehowie152 3 года назад
@@cletusj.johnson1850 Wow..
@cletusj.johnson1850
@cletusj.johnson1850 3 года назад
@@suehowie152 and?
@TheRealUSArmy
@TheRealUSArmy 3 года назад
@@cletusj.johnson1850 savage 😂
@cletusj.johnson1850
@cletusj.johnson1850 3 года назад
@@TheRealUSArmy ok
@HasFace
@HasFace 3 года назад
I'm a policy analyst in New Zealand and I found this video pretty excruciating to watch. We're business friendly sure, but we fail in pretty much every area relative to our OECD peers. We have the highest level of homelessness in the OECD, and the highest rate of rheumatic fever, a third of children live in poverty, literacy and numeracy rates are low, while school dropout is also low, housing and living is the least affordable relative to income in the OECD, our emissions are set to double compared to 1990 levels at a time when most OECD countries will have reduced them, wealth and investment is highly concentrated - it's only easy to start a business if you inherit wealth, healthcare outcomes are mixed especially for Māori, imprisonment rates are amongst the highest in the developed world. Our economic performance is mediocre, and it's disingenuous to say that the other problems can be ignored when quality of living for most people is average at best and downright atrocious for a huge proportion of the population.
@Battleneter
@Battleneter 3 года назад
Idiotic comments, homeless in NZ = state house, homeless in the USA = living on the street. The devil is in the detail not the stats.
@HasFace
@HasFace 3 года назад
@@Battleneter that's not strictly speaking true, my own city has over 200 rough sleepers, equivalent to 1/1000, and many US states have benefit levels higher than NZ. And that doesn't change that we are worse than the other oecd countries, not does it change the other stats, comparisons aren't made along one dimension
@Battleneter
@Battleneter 3 года назад
what city is that?, lets do the math using actual data. 200 people is a tiny number you must be what Invercargill?
@HasFace
@HasFace 3 года назад
@@Battleneter the capital, Wellington, population of 220,000 you effete
@Battleneter
@Battleneter 3 года назад
@@HasFace well the Wellington region is about 500K, upper Hutt Lower Hutt etc. So you are saying 200 people of about half a million residents live on the street, real huge problem ROLFL, ya numptie!
@tiancheng5069
@tiancheng5069 3 года назад
It would be ideal to include child poverty, homeless rate and police efficiency.
@chenoah7963
@chenoah7963 3 года назад
well said
@ronervine
@ronervine 3 года назад
And high rate of suicide , depression alcoholism...
@jaimie3818
@jaimie3818 3 года назад
Drug abuse, domestic violence...
@jay_wolf-476
@jay_wolf-476 3 года назад
Yeap gotta add in those parts, Tautoko everything thats been said 👌
@Master-ns7vp
@Master-ns7vp 3 года назад
The mob problems
@tommierooney6145
@tommierooney6145 3 года назад
You forgot to mention insane housing bubble, absurd inflation, lack of financial education, lack of skilled workers, and everyone left to england and australia for higher income. Theres a huge gap between classes and farmers are a small % of population.
@justintyme1171
@justintyme1171 3 года назад
We have plenty of skilled workers, but govt would rather give the jobs to immigrants who will more or less do the work for peanuts
@valcron-1000
@valcron-1000 3 года назад
Absurd inflation? You guys need to start looking outside. How can you call a 1-4% absurd? Wanna see absurd inflation? Come to Argentina and see what's like living with +30%
@tommierooney6145
@tommierooney6145 3 года назад
@@valcron-1000 Did I compare it to any other country? the video is about NZ, was talking about NZ, go play the "whos more poor and miserable game "with some one else.
@theemperor-wh40k18
@theemperor-wh40k18 3 года назад
@@tommierooney6145 2 percent inflation is normal and healthy for the economy.
@almac9203
@almac9203 3 года назад
@@tommierooney6145 2% inflation does not meet the definition of absurd. You obviously are clueless.
@adityasanyal1678
@adityasanyal1678 Год назад
EE is probably the only channel whose in video ads I watch without skipping because they actually makes sense and fit his message too!
@benkirkby1931
@benkirkby1931 2 года назад
Agreed, New Zealand really is like Australia's little brother. Australia constantly mocks and belittles them and we steal their stuff (Phar Lap, Lamingtons, Russel Crowe), BUT we also chuck a massive tantrum whenever New Zealand beats us at something, like any older sibling would.
@devinixm8235
@devinixm8235 2 года назад
We Win These -Sun Tzu, The Art Of War
@Think_Inc
@Think_Inc 3 года назад
Last time I was this early, Hong Kong was in the EE Leaderboard.
@michaelvanberkum2844
@michaelvanberkum2844 3 года назад
Hong kong perished
@thecurrentmoment
@thecurrentmoment 3 года назад
Hong Kong? You mean China? (joking)
@onetwothree4148
@onetwothree4148 3 года назад
too soon.
@abrahamicreligionsbowbefor3585
@abrahamicreligionsbowbefor3585 3 года назад
Will be NZ too soon. Watch out for extremely popular communist leaders, especially when false flags empower them.
@Think_Inc
@Think_Inc 3 года назад
@@thecurrentmoment That’s more a fact than a joke.
@kronos319
@kronos319 3 года назад
EE: friendship ended with Norway. New Zealand is my new best friend
@sudarshann.s5317
@sudarshann.s5317 3 года назад
after all new zealand is his brother
@Julianna.Domina
@Julianna.Domina 3 года назад
@@sudarshann.s5317 My brother and I were never really friends
@fullmetaltheorist
@fullmetaltheorist 3 года назад
**Sad Norwegian noises**
@whtkngofc
@whtkngofc 3 года назад
No job opportunities, expensive (especially housing), low living standards, young people are outcasted unless you're born into wealth. Glad I left for Australia where you are paid your worth, I don't know anyone I grew up with that's both doing well and still living in NZ, they all left. Everyone still there are lifelong renters, unable to get ahead.
@barnaby4232
@barnaby4232 3 года назад
Australia’s too reliant on natural resources and New Zealand doesn’t have low living standards, that’s ridiculous.
@jeremiahduran7238
@jeremiahduran7238 3 года назад
@@barnaby4232 do you live in New Zealand.?
@jeringatai3156
@jeringatai3156 2 года назад
@@barnaby4232 you clearly dont live in NZ. NZ houses arent worth the 800k theyre selling for. Theyre damp and mouldy regardless if they were built in 1990 or 2019. Water across the country is becoming dangerous to drink, rent is unaffordable for those on a LIVING WAGE, living cost is ridiculous.
@barnaby4232
@barnaby4232 2 года назад
@@jeremiahduran7238 no but i visited there if you think they’re low living standards then you’ve never left the country.
@joedennehy386
@joedennehy386 2 года назад
@@jeringatai3156 mate your just as bad as the op who reckons everyone here is a lifelong renter except of course the 65 odd % who own there own home. Hard work and sacrifice built this country, and opportunities are still available. If you sacrifice holidays, eating out, and flash clothes and cars for a while. Work hard and you can get ahead. Stop moaning and get on with it son
@mariakneijber8370
@mariakneijber8370 3 года назад
If New Zealand is doing soooo well. Why do people have to go to food banks, sleep in cars and so on? I tell you why. Everything is economy economy economy and the ordenairy working man have to work for peanuts. They earn the money for the bosses and big multinationals but don't get a fair share.
@Quickonomics
@Quickonomics 3 года назад
The world: "To create wealth and prosperity, we must have the highest GDP." New Zealand: *laughs in frugality*
@jeffb.140
@jeffb.140 3 года назад
New Zealand: *laughs in one of the highest suicide rates*
@fallenangel_899
@fallenangel_899 3 года назад
@@jeffb.140 Suicided rates had decreased from what i've heard and that's really good
@bitwisedevs469
@bitwisedevs469 3 года назад
@@fallenangel_899 but why is that high?
@fallenangel_899
@fallenangel_899 3 года назад
@@bitwisedevs469 I'm not really sure myself.... It's been mostly young people and i've researched some saying it was because of either because of pregnancy's, poverty or family violence.
@fallenangel_899
@fallenangel_899 3 года назад
@Fresh Turkey backwards as in?
@balconydemon4750
@balconydemon4750 3 года назад
the housing prices here are crazy! My house i purchased a couple years ago for 800k is now worth 1.2 Million. I guess its good for me but it will be hard for young people to get on the property ladder. Housing in NZ is like bitcoin.
@ronervine
@ronervine 3 года назад
Same here 190k 5 years ago 550k today, im in the South Island
@ronervine
@ronervine 3 года назад
@Henrich Muller Yeah my wife and I feel.pretty fortunate thats for sure Henrich. We don't earn a whole heap here in NZ So it all helps! :)
@clov3rz
@clov3rz 3 года назад
As a young person, I've already accepted that realistically I will probably never be able to buy a house. With the amount of income myself and my peers spend on rent, it's nearly impossible to save enough in our lifetimes. I suppose it differs for each individual situation/region of course.
@balconydemon4750
@balconydemon4750 3 года назад
@@clov3rz I think part of the problem is that there is alot of uncertainty with currency at the moment. Its hard to trust that paper money is of any value with bitocoin and other cryptocurrencies now in the mix and all the money printing. People are reluctant to give up solid assets and its risky to have assets in money form so things like houses will require alot of money to take off someones hands
@ronervine
@ronervine 3 года назад
@@clov3rz May I ask where you are from Chloe ?
@Calebkingsb
@Calebkingsb 3 года назад
More videos m8!! I really enjoy the work you do. I recommend your videos to friends all the time. Love the video lengths and effort you put in to make the videos. Thanks m8.
@shobhagiri2645
@shobhagiri2645 3 года назад
I just wanted know if you are okay cause you havent posted in a while which is fine but just tell us if you are taking a break so that someone doesnt start to form crazy theories about you
@scottgreen132
@scottgreen132 3 года назад
I'm wondering this too, hope he is ok
@anubisgod23
@anubisgod23 3 года назад
Unfortunately NZ has a massive issue with young new professionals. Its extremely hard to find a job in your field if you have less than 10 years experience
@Peppermintwinter97
@Peppermintwinter97 3 года назад
@@lindelof72 I want to join
@67hutch
@67hutch 3 года назад
yea, I live in New Zealand and I agree. New Zealand isn’t all that great
@anubisgod23
@anubisgod23 3 года назад
@@67hutch i love NZ. I really want to move back. The only thing holding me back is the job market
@scottmcqueen3964
@scottmcqueen3964 3 года назад
This is literally the biggest issue, you have to go overseas to gain experience in order to easily attain a job.
@anubisgod23
@anubisgod23 3 года назад
@@scottmcqueen3964 I hate it. I LOVE NZ. I would've stayed in a heart beat. I got my degree there and made a home. But I couldn't find a job out of University to save my life. I felt I had no choice and had to leave to the UK. I want to go back every day but I know the job market for someone my age and experience is just awful
@britainw8227
@britainw8227 3 года назад
I'm from NZ. Our economy is heading off a cliff at record speed due to a housing crisis and our Govt wont do anything about it! :)
@mashalla3448
@mashalla3448 3 года назад
What do you mean? don’t your remember Jacinda said “that it’s the public’s fault that the housing crisis exists” not the governments
@Harroi
@Harroi 3 года назад
What a capitalist hellhole we live in :)
@cheetaih
@cheetaih 3 года назад
@@mashalla3448 You really believe her? Don't forget she is a landlady.
@beesplaining1882
@beesplaining1882 3 года назад
That's no different to most of Australia. Personal debt is off the chart here.
@kiwibonsai2355
@kiwibonsai2355 3 года назад
@@mashalla3448 yip, those years John Key was in office selling us out to the highest bidders, how's your power bill?
@rakeshjoshi1425
@rakeshjoshi1425 3 года назад
Videos are amazing. Waiting for more such analysis.
@Hotecce1
@Hotecce1 2 года назад
it's funny, John Key worked hard to get us out of debt. Jacinda Adern put us right back into debt.
@smitchered
@smitchered 3 года назад
Stop looking at us. We don't exist. I should know, I live here. Nothing to see down here.
@Julianna.Domina
@Julianna.Domina 3 года назад
East Australia
@fallenangel_899
@fallenangel_899 3 года назад
@@Julianna.Domina west New Zealand
@leandersearle5094
@leandersearle5094 3 года назад
That's odd. I'm replying to comment that doesn't exist.
@JS-jh4cy
@JS-jh4cy 3 года назад
Wear a swimsuit
@joeblow5178
@joeblow5178 3 года назад
How quaint ! A little tiny Canada. 🤣😂
@lazydaisee3997
@lazydaisee3997 3 года назад
Housing in NZ is possibly the least affordable in the world and the country has a steadily growing economic divide that is and will create massive social problems. The banking sector is controlled by Australia and much of the farming sector is owned by China but GDP ignores that (GDP is increasingly irrelevant in a global economy). There is a HUGE mountain of private debt through housing which strangles innovation and investment, and the means of servicing that debt is increasingly inadequate so the country is selling off the land under its feet....this may suffice for a generation or so but the plight of working class NZers is already becoming very apparent. And most young kiwis will struggle to have the standard of living their parents knew.
@snigie1
@snigie1 3 года назад
It had to happen, boomers saved nothing for retirement, without this they'd have been screwed.
@lks5379
@lks5379 3 года назад
Fully incorrect
@judis6224
@judis6224 3 года назад
NZ owned by other countries because of Muldoon,no clue how to run a country.
@Ben-mt4zg
@Ben-mt4zg 2 года назад
@@lks5379 which specific part is incorrect?
@SilviaLH7
@SilviaLH7 2 года назад
I agree. It feels worse than Shanghai. And The house quality is so bad 🥺
@harrywalsh4342
@harrywalsh4342 3 года назад
Hey EE, appreciate your work One thing that's fairly unique to NZ which is pretty key to understanding the pros and cons is the difference in taxation NZ has some of the highest labour taxes and some of the lowest capital taxes, which contributes significantly to the housing boom that continues to progress even faster than before despite the closing of borders due to Covid. Immigration is only a small part of the picture with regards to that.
@alanw2036
@alanw2036 Год назад
Well said. The income taxes were much higher than I expected when I moved to NZ. The government makes income taxes look lower on paper by giving various income taxes different names so they don't have to show the true % income tax on IRD's website. For example, the government adds an extra 1.27% tax called ACC on top of income tax, and that way they can falsely claim income tax is lower by not including ACC in the income tax % on IRD's website. So immigrants are misled into thinking tax in NZ isn't so bad. People in NZ get so little back for such high tax.
@tomwesfog
@tomwesfog 2 года назад
When I loved in NZ I worked as a nurse, I was paid a 5th of what I was paid in Australia, in fact, I could have earnt more on Australia working in a bar, also petrol was $2.20 a litre, which compared to Aus $1.50ish a litre, everything was more expensive, rent food etc.. awsome place though
@Muritaipet
@Muritaipet 3 года назад
One of our main exports is young professionals. One of our main imports are older, experienced professionals, who want a safe and secure place to have a family See what we did there?
@s1.m511
@s1.m511 3 года назад
That just happens with small English speaking countries. Ireland and I think scotland are the same.
@ivanvlasic988
@ivanvlasic988 3 года назад
New Zealand imports cheap slave labour
@petersmith2040
@petersmith2040 3 года назад
Many young professionals have been returning home due to the global pandemic and NZ being Covid free.
@heatherjay8802
@heatherjay8802 3 года назад
@@ivanvlasic988 on what evidence do you base this statement?
@ivanvlasic988
@ivanvlasic988 3 года назад
@@heatherjay8802plenty of articles and stories of migrants being exploited in nz media
@SpencerHHO
@SpencerHHO 3 года назад
Nz can run a government surplus because they run a trade surplus and the banking sector has been allowed to print all the new money through credit which has contributed to their housing credit bubble.
@thebeingdestroyerofworlds8690
@thebeingdestroyerofworlds8690 3 года назад
That doesn't sound sustainible
@Julianna.Domina
@Julianna.Domina 3 года назад
Trade surplus =/= budget surplus In any way.
@darrennicol2442
@darrennicol2442 3 года назад
@@thebeingdestroyerofworlds8690 It isn't, but our finance minister doesn't agree
@thebeingdestroyerofworlds8690
@thebeingdestroyerofworlds8690 3 года назад
@@darrennicol2442 I'm from Spain, and let me tell you, we had one of the worse crashes of 2008 because of exatly the same thing, only in 2019 had the economy recovered
@existenence3305
@existenence3305 3 года назад
Hey!!! Just love your videos!! A humble request...could you do a video on resource-based economies??? Would really appreciate it! Thanks!
@speckledjim5402
@speckledjim5402 3 года назад
Imagine thinking Rogernomics is a good thing. The great southern Banana Republic.
@trustudy6083
@trustudy6083 3 года назад
Its so great that I can't afford a house in my own neighbourhood! Yay! And everything is outsourced and a lot of ownership is overseas! Yay 2! Great economy :)
@chenoah7963
@chenoah7963 3 года назад
mmm yep true
@tovsteh
@tovsteh 3 года назад
But like Australia, NZ's housing prices are through the roof as their government keeps selling off land to foreign investors and allowing their banking system to just rampantly generate mortgages from nothing and have the banks seize the investment where it can or just buy up the land. Is their economy really perfect for the average citizen?
@constantinethecataphract5949
@constantinethecataphract5949 3 года назад
As long as the usury based banking system exists no economy will ever be perfect for the average citizen. The only country that did that was draged into a world war by the bankers and lost
@patmccall4647
@patmccall4647 3 года назад
@@constantinethecataphract5949 is that the eastern Roman empire? Just kidding, but who are you referring to?
@nicholas9898
@nicholas9898 3 года назад
@@patmccall4647 pretty sure referring to ww1 Germany
@houseis
@houseis 3 года назад
@@constantinethecataphract5949 average house price in my city is 1 million dollars and average wage is 35 thousand a year. Foreignors own nz not kiwis now
@constantinethecataphract5949
@constantinethecataphract5949 3 года назад
@@nicholas9898 both ww1 and ww2 tho ww1 was more the fault of Wilhelm's stupidity than the banks
@corporateconfessions6033
@corporateconfessions6033 3 года назад
truly insight work. keep it up.
@richadoemilia958
@richadoemilia958 3 года назад
The government isn't paying the retired enough due to the present situation affecting the economy... I think the best way to earn a living is engaging one self in an online investment.
@morriselizabeth1484
@morriselizabeth1484 3 года назад
I'm a retired nurse for months now and I'm yet to figure out a plan while staying at home, talking about bitcoin I think that should be a great idea.
@ericmorris4876
@ericmorris4876 3 года назад
Investing in assets is the code for having a successful financial life, investing with the right company or software would free you from modern financial slavery.
@NicloasSmith
@NicloasSmith 3 года назад
bitcoin is at 56k currently now, I believe it will raise up before the end of the month.
@waynebradley4444
@waynebradley4444 3 года назад
@@ericmorris4876 and that's why 80% of millionaires today are investors.
@dimitrinatasha664
@dimitrinatasha664 3 года назад
I would want to invest in bitcoin but it's difficult to understand the market.
@lovehatevideo
@lovehatevideo 3 года назад
I've met a lot of really cool people from NZ, but for some reason they all left and never went back.
@paulsz6194
@paulsz6194 3 года назад
Ambrose Shaw you’ve gone a bit off topic here...we still need spare coin to be able to afford BTC, and when or if we want to cash it in, what will be our tax rate? Does capital gains tax apply to BTC? Of so how much? What’s the Tax rate for Capital Gains in your country compared to New Zealand? By the way, good ‘ol USA doesn’t have universal healthcare, so we would have to take that into consider before we decide to move & “ invest”. In fact, I think every should watch the “Tulip Mania” video here on RU-vid before sinking your money into any investment...
@thecat2587
@thecat2587 3 года назад
Plenty more to do offshore that's why
@lautoka63
@lautoka63 3 года назад
@Monarchy is the best! There's some truth in that: New Zealand often becomes home again when kids arrive, as it's a great place to raise them. A "simpler life": well, it's less bureaucratic than most other places, little corruption, less pressure of people (try Victoria station to see what I mean) and a country where there are about 3 degrees of separation from almost anyone, so you can know practically anyone. And unlike the UK & Europe (where I've lived) there's little inherent class structure, so we don't wind up with an equivalent (if there is one) of Boris Johnson. One quite likes it.
@johnsmith-ch7fg
@johnsmith-ch7fg 3 года назад
But it's an example of socialist paradise - replaced Sweden for lefties from elsewhere
@deanharrison4988
@deanharrison4988 3 года назад
john smith there is no such thing as a socialist paradise the two are not mutually compatible.
@nickbuckle646
@nickbuckle646 3 года назад
This guy is talking bollocks NZ is expensive, high cost of living. It's a nice place for sure but no better than plenty of other countries
@laurencefraser
@laurencefraser 3 года назад
I'm lead to believe that cost of living drops pretty noticeably if you get out of Auckland. Though it's still not exactly low. Still, there are a lot of places that are worse, many of which Shouldn't be, as well.
@charger348
@charger348 3 года назад
This idiot doesn't know nothing about living in New Zealand. Don't believe it, it is expensive and has low wages and most young people are never going to own their own homes. A truly bollocks story.
@kondwanimututa2302
@kondwanimututa2302 3 года назад
@@charger348 The problem with EE is he has a very Keynesian look on the economy. Unfortunately the government has no financial incentive to provide high quality services at a low cost. To me new Zealand is another country were the people would be much more wealthy but they aren't because their too paying for overly expensive public services. The only things the government does well is fighting wars and providing security.
@AndrewB21
@AndrewB21 3 года назад
With all due respect, how do you figure warring as being our forte when we have such a pitiful military, and it's only ever used for peacekeeping?
@MrSilverfish12
@MrSilverfish12 3 года назад
@@AndrewB21 he didn't say it was our forte. He was simply stating what government in general is good at. He wasn't talking about the NZ government with our incredibly overpowered airforce, consisting of one Hercules and a few helicopters and an outdated UAV that uhhhh tracks stuff lol
@realtruth4804
@realtruth4804 2 года назад
Low wages and the highest house prices in the world. Yep its a paradise down here
@balazsszuhodovszky4974
@balazsszuhodovszky4974 3 года назад
Hi I’m an A-level Economics student and I love your videos, would you consider making a video on Hungary and it’s economic situation as it has progressed since 1989 thx
@houseis
@houseis 3 года назад
A lot of blue collar workers aren't employed but on contract so dont get any of those employee benefits you mentioned. Everything is expensive here, you have to work hard to survive it's not some relaxed take it easy and you can live in a big house. In Auckland you need to work your a off to afford a crappy little apartment because foreignors have forced all the house prices up
@AndrewB21
@AndrewB21 3 года назад
I remember how affordable housing was growing up in Auckland in the 80s to 90s. Then early-mid 2010s came and all of a sudden all the houses were nearly triple the price they were back then, without an equivalent increase in incomes. Poverty has gotten worse, and homeless people, something I never used to see, are a constant presence in the CBD. I don't get why so many people have such a raging hard-on for our country as it is right now. It's a lovely place, but it's much tougher to get by than it ever used to be in the past. But it's okay, cause people on the internet can tell you what reality is better than people in real life.
@slozenger9000
@slozenger9000 3 года назад
@@AndrewB21 Have you tried living somewhere else for comparison?
@christodang
@christodang 3 года назад
​@@AndrewB21 To be fair I think those are generally trends worldwide, especially if you look at urban centers specifically. Affordability has pretty much risen in every major city and displaced many people (contributing to some of the homelessness issues)
@stevecrockett4414
@stevecrockett4414 3 года назад
@@AndrewB21 Yep ... housing was sort of affordable to the majority of NZers throughout the 50's, 60's and 70's ... most NZers then were middle class and/or blue collar workers. mind you ... Interest rates for mortgages were through the roof! I left NZ in the 80's and came back home in 2014. During that time, all rules for banks and lending institutions were eased, removed or otherwise blown away and there was a sudden increase in real estate "entrepreneurs" and other such bottom feeders. The middle class disapperared and there were a whole heap of parasites who preyed on the NZ population and made obscene amounts of money to the detriment of the general population. An influx of foreign buyers of housing and a trend towards land banking has completed the execution of the gentle and supposedly peaceful NZ way of life!
@bigrathole
@bigrathole 3 года назад
@@slozenger9000 we don't settle just because other places suck. XD
@sbani6887
@sbani6887 11 месяцев назад
I like this video. It is very impartial not biased at all.
@ZanWK5678
@ZanWK5678 2 года назад
This video is aging ABOSOLUTELY PHENOMENALLY considering our main city has been stuck in lockdown for over 2 months. Ah yes, perfect.
@ahobbyist9520
@ahobbyist9520 3 года назад
In other words: Everything is fine, except the cost of housing, that's pretty expensive, but OTHER than that, everything is fine.
@WayToManyAssassins
@WayToManyAssassins 3 года назад
The cost of EVERYTHING is expensive.
@samwatson5394
@samwatson5394 3 года назад
Everything is expensive here and getting worse. I swear every week even if I buy the same things from the same store it goes up by $10. I earn a good wage and still struggle
@WayToManyAssassins
@WayToManyAssassins 3 года назад
@@samwatson5394 My mums hairdressing bill went from $80 to $140!! Just like that no explanation. People charge what they want in this country because they know the people that CAN afford it will pay
@alchapopapo
@alchapopapo 3 года назад
Our food cost is also horrendous. We pay more for our own meat here than they do in aussie.. its worth more as an export,like most things. Petrol.... $2 + per litre.. not cheap. Utilities are also quite high. No country is perfect. It is what you make of it ♡
@devluz
@devluz 3 года назад
NZ also has one of the worst suicide rates. So yes we have a great economy while we are homless and kill ourselves.
@nem447
@nem447 3 года назад
As an immigrant to NZL who's been all over the world, I can say without bias that it's a close as you can get to a developed world civilized paradise. The one giant elephant in the room is the cost of housing!
@neversayneveragain3748
@neversayneveragain3748 3 года назад
Paradise???? Please...
@MrCairncross
@MrCairncross 3 года назад
@@allanlindsay72 Queensland
@Vasious8128
@Vasious8128 3 года назад
@@allanlindsay72 Well I suppose if you ignore the housing cost, living costs, children in poverty, the crime, meth, Oranga Tamariki, youth suicide rate, and so forth then anywhere can be a paradise
@Vasious8128
@Vasious8128 3 года назад
@@allanlindsay72 they will never be fixed or reduced if we just pretend they don't exist and it is a paradise.
@Vasious8128
@Vasious8128 3 года назад
@@allanlindsay72 Yup a paradise so long as you have all you luxury and never have to hear anything different. Makes me proud to be a kiwi
@letswatchrandomvideos8473
@letswatchrandomvideos8473 3 года назад
Thank you for this another wonderful video. Really learned a lot. I wonder if you can make a video about the economics of start-up companies and how funding them works. And is it efficient and effective?
@randomaccount53793
@randomaccount53793 2 года назад
Yea, NZ is in a property crisis, especially in Auckland... The average house price has jumped 250k in the last year, compare that with our measly ~60k (USD42k) median wage, and there is a whole generation of people that will never have the opportunity to own a home. The average house price is New Zealand just recently passed $1m (USD700k). The average Aucklander saving 20% of their salary would take 30 years to save just a 20% deposit (assuming house prices stopped rising). The govt recently removed the tax deduction on interest accrued on investment properties, so rents are about to go up even more as well. Paying to keep the poor in motels is keeping them from living in cars for now, but we've dug ourselves into a huge hole.
@angusielts7.00
@angusielts7.00 3 года назад
Having lived in NZ for 4.5 years in the noughties, I have these observations: Farming: I've never seen cows so densely farmed anywhere in the world. This has resulted in NZ having the most polluted rivers in the OECD (according to news stories while I was living there). There were also regular stories about disease and animal welfare issues. The dairy industry is what keeps NZ afloat, if any large country steps into that sector, NZ will have real problems. Housing: if you're not into dairy farming, you have to join the NZ property money-go-round. When I arrived in Auckland in 2006 I was shocked at how overpriced property was with the mean price being NZ$0.5M. By the time I left (in 2010) the mean price was NZ1M, or 9x household income. "Household income", not the breadwinners', the entire income of all family members. Property prices weren't only being fuelled by NZ speculators, they were mostly subject to speculation from China, Hong Kong, Taiwan and South Korea. The government kept talking about market intervention, but most MPs are in the game and like turkeys, won't vote for Christmas. It's a beautiful country that is not without problems. I'm surprised to hear that the net outflow of people to Australia continues.
@cheetaih
@cheetaih 3 года назад
The net outflow of Kiwi to Australia has been an issue long before 2006.
@tacitdionysus3220
@tacitdionysus3220 3 года назад
Which explains why 15% of their population live in Australia.
@mtl-ss1538
@mtl-ss1538 3 года назад
`That increases the IQ of both countries.!!! lol
@tacitdionysus3220
@tacitdionysus3220 3 года назад
@@mtl-ss1538 Maybe they could count that as one of Jacinta's miracles in support of her canonisation (isn't she jist fentestik!)
@andrewkerrigan5835
@andrewkerrigan5835 3 года назад
New Zealand still uses Australia as a penal colony
@seanhamilton4175
@seanhamilton4175 3 года назад
It's around 5%
@mikespearwood3914
@mikespearwood3914 3 года назад
@@seanhamilton4175 Incorrect. Over 650,000: around 15% of NZ's citizens.
@MrFelipecheca
@MrFelipecheca 3 года назад
Would love to see a video of the "Economics of Remote Working"....the impact it will have on salaries and access to talent.
@alekseimarianov3388
@alekseimarianov3388 3 года назад
A review on the economy of Iceland, please!
@TheECSH
@TheECSH 3 года назад
new zealand's real estate market is pretty much all saturated with chinese buyers so rich that they pay cash and outbid any local kiwi
@JohnJohnson-qm3mr
@JohnJohnson-qm3mr 3 года назад
There is also the problem that development is restricted heavily by the RMA so supply can't be fixed
@ShimmeringSword
@ShimmeringSword 3 года назад
@Fresh Turkey but NZ is a liberal haven haha. More so than even many liberal US cities (I've lived in NZ and the US).
@houseis
@houseis 3 года назад
100% the average kiwi will never afford a house in auckland because foreignors are pushing up the prices to ridiculous levels. The average house price is now 1 million dollars in auckland when average wage is 35k. How can someone possibly save a deposit and pay a mortgage on that? Wealth disparity will become a extreme problem here in a generation
@moffattron9000
@moffattron9000 3 года назад
They banned Foreign Buyers back when Labour went into coalition back in 2017. Since it turns out that Kiwis are still moving into cities because modern economic forces likes Cities; housing prices are still going up because people are still moving to cities. Meanwhile, New Zealand is still suffering through the same old housing error that you see in many modern Developed Economies. Housing stock is dramatically not growing at the rate that is needed to account for the growth in population. It's why Christchurch, the one city that is building far more housing stock than the rest of the country, now has a lower average price of housing than Dunedin. If someone told you that would be the case a decade ago, you would rightfully be laughed out of the room.
@ShimmeringSword
@ShimmeringSword 3 года назад
@Fresh Turkey well yeah. The idea of classical liberalism no longer applies to the political term liberal. Dumb as that is, it's time to move on from trying to reclaim that word.
@RatelHBadger
@RatelHBadger 3 года назад
I wouldn't say it's a perfect economy...
@mattyallen3396
@mattyallen3396 3 года назад
Far from it
@wilsonov87
@wilsonov87 2 года назад
Perfect for those who profit from it I guess
@RatelHBadger
@RatelHBadger 2 года назад
@@wilsonov87 isn't that everywhere though
@hansantonio110
@hansantonio110 Год назад
its perfect
@RatelHBadger
@RatelHBadger Год назад
@@hansantonio110 perfectly in debt, with massive food shortages and crooked leaders, sure.
@ladylandlubber499
@ladylandlubber499 3 года назад
Everything's great until you realize you spend 50% of your income on rent for somewhere far to small thus making it nearly impossible to save unless you're overly frugal XD
@ChoogyNet
@ChoogyNet 3 года назад
Excellent economics upload talking on NZ
@vf00
@vf00 3 года назад
as a new zealander i was waiting for this video for
@grizzy-thekiwi1144
@grizzy-thekiwi1144 3 года назад
i always smile a little when my little nation is the topic of a video
@holidaytravellerholiday7366
@holidaytravellerholiday7366 3 года назад
Very nice video
@rideausheep
@rideausheep 3 года назад
Hearing from NZ's living here in Canada they tell a much different story, I think you put on your rose coloured glasses for this video.
@chrisharris1522
@chrisharris1522 3 года назад
maybe you need to try a sample of NZers that includes people who did not emigrate, if you only ask people that left because they weren't happy then of course the conclusion you get will be negative
@michaelenright1089
@michaelenright1089 3 года назад
@@chrisharris1522 this EE is only looking at the basic economic statistics and not looking at the wider economy. Such as median wages living expenses housing Cost's etc.Auckland for instance has the highest house prices to income disparity in the World.25% of children are living in poverty.given a rapidly ageing population our future generations earnings are going down. Without investment in housing ,education NZ's future is not so bright. EE's narrow focus on basic statistics than can be accessed by anyone for free in most countries online for free .EE is charging for 1/2 the story no indepth research on what's really happening in their overpriced posts
@jeringatai3156
@jeringatai3156 2 года назад
Most non NZers wear rose coloured glasses when looking in NZ. I LOVE NZ simply because its my home. But, like many others, other countries have treated us far better. Wages are far higher and youre not forced to work longer hours in other countries. I get paid above living wage in NZ and am just getting by whereas living in Australia I was living more comfortable and had money to spare. Same job in both countries but Australia paid $12 more than NZ. Other countries pay you what youre worth, NZ pays min wage OR just enough to keep you there. My boss just told me, Im getting a pay increase in 2 weeks. The weird thing is, the day before she told me that, I told her she might get a phone call, because I had just come from a job interview and that job wanted me to go in the next day. It seems my pay increase is just to keep me from leaving 😬
@chrisharris1522
@chrisharris1522 2 года назад
@@jeringatai3156 what you say is true however in Australia as a kiwi you do not qualify for many social benefits like you would in NZ but I guess if things get tough in Aus you can just jump on a plane and come back to NZ and have NZ tax payers take care of you
@benji-pj4dp
@benji-pj4dp 3 года назад
I guess that's why they all move 9ver to Australia to work in the mines
@tolotonga69
@tolotonga69 3 года назад
Hhhh so right I'm in nz an everyone iknow are moving to aus for the money an we have more homeless people than Australia hhhh
@benji-pj4dp
@benji-pj4dp 3 года назад
You also have extremely expensive fuel prices and much lower wages
@cheetaih
@cheetaih 3 года назад
@@benji-pj4dp Correct.
@justintomlinson9311
@justintomlinson9311 3 года назад
I love nz but there’s a ton of hubris and false skewed info here.
@dunnowy123
@dunnowy123 3 года назад
I love when someone alleges something but doesn't even explain why they have alleged it, let alone provide evidence lol. You wouldn't cut it in the renowned legal system of New Zealand
@markreynolds7890
@markreynolds7890 3 года назад
@@dunnowy123 guess th info isnt "false" but alot of info has been lft out, eg the finacial sector generates more income the primary sector and tourism, thnk its about 28% of gdp
@justintomlinson9311
@justintomlinson9311 3 года назад
@@dunnowy123 yeh it’s great life, I can say and do what I want. :-)
@darrennicol2442
@darrennicol2442 3 года назад
@@dunnowy123 I gotta agree with James Blip, our legal system is laughable.
@ns7023
@ns7023 3 года назад
You legal system sucks? F this come to Mexico, or go to Argentina and ser for yourselves a real flawed legal system
@rbm8991
@rbm8991 3 года назад
I never really fully lived in NZ however I do have a passport and my family did live there before I was born. Looking at the pictures and stories I have heard about my family's stay at NZ, it seems as though it was a really nice place.
@francescathomas3502
@francescathomas3502 2 года назад
40 and 50 years ago NZ WAS a great place to live, but since the 1990s it has become far more expensive!!!
@stonkscronks1999
@stonkscronks1999 2 года назад
seems as though. If I could afford to get out I would
@jlnbello94
@jlnbello94 3 года назад
Lovely video and all, but you have to do a video on the GME short-stocking drama!
@harisadu8998
@harisadu8998 3 года назад
When you talk about fertilizers, you show footage of pesticides. I think New Zealand has fairly high pesticide use.
@john0032
@john0032 3 года назад
Not as much as your country .....
@itchyballbag5076
@itchyballbag5076 3 года назад
We love pesticides here in New Zealand. We use 1080 by the ton, been virtually banned from everywhere else in the world and that's only one of them there are plenty more. Then there's the herbicides like round up and glycosphate we love the stuff. Japan even issued NZ with a warning last week for Glycosphate in our exported Honey. Don't believe everything about clean green NZ...it's all smoke and mirrors.
@harisadu8998
@harisadu8998 3 года назад
@@itchyballbag5076 By the way, there is nothing wrong with appropriate use of pesticides as per the instructions of the government and labels. It's a heavily regulated industry. Agriculture would be very difficult without pesticides but there will eventually be a decline in use as better methods are found. Nonetheless, they aren't as bad as they get a reputation for.
@sally6102
@sally6102 3 года назад
Hari Sadu , you think! No Pesticides are NOT high in NZ farming!
@harisadu8998
@harisadu8998 3 года назад
@@sally6102 I didn't say that there is overuse or that there are excessive pesticide residues. I just said that the use is widespread. Two different things.
@bvagasky83
@bvagasky83 3 года назад
Literally last night I was wondering when EE would do New Zealand!
@gir2005
@gir2005 3 года назад
I just have to face the fact i'll never be a home owner.
@jeringatai3156
@jeringatai3156 2 года назад
@Pro Tengu is it cheaper ?
@stefan_4508
@stefan_4508 2 года назад
Just move country g, I’m not gonna live here forever
@gir2005
@gir2005 2 года назад
@Pro Tengu ight ill be there
@Nikhil_George
@Nikhil_George 3 года назад
Juzz remember that there's a crowd waiting for your videos....🙃
@Xashe
@Xashe 3 года назад
Thanks for your video, I found it very informative. As a New Zealander though I must say the housing situation is more complex than being caused only by immigrants coming here to buy homes. There's been a recent surge in house prices (or a constant increase depending on how long you've been watching) since last year due to returning citizens from overseas due to COVID, and low interest rates for home loans. The inability for many people to purchase homes is very real, and rents aren't getting much cheaper either.
@samashby8203
@samashby8203 3 года назад
The biggest reason - not enough houses being built to satisfy demand (from Kiwis, let alone immigrants)
@HasFace
@HasFace 3 года назад
@@samashby8203 that's actually not strictly speaking true, there are over 190,000 empty but habitable houses as at the last census. It's less about the number of houses being built but rather the number of new + existing housing being supplied. Most new demand isn't to live in either, it's simply demand to own property and get that sweet sweet untaxed capital gains There is a challenge building new houses, but there is also no incentive to get tenants into empty properties, if your portfolio is paying the bills who cares if a few of them are empty - or at least argue my sociopathic landlord friends.
@samashby8203
@samashby8203 3 года назад
@Economics Explained???
@muppetb.lansing8374
@muppetb.lansing8374 2 года назад
Our highly intelligent Reserve Bank Governor recently said that low interest rates only play a "bit part" in the housing crisis. Someone gave this idiot absolute power over setting interest rates in NZ. What a shambles
@JumpOnJohn
@JumpOnJohn 3 года назад
I assure you - the regular worker does not live *comfortably* in New Zealand these days
@FastKiwiBoss
@FastKiwiBoss 3 года назад
Correct....
@houseis
@houseis 3 года назад
You have to rat race like mad to afford a crappy little apartment in Auckland now
@this_is_not_my_real_name
@this_is_not_my_real_name 3 года назад
Exactly what I was thinking
@maximthefox
@maximthefox 3 года назад
Its almost like capital accumulation by private individuals completely disregards the working class
@GenerationBright
@GenerationBright 3 года назад
I literally work 6 days a week, live in the shittiest and cheapest residence I could find, and I'm saving less than 100 each month. I don't own a car either. I have no idea how others cope but I feel so strangled at the moment
@olivegrove2615
@olivegrove2615 2 года назад
NZ has extreme inflation and toxic waterways from excessive farming. NZ farms have exemptions from addressing emissions and farming pollution so they are generating the methane of a population of 300 million people and no requirement to reduce it.
@josephhesse2634
@josephhesse2634 3 года назад
what happens to the weekly vdo
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