New Zealand has a developed economy focused on export and import of goods and services based on market openness and free trade with strong protection of property and intellectual property rights. New Zealand is a member of WTO and APEC. Additionally, country currently ranked as a 3rd among entire world with the finest and freest economic environment according to the index score 82.1 out of 100 for the 2015. (The Heritage Foundation, 2015) What’s, more indicators such as unemployment rate of New Zealand is 5.4. Moreover, inflation rate is just 1.2 percent then country ranked 8th out of 120 according to GDP per capita around the world (New Zealand Government, 2015). So all these positive factors together lead...
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...t coast on the south island will be most affected by El Nino already suffering from the dryness for twelve months which can cause a loss of harvest and business itself. Valuable commercial sorts of fish usually dwelling in cold water will migrate from shores so New Zealand’s fishing industry is about to experience difficulties. More dryness and stronger wind on south island generated from El Nino phenomenon could lead to enormous wildfire and destroy huge amount of valuable sorts of wood and plants which can cause lots of troubles for local forestry industry. On the other hand El Nino weather patterns could have a very positive effect on businesses operating in tourism industry in New Zealand. Big waves, dry and warm weather with plenty of sunny days will bring larger amount of tourists this coming summer where all tourist agencies will benefit from it. (Trask, 2015)
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