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New Zealand is an island country in the south-western PacificOcean comprising two main landmasses (the North Island and the South Island)and numerous smaller islands, most notably Stewart Island/Rakiura and the ChathamIslands. The indigenous Māori named New Zealand Aotearoa, which is commonlytranslated into English as The Land of the Long White Cloud. The Realm of New Zealand also includes the CookIslands and Niue, which are self-governing but in free association; Tokelau;and the Ross Dependency (New Zealand's territorial claim in Antarctica). NewZealand is notable for its geographic isolation, situated about 2000 km(1250 miles) southeast of Australia across the Tasman Sea, and its closestneighbors to the north are New Caledonia, Fiji and Tonga. During its longisolation New Zealand developed a distinctive fauna dominated by birds, many ofwhich became extinct after the arrival of humans and the mammals theyintroduced. The climate throughout the country is mild and temperate, mainlymaritime, with temperatures rarely falling below 0 °C (32 °F) or rising above30 °C (86 °F) in populated areas.

New Zealand has a population of about 4.2 million, most ofEuropean descent, with the indigenous Māori being the largest minority. NewZealand immigration policy is relatively open; its government is committed toincreasing its population by about 1% annually. In 2004–05, a target of 45,000was set by the New Zealand immigration Service. Twenty three percent of thepopulation was born overseas, one of the highest rates anywhere in the world.At present, immigrants from the United Kingdom and Ireland constitute thelargest single group, accounting for 29% of those born overseas but immigrantsare drawn from many nations, and increasingly from East Asia (mostly China, butwith substantial numbers also from Korea, Taiwan, Japan, and Hong Kong).  English and Maori are the two officiallanguages.

Over the past 20 years the government has transformed NewZealand from an agrarian economy dependent on concessionary British marketaccess to a more industrialized, free market economy that can compete globally.This dynamic growth has boosted real incomes - but left behind many at thebottom of the ladder - and broadened and deepened the technologicalcapabilities of the industrial sector. Per capita income has risen for eightconsecutive years and reached $27,300 in 2007 in purchasing power parity terms.Consumer and government spending have driven growth in recent years, andexports picked up in 2006 after struggling for several years. Exports wereequal to about 22% of GDP in 2007, down from 33% of GDP in 2001.

Tourism plays a significant role in New Zealand's economy.Tourism contributes $12.8 billion (or 8.9%) to New Zealand’s total GDP andsupports nearly 200,000 full-time equivalent jobs (9.9% of the total workforcein New Zealand). Tourists to New Zealand are expected to increase at a rate of4% annually up to 2013. New Zealand’s housing market has significantly slowed, andthe long-expected correction seems to be underway. Non-residents are generallyallowed to buy houses in New Zealand. However, be aware that purchase ofproperty does not give the buyer the right to live permanently in New Zealand.