I was researching NZ programs for a long time.
It all depends on what you're looking for.
MBA itself won't get you a job in NZ. It will give you an opportunity to look for one, but still NZ employers are mainly looking at your experience rather than a degree. However, having a degree certainly wouldn't hurt. Remember that NZ job market is very tight.
You need to know that many MBA programs in NZ don't require GMAT (you're still may need this though) and their admission criterias are not very challenging compared to the requirements of the let's say top 100 MBA programs in the US, which can easily destroy one of the greatest MBA experiences - Peer-to-peer learning, since you can end up with a weak student body.
Also, if you are comparing MBA programs in NZ and in the US, you need to keep in mind that although MBA programs in the US are more expensive than those in NZ, there are still more funding opportunities in the US, especially if you're an international student. With some effort and luck, you can get full-ride for your US MBA degree, even get part of your living expenses paid. NZ universities are not very generous with international scholarships. You can work off-campus though no more than 20 hours a week, but you still need to look for a job on your own and this load may take your focus away from studying.
I chose not to apply to the NZ MBA program because for me the possible outcome from that kind of programs in NZ in no way matches the time and money spent. There are other less expensive opportunities to get PR in NZ if you are interested in staying there. There are great agriculture, sustainability and visual design programs in NZ, but if you're looking for an MBA program, it's better to look somewhere else.