Australia is having one of the most reputable B-schools in the world, like Melbourne Business School, Monash, UT Sydney, Australian National U, Bond University and few more. One can definitely compare the quality & outcome with few of those top b-schools in North America. As per our experience, these b-schools focus more on the work experience than the GMAT score.
New Zealand is also one of the upcoming educational hubs in the south pacific, with few good number of universities & colleges. Education in New Zealand is less expensive as compared to USA, UK or Australia. It is an English speaking country with great opportunities to stay further after education.