@ipoopfool: as is often the case, it all depends what your objective is.
A priori creating a link is to show there is a connection between two notes (e.g. a link from note1 to note2), and if you want to see (leaving aside the popover) or edit note 2 you only need to click on the link. So far so good.
Now, if your note is fairly short and the visual distance between 2 instances of New Zealand is short, you don’t need a 2nd link because you already have one close by.
If, OTOH, you have a long note and the second time New Zealand is quite far from the first instance, you could link to New Zealand a second time, or a third, fourth, etc. time.
There are no hard rules about this, and there is no right or wrong way, there is only your way.
What I wrote here is not much different from what @icebear stated, I just thought I’d flesh it out a bit to give you some more ideas.