Lesser teams have beaten the tournament favorites in the ongoing T20 World Cup Down Under.
Defending champions Australia got knocked out of the tournament after England defeated Sri Lanka by four wickets at SCG on Saturday.
According to Taylor, conditions in Australia have kept a level playing field. As a result, less fancied teams have managed to produce a number of upsets.
Earlier in the competition, Namibia defeated Sri Lanka while two-time champions West Indies lost to Scotland and Ireland in the qualifying round. On the other hand, England suffered a shock defeat to Ireland and Zimbabwe stunned Pakistan in a last-ball thriller.
"New Zealand, South Africa and Australia were the teams struggling the most with their form leading up to it and here we are talking about South Africa and New Zealand making the semi-finals," Taylor told AFP.
"It's about the day really and that's what I have enjoyed about this World Cup. The team that performs on the day are having a big impact, a few of these upsets and stuff like that."
During the T20 World Cup in UAE last year, the teams chasing won 12 of 13 games played at the Dubai International Stadium.
"If you look at the UAE leg, the toss played a big part but here, playing at so many different venues and to adapt, it's been good to watch," said Ross Taylor, who retired from international cricket earlier this year.
In Group 1, New Zealand topped the points table and qualified for the semifinals with England being the second team.
Asked if the Kiwis look favourites to lift the trophy this time around, Taylor replied: "Yeah, I think so, there is an opportunity."
(With AFP inputs)