Author: Charlotte Gill

Technological developments enhance the travel experience

Posted on by Charlotte Gill

As little as a decade ago, the standard protocol for researching and reserving a business trip involved going through a local travel agent. Wall-to-wall brochures depicting every corner of the planet and experts making face-to-face recommendations was the traditional format that had been in place for years – and while, of course, such shops still exist, they are frequented by far fewer travelmakers. Travellers nowadays opt for experiencing the booking process from the comfort of their own homes – or, in fact, anywhere that they happen to be. “Whereas you used to take your travel agent’s word on whether a hotel was up to scratch, now you scroll through reviews on TripAdvisor as a first step before booking”, says Dan Kelly, Director of Product Marketing for Carlson Wagonlit Travel (CWT).

Technology has not just transformed this booking process – it has influenced how we live out our entire trips

Technology has not just transformed this booking process – it has influenced how we live out our entire trips. Whether a hotel offers free Wi-Fi is an increasingly influential decision when booking accommodation – we are so used to having a world of information at our fingertips that the notion of living without it for a week or two is simply not good enough. Even various airlines, including Emirates, Norwegian and Air China, are beginning to provide free inflight Wi-Fi. This is particularly important for the business traveller, who can now access emails throughout a trip and thereby maximise the limited time between meetings and visits.

Online revolution
While numerous sites are available for individuals looking to book their own travel, such as e-Bookers, Travelocity and TravelSupermarket.com, the one that has sent the biggest ripples through the travel industry is Airbnb: founded in 2008, the online platform offers people the chance to lease their homes for any given period; meaning that travellers have the option to stay in any type of accommodation, within any area of their choosing. The company states on its website, “Airbnb connects people to unique travel experiences, at any price point, in more than 34,000 cities and 190 countries.” The success of the firm highlights one area in particular where technology has made a substantial difference to travel – the level of choice now available for every aspect of a trip. In the case of Airbnb, individuals can choose accommodation that meets their every need and desire, whether it is staying in a house fit with a washing machine or renting a medieval castle complete with its own moat. Although such platforms are used largely for private travel, the fact that they offer more affordable options for businesses on a tight budget means that they are slowly starting to make headway in the corporate sector as well.

Social media has also revolutionised the industry, deeply influencing people’s travel choices and habits. For many, a picture or intermittent narrative is uploaded throughout their journey – from the moment that they check-in at the outbound airport to the final meal of the trip. Shots of beautiful scenery are posted as frequently as mentions of any encounter with bad service and poor facilities. For better or for worse, this has put a great deal of pressure on those in the travel industry, from airlines to hotels and hostels, and all of the restaurants inbetween.

As a result, those in the sector are finding new ways to adapt to the internet revolution and use it to their advantage. “We developed CWT Hotel Intel – a TripAdvisor-style platform”, Kelly told Business Destinations. “Each business we work with can have their own private reviews site, so their travellers can check out what their colleagues think of hotels. This works because business travellers often go to the same areas and need information that is relevant to them.” One major advantage of social media platforms is that small to medium-sized venues and businesses now have an opportunity to promote themselves to the world in a way that was never before possible.

Tech amenities
People have become accustomed to immersing themselves in technology, and the convenience that this way of life brings with it. As such, a growing number of hotels are responding to changes in both consumer needs and personal habits. “The increase [in] millennial travellers has prompted hotel chains to update their facilities to allow better connectivity and more flexibility. Some brands have even launched new sub-brands to appeal to millennial travellers, such as Marriott’s Moxy hotels. These offer communal work areas, all-night stores instead of room service and are branded to be modern and relaxed”, Kelly explains.

One hotel that is leading the way in terms of technological facilities is Eccleston Square Hotel in Belgravia, London. Olivia Byrne, the founder and director of the hotel, told Business Destinations, “When we opened the hotel in 2011, we implemented a lot of technology, and we were quite forward-thinking back then. People had mixed reactions to it because they didn’t understand why we were so hi-tech, but I feel like, especially now, there’s a huge movement towards technology, and that’s all people can talk about in the hospitality industry.”

The Eccleston Square Hotel features iPads in every room, which act as a digital concierge for customised room service, as well as keypads that control everything from lighting to music. “We also created an app for the hotel that can be downloaded on your phone prior to checking in – once you’ve checked in you can make a request, even when you’re off property”, Byrne explains. Everything in the hotel screams high technology, from its 46-inch HD 3D Neo Plasma Panasonic TVs and state-of-the-art Hästens massage beds to bathroom mirrors that have been fitted with concealed flat-screen televisions. All clients’ technological needs are met, with an array of docking stations for smartphones and integrated UK, European and US plugs included in every room. “It’s really important to offer great connectivity to the guests”, says Byrne. The hotel certainly has a feel of the future, clearly marking the direction in which the rest of the industry is heading.

Customer care
As technology continues to evolve, so do consumer expectations. Evan Konwiser, Vice President of the Digital Traveller department at American Express Global Business Travel, told Business Destinations, “This raises the bar for the kind of technology that we, as a travel management company, need to provide to our customers and their travellers, as their expectations and demands shift.” As such, greater convenience is a key factor in the wholehearted embrace of travel technology. On this subject, Kelly notes: “Business travellers will soon expect to be able to book all aspects of their trip from start to finish on one app, in one go, which is why we provide our customers with door-to-door booking and expense capability, and will be integrating this on CWT To Go in the early summer.”

Personalised travel is another key trend that comes hand-in-hand with technology, with examples including using browsing history to adapt search results, and utilising geolocation data to help customers navigate in unfamiliar surroundings. Even proactively re-booking when trips are disrupted is now possible. Technology therefore enables individuals to travel with increasingly greater ease and enables firms to provide even better customer service. “One recent area of focus is our traveller care solution, AX CONNECT. It’s a visual traveller tracking and two-way messaging communication tool that enables travel managers to alert and pinpoint travellers impacted by disruptions like natural disasters, [and] communicate with them via email and SMS”, says Konwiser.

The future is tech
“People have adopted technology in their homes and in their lives – the hospitality industry had to react to that”, says Byrne. Of course, there are various challenges that have arisen as a result of this makeover to the travel sector: out-dated companies are buckling under the pressure of new trends, and those that do not keep up with the pace are soon left behind.

The cost for hotels to transform their buildings into tech hubs is often unviable, while the threat of ‘sharing economy’ practices looms sternly. Although this type of accommodation has affected leisure travel far more acutely than its corporate counterpart, as those travelling on business often opt for better security and away from unwanted surprises, this too is beginning to change.

Despite the various challenges associated with it, technology has undoubtedly improved the travel experience, making it easier, more convenient and far safer. It offers both business and leisure tourists better service and value for money, while also expanding their level of choice exponentially. The explosion of variety as a result of technological innovation is not just limited to travel; it permeates every facet of life and can be attributed to the current era of globalisation. As technology continues to evolve, so will the advantages that it brings and the ability it has to bring people and nations closer together. As revolutionary as some aspects of it may seem, travel technology is not just the way of the future – it’s already here.

Gulf carriers threaten America’s airline oligopoly

Posted on by Charlotte Gill

“We understand that despite no evidence, an oft repeated myth can ultimately be accepted as conventional wisdom”, wrote Emirates Airline’s President, Tim Clark, in a statement refuting accusations that the airline receives government subsidies. His rather candid sentiments on the matter are understandable, as allegations of unfair competition have been directed at Gulf carriers for some time now, with little evidence to substantiate the claims made against the big three – Emirates, Etihad and Qatar.

But proof of wrongdoing may have finally surfaced, with three of the US’ largest airlines – American, United and Delta – claiming they have details that prove that their Persian Gulf competitors have received government aid totalling $42bn since 2004. The 55-page dossier containing the evidence was recently presented to the US Government for review. The US carriers are hoping that Washington officials will view the evidence as a breach of the Open Skies treaty and repeal provisions provided in the agreement. In reality, however, the allegations say a great deal more about the state of the US aviation industry and the dangers that oligopolies present when allowed to take root.

There is also an argument to be made that US carriers’ accusations are hypocritical

Toppling the competitors
The Open Skies treaty, which was ratified in 2001, aims to create a free, open and – above all – undistorted market in international air travel between the US, Qatar, and the UAE. The treaty was based on the idea that consumers best benefit from free-market competition, and so the airline that is able to provide travellers with the best offerings comes out on top. But a big component of the Open Skies agreement – and any free-market – is that no individual company should be the recipient of anything that may provide it with an unfair advantage over its competitors.

According to the Financial Times, the charges directed at Emirates include a government assumption of $2.4bn in fuel hedging costs, $2.3bn worth of savings attributed to artificially low airport charges at its Dubai hub, and $1.9bn of savings from Emirates’ non-unionised workforce. “The main criticism levelled at Emirates by rivals is that it benefits from indirect government subsidies in the form of cheaper fuel, very low landing fees and cheap aircraft financing”, explains an analyst at Deutsche Bank. “The fact is that Emirates pays market rate for fuel, and that only around 20 percent of its fleet is financed through export credit agencies such as the US Export-Import Bank… The main cost advantage of Emirates comes from higher employee productivity.”

Whether this new round of accusations stick or not, Clark and his airline will continually refute that cheap labour and ground handling constitute a government subsidy, but instead exemplify the UAE’s pragmatic business approach. Emirates’ president has also spoken openly about how subsidies are an “unpalatable reality”, playing an essential role in stabilising industries and the companies within them during economic crises.

“At Emirates we see much to be encouraged about: more and more countries recognise that liberal air access has a multiplier effect on their economies and best serves their national interest”, says Clark. “Yet there are still cases where some flag carriers or their alliance proxies successfully block new competition, by creating an echo chamber of repeated false assertions about rivals.

“We recognise that our success has made us a target and some airlines have been willing to make gross misrepresentations about Emirates and Dubai in order to serve their interests. We have nothing to hide and welcome all discussion on our activities”, he adds.

Imperfect competition
There is also an argument to be made that US carriers’ accusations are hypocritical – they too were the recipients of substantial government subsidies in the aftermath of the 9/11 attacks, where the industry received financial aid in the form of airline industry bailouts. The simple fact is, as explained in an article written by Matthew Iglesias and published on the online news platform Vox, that the dispute in question does not fall under World Trade Organisation jurisdiction, meaning that the US Government merely has to make a decision about whether it wants to maintain the Open Skies agreement, or cancel it. The real decision for Washington officials, therefore, is whether or not they wish to provide protection to their country’s domestic carriers, by blocking outsiders who have the ability to provide consumers with a better deal.

It is important to note that the US airline industry has in recent years seen its domestic market shift from having many competing companies vying for consumers’ attention, to having just four major competitors – Delta, United, Southwest and American. Between them they control the lion’s share of the market, at just over 80 percent. This has created an oligopoly in the US airline industry – something that is bad news for American and international travellers alike. “Airline mergers and consolidations are taking a systemic toll that is bad for consumers”, Brent Bowen, Dean of the College of Aviation at Embry-Riddle Aeronautical University, said in the 25th Airline Quality Rating. “Performance by the airlines is slipping while they claimed this would make them better.” In a later statement, Bowen added: “With the high profits being realised by airlines, it is evident they are not investing in customer service and restoring employee concessions given up during the economic decline.”

Passing on the profits
An example of how this consolidation of market share by the big four is bad for passengers can be found in the recent fall in global oil prices – logic dictates that, as fuel is one of the largest expenses for airline companies, if the price of the commodity falls, so too should the price of a flight. But that has not been the case: instead of passing the savings derived from cheaper fuel prices on to consumers, US airlines have passed the savings onto themselves. According to the Charlotte Observer, American Airlines is set to rake in record profits as a result of falling fuel prices, but has no plan to lower fares.

American Airlines told the local newspaper that the company paid an average of $2.52 a gallon for fuel in Q4 of 2014 – down from $3.06 in the same quarter last year – and that it estimates its average fuel cost to reach as low as $1.73 a gallon, which could see its expenses cut by nearly $5bn. The airline’s CEO, Doug Parker, then went on to tell the publication that because its fares are based on demand, falling fuel costs will not translate to lower airfares.

In an ideal market, where there are many companies competing with one another, prices fluctuate. But in an oligopoly like the US airline industry, where the service offering is nearly identical, prices tend to stay much the same. There is also a tendency for those that comprise the oligopoly to reduce competition by simply charging similar prices in order to maintain their equally distributed share of the market.

The most recent round of allegations, therefore, say much more about the accusers than the accused. It signifies an industry that has grown accustomed to its near monopolistic landscape and does not wish to have that shaken up by outside forces. Gulf airlines may well be receiving government subsidies that are helping them to expand into more markets, but further protectionism by repealing the Open Skies treaty is only going to entrench the big four’s power. In the short-term, this lack of competition is bad for consumers. If left to foster, however, it could lead to a US airline industry unwilling to take risks – something that could seriously harm its long-term success.

Unified Korea: could it work?

Posted on by Charlotte Gill

Almost since the day Korea was separated into two states back in 1948, there have been discussions and policies put forward for how to reunify the peninsula. However, members of the Korean People’s Army in the North and those of the Republic of Korea’s armed forces in the South have stood guard on either side of a 4km-wide strip of land that stretches for 250km, known as the Korean Demilitarised Zone (DMZ), ever since. The DMZ’s name is steeped in irony, as on both sides of the great divide are a scattering of guard towers, missiles, tanks and troops, all solely waiting for a war to ignite.

The weapons of war and the incredible sense of tension that exists on both sides of the divide are juxtaposed by the tranquillity of the area in between: the DMZ is an area where, under the strangest of circumstances, nature has been granted a reprieve from man’s persistent meddling. Several decades of limited human activity has allowed wildlife to claim this patch of land for itself, thereby transforming it into one of Asia’s greatest nature reserves. All this makes the DMZ a place of immense contrast, which helps attract travellers from all over the world.

Sightseers come to gaze at one of the last living relics of the Cold War; a conflict that, for most people, came to an abrupt end with the fall of the Berlin Wall in 1989. Escorted by guides, tourists venture through a peculiar piece of history, where at the end they find themselves at the obligatory gift shop – something which no doubt adds to the surrealism of the whole experience. For foreigners, venturing to the DMZ is a just another thing to tick off of a bucket list. But for Koreans, it stands as a constant reminder of a nation divided over a war that has long since expired.

North vs South

Population

24.9m

North

49m

South

GDP per capita (PPP)

$1,800

North

$35,400

South

Infant mortality rate per 1,000

24.5

North

3.93

South

Life expectancy

69.81

North

79.8

South

Geographical area of North and South Korea

120,538sq km

North

99,720sq km

South

Mobile phones north and south of the border

1.7m

North

53.6m

South

World Press Freedom ranking (2015)

179th

North

60th

South

Sources: The World Factbook, World Press Freedom Index

Hopes for reconciliation
Because the two countries have been separated from one another for so long, it is hard for most to imagine the dream of reunification becoming a reality. Even so, it has remained a key policy objective of the South Korean Government for many years. In a report released by the Ministry of Foreign Affairs’ Korea National Diplomatic Academy, it stated that both countries could be unified as soon as 2050. The report outlines a possible “blueprint for unification”, which involves establishing a joint economic system between the two nations, designed to help raise the national income of North Koreans from around $1,800 to $10,000 per capita. It also notes that, should unification occur, a united Korea would become the seventh-largest economy in the world.

A united Korea would possess a population of over 80 million people, which would help the country benefit from economies of scale, while an end to hostilities would allow for a dramatic reduction in military spending, permitting tax money to be redirected elsewhere. From this viewpoint, reunification seems like such a simple process – but there are always minutiae to consider when talking about the Korean peninsula.

This is precisely why the report has been met with so much scepticism, particularly from the Daily NK; an online newspaper widely regarded as the most accurate source of inside information on North Korea. The publication, while praising the overall plan, was critical of the fact that nowhere in the report did it specifically outline how it would achieve its goal. “The report… claimed that a joint economic community, if achievable, would naturally lead to political unification. While these two outcomes are connected to political conditions in North Korea, regime variables were not taken into account, making the claim sound inane”, explained Oh Gyeong Seob of Sejong Institute in a column for the Daily NK. “With the present Kim Jong-Un regime, many consider both the creation of an economic community and political unification to be impossible. Unification discussions should always involve discussion of the North Korean regime.”

Put simply, the idea that strengthening economic integration between the two Koreas without factoring social and cultural issues into the equation is an extremely short-sighted policy for unification.

History lessons
Park Seong Jo, a professor at the Free University of Berlin, has shown that major cultural and social variances can greatly impede the process of reunification. Using East and West Germany as a case in point, he explained how, when the two German states signed a treaty agreeing to a monetary, economic and social union in 1990, one thing that officials overlooked was the hostility that citizens on both sides would show each other after the Berlin Wall finally came down. One of the consequences of living in isolation from one another for such a prolonged period of time – combined with the fact that East and West were subjected to politically polarised regimes – was that, while the two countries may have signed an agreement of reconciliation, citizens were less capable of acting upon it. It became apparent very early on that the differences between the two states ran deeper than many had imagined, with both sides seeing themselves as completely different people, rather than as one reunified ethnic group.

East Germans were initially very critical of their cousins in the West, labelling them as greedy, rich capitalists. At the same time, West Germans viewed those from the East as poor, work-shy socialists. Similar societal struggles, Park Seong Jo notes, will likely be faced by a unified Korea. However, such cultural challenges are likely to be even more pronounced, as North and South Korea have engaged in open conflict and have endured a much longer period of separation than East and West Germany did.

Broken bonds
It is said that time is a healer. In the Korean peninsula, however, time is responsible for eroding the emotional and cultural ties that the two nations once shared. The Koreans who can remember a time when the country was still unified are now members of the older generation. Once lost to old age, the memories that they harbour will fade with them, leaving it up to an increasingly disillusioned youth to take up the baton of reunification – a responsibility which they may not be willing to take on.

“I think that there is a lack of impetus within Korean society to be reunited”, says Alexey Maslov, Ph.D. professor and Head of the School of Asian Studies at the National Research University – Higher School of Economics in Moscow. “Today, the younger generations in the North and South are not really ready to be reunited because they no longer share the same cultural ties.”

According to research published by Seoul National University, 11 years ago 92 percent of South Koreans saw unification as “necessary”, but by 2007 only 64 percent persisted with that sentiment. In a more recent survey, it found that 22 percent of South Koreans in their 20s were in favour of “maintain[ing] the status quo, higher than any other age cohort, and nearly triple the rate of those in their 40s”. More worrying, however, is that only 14 percent of those 20-somethings surveyed stated that they saw North Korea as “one of us” – exemplifying the lack of connection that younger Koreans feel towards their neighbours in the North.

Cost of reunification
Another reason many South Koreans are reluctant to see unification go ahead is the huge economic strain that it will inevitably put on the country. According to a report by South Korea’s Finance Ministry, “unification will contribute to the expansion of the economy’s potential growth through increased labour, investments, production and economic cooperation”. But before the country can begin to reap the benefits of a unified Korea, the report explained how it would first have to incur the expense of unification – a process that could cost the country close to seven percent of annual GDP for up to a decade.

Because of the heavy economic cost of unification and the massive disparity between both cultures, many experts question whether the two Koreas are capable of solving the issue of unification on their own. “North Korea needs a political and economic supporter”, Maslov tells Business Destinations. “China is keen to be a mediator of the reunification process, but at the same time, North Korea is really afraid of the Chinese Government being involved.

“North Korea does not want to be regarded as just some kind of appendage of Chinese policy, which is why the role of Russia in this situation is intriguing – because while Russia does not support North Korea’s nuclear programme, it does support its independence and right to independent decision.”

Border guards in the Korean Demilitarised Zone (DMZ)
Border guards in the Korean Demilitarised Zone (DMZ)

Reunification reality
Because of the economic, social and political differences between the two Koreas, unification would take dozens of years to accomplish. And, if it does eventually transpire, it is likely that it will be precipitated by one of the following scenarios – some good, some bad: the first scenario for unification is a very slow-moving one, where North Korea calls for more open reforms and more openness in general, resembling something similar to the Chinese model of economic reform. This would allow the country’s economy to grow stronger, with the added benefit of providing a more fertile ground for reunification, as it would limit the burden on South Korea’s own economy. Many commentators see this as the most realistic and feasible means of unifying the two nations.

“But, there is another way”, explains Maslov. “I am speaking about a possible coup d’etat.” Maslov contends that, because the North’s new leader, Kim Jong-Un, lacks the charisma and leadership qualities of his father, it could lead to a sudden seizure of power by rivals from within the country. The fear of such a coup might have provided the motive for the 31-year-old’s decision to execute his uncle, who was a government official with strong ties to China. Should rival groups see the young leader as weak and so begin a fight for control, thus splintering the country into several rival factions, it could provide a second platform for reunification – albeit a much less stable one. If a battle for power were to ensue, it would allow the South to step in as the saviour of North Korea. But for this scenario to play out, it would require the complete destabilisation of a country in possession of nuclear weapons, thereby making such a scenario undesirable. Therefore, for reunification to ever feasibly take place, it would require a mediator – but it is unclear at this stage whether that could come in the form of China or Russia.

“I don’t think that South Korea really wants reunification right now, because destabilisation in the North could lead to destabilisation in the South”, concludes Maslov. “I think that for North Korea, from my point of view, what it wants right now is to reinforce its power. The young Kim will want to raise his country’s position through negotiations with Russia and China and both sides should provide support for the future economic reforms, as it is impossible to make the necessary reforms without their backing.”

Noble ambition
The path of reunification is one littered with what appear to be insurmountable obstacles. Even if the economic, social and cultural hurdles can be traversed effectively, the transition to a unified Korea is one that could take many years to accomplish, and will possess its own unique set of complications.

However, unification is a policy that, despite these hurdles, will not, and should not, be forgotten or discarded. If achieved, it would bring peace to the peninsula and an end to an ongoing headache for many other countries. A unified Korea would also bring economic prosperity and provide the international community with a powerful trading partner. But, most importantly of all, unification would free the North Korean people from the grip of an oppressive and brutal regime – and that alone makes it a policy worth pursuing.

Rotterdam works towards circular economy

Posted on by Charlotte Gill

In 2013, Stockholm-based H&M became the first name in fashion to launch a global garment collection initiative, wherein the retailer called on shoppers to deposit their unloved or unwearable items in-store. By repurposing said garments, the company could more easily “close the loop on textiles” and minimise – if not eliminate – waste product from its supply chain. “We’ll invest any money we make from this service into social projects, as well as research and innovation projects on how old textiles can be turned into new fibres. Which means in the future we’ll be able to get rid of clothes waste altogether”, the company said at the time.

However, the initiative, while impressive, marks only a small part of a much wider – albeit thinly spread – global movement to consume and produce in a more circular fashion. Take, make and use: these are the steps that best characterise society’s one-way relationship with consumption at present. These steps have left untold measures of waste in their wake, yet an awareness of the repercussions, for both the planet and for local communities, has forced policymakers to take action. As a result, the transition toward the circular economy is slowly gathering momentum.

With a shortage of examples of circular economies in action, implicated parties will find it difficult to believe the transition is possible, or indeed profitable

“While there is still room for the linear model to expand geographically and realise even higher efficiencies, there are signs that the coming decades 
will require productivity gains and quality improvements at a new order of magnitude”, according to an Ellen MacArthur Foundation report, Towards the Circular Economy. “It is evident that an economy that extracts resources at increasing rates without consideration for the environment in which it operates, without consideration for our natural planetary boundaries, cannot continue indefinitely”, added Unilever’s Chief Executive Paul Polman.

Leading the charge
In Rotterdam, however, the concept of a circular economy is catching on fast. The prospect of a place where nothing is lost and everything is reused carries with it a certain appeal for this port city’s inhabitants. Arguably the most important and, by some stretch, the largest logistical hub in Europe, Rotterdam stands as a shining example of how cities can play a key part in paving the road to sustainable prosperity – responsible for 30 percent of Europe’s import/export transits and home to any number of multinational corporations, a strategic vision to apply this circular model to Rotterdam before 2030 could have far-reaching consequences for the European and global economy. Calculations carried out by both the Ellen MacArthur Foundation and MicKinsey show that if the continent were to “wholeheartedly adopt the principles of a circular economy”, the European manufacturing industry could enjoy a pick-me-up of €500bn – and that’s excluding the benefits that this would bring for its inhabitants.

“We are currently working with the municipality and the Port of Rotterdam to make better use of the huge circular opportunities for Rotterdam”, Arjanna van der Plas, Communications Manager for industry cooperative Circle Economy, told Business Destinations. “Taken as a whole, this area represents the combination of heavy industry with high economic and material throughout, social and cultural centres, and rich ecosystems. What we aim for is to create a stronger link between the activities in the Port of Rotterdam and the city, specifically small-scale entrepreneurial activities that create more localised streams of added value, and to realise symbiotic opportunities for smart resource management and cascading between the port, Westland, and the city.”

A plan to turn Rotterdam into the most sustainable port city in the world before the end of 2015 has prompted the city’s Port Authority to jump into action, and so make substantial progress on the issue of circularity. True, fundamental change does not come without sacrifice, though the transition means that cities and businesses can engage with the environment and the community in a far more meaningful way – and by heightening productivity, while at the same time eliminating needless waste processes, the city can more easily realise new and sustainable opportunities.

Van der Plas claims that the reasons why the idea of the circular economy has received so much attention in recent years are twofold: first, people are beginning to realise that “it is possible to make money with the circular economy approach – it is not something that you just do extra for the greater good, like double-sided printing to save money. It can be the core of your business model and can be very profitable”. Second, “companies start seeing the effects of not going circular. For example, large technology companies see how vulnerable they really are to volatile resource prices and the geopolitics that come with the smaller and smaller amount of available resources – they start to see that our planet is indeed finite, and that they have to act in order to be future proof”.

The solar cell roof at Rotterdam Central Station
The solar cell roof at Rotterdam Central Station

Circularity Centre
In the summer of 2014, the Port of Rotterdam Authority, Rabobank Rotterdam, Bikker & Company and Van Gansewinkel joined forces in a bid to establish a so-called Circularity Centre. “The scale and diversity of economic activities in the region and the [international] connections of the ports mean the region is well placed with a vast array of opportunities”, according to a report commissioned by the Port of Rotterdam Authority and Rabobank on the subject. It continued: “Operating the port as a circular economy would create value-adding activities based on reusing waste and increasing eco-effectiveness and thus helping to achieve environmental goals. Furthermore, a circular economy would help the port community identify new business opportunities, creating new clusters of industrial activity or refining and strengthening existing clusters.”

However, the project is not free from challenges, and there are inevitable hurdles associated with the newness of any given idea. New laws and regulations must be enacted so as to eliminate those that currently inhibit the transition, and it must be considered that affected parties, such as waste treatment facilities, have a vested interest in keeping to the current system. Add to that a shortage of examples of the principle in action, and implicated parties will find it difficult to believe the transition is possible, or indeed profitable.

“No-one can build a circular economy alone”, says van der Plas. “It requires a mind shift away from our current linear ‘take make waste’ thinking, toward a system where we act in balance with the planet: the ecosystem that we are all part of. That requires changes in politics, business, education etc. It’s not something that happens overnight unfortunately.” Nonetheless, if the city were to embrace the initiative, it could mark the birth of revolutionary business concept, bringing with it a host of new opportunities for those in and around the region.

Eat, sleep, train, repeat at five of the world’s best super gyms

Posted on by Charlotte Gill

Irrespective of an economic climate in which time is precious and consumers are notoriously short of cash, gym membership is one luxury that people are clearly unwilling to go without. Recent figures show that attendance has climbed consistently now for years, and even the twin threat of an obesity epidemic and a financial crisis have done little to hamper growth.

Whereas for many, gym attendance is part and parcel of a weekly routine, there are some for whom the trip is far more than a casual affair. For these individuals, the occasional visit amounts instead to something quite spectacular.

Add to that a growing inclination among the wealthy toward the odd gym visit when away on business, and the rise of the super gym comes as little surprise. Far from the familiar airless spaces packed with weights and without a window in sight, these are complexes that contain the very latest technological equipment and cater exclusively for those with a fair few dollars to spare.

Because of their superior services and cutting-edge facilities, super gyms are proving increasingly popular among corporate clients, who find them a welcome retreat when away from the office.

At Business Destinations we have rounded up our favourite five super gyms, looking at what each has to offer for business travellers.

E at Equinox, New York

Focusing less on a range of facilities and more on personal – and personalised – services, E at Equinox has made a name for itself as perhaps the most exclusive gym on the international circuit. Accessible only by invitation, members must pass a retina scan if they are to indulge in any one of the gym’s hyper-personalised health and fitness programmes.

A membership will set you back $26,000, although this fee also bags you two weekly sessions with a Tier 4 personal trainer and an exercise prescription that takes near enough every aspect of personal fitness into account. What sets E apart from the competition is a focus on movement, nutrition and regeneration, and on improving quality of life over fitness.

For those looking for privacy when working out, E at Equinox will be an ideal fit. It is unmatched in the industry in this respect, as well as in many others. Any business traveller would be hard-pressed not to find an excuse to pay the facility a visit when in the Big Apple.

Houstonian Club, Houston

With an initiation fee of $24,000 and an additional $300 per month membership fee, access to the Houstonian Club’s facilities does not come cheap. With more than 300 state-of-the-art cardio and strength training machines on offer, members need never wait for their turn on the treadmill again. While the sheer scope of fitness facilities on offer is more than enough to qualify the club for super gym status, what’s even more impressive is the level of luxury afforded to each member.

Spread over an area of more than 125,000sq ft, the Houstonian Club opened in January 1980 and has since made a habit of setting the benchmark in how high-end health and fitness clubs should run. Built on a three-pronged commitment to innovation, values and service, the operators have long focused on keeping a relatively small number of members so that they can more easily concentrate on each of their individual preferences.

“In today’s times, a thirtieth anniversary is worthy of celebration. But rather than resting on past success, the Houstonian Club’s operators plan to continue raising the bar in the areas of innovation, values and service”, according to the club site. Any business travellers in the nearby area, therefore, would be wise to sample the club’s facilities and trial what remains to this day the region’s most impressive industry leader.

EXOS, Arizona

“EXOS provides training, nutrition, and physical therapy programmes seamlessly integrated under one roof by teams of specialists”, according to the gym site. Formerly known as Athletes’ Performance, EXOS was founded in 1999 by Mark Verstegen – Director of Performance for the NFL Players Association and athletic coach for the German national football team – as a place for elite athletes to receive integrated performance training and physical therapy. Fast-forward to today, however, and high school hopefuls and business executives alike attend the facility, with a view to sampling the model that has served so many well in the past.

Beginning life in Tempe, EXOS moved to a new state-of-the-art facility in Phoenix in 2009. Spread over 31,000sq ft and split into areas dedicated to training and recovery, EXOS integrates performance services under one regime – training programmes are designed to get the best out of any athlete or client, irrespective of their fitness or technical proficiency. Add to that a range of creative workplace solutions, and EXOS is arguably the ultimate destination for business leaders looking to either reach peak physical condition or simply improve their overall sense of wellbeing.

The Third Space, London

Following in the footsteps of EXOS, Third Space opened its doors in 2001 and brought a ‘new form of healthy hedonism’ to the heart of Soho. The club’s website proclaims that “it was the first club to acknowledge that true health is an integrated affair – bringing together the best experts and facilities to cater for all requirements in exercise, health, medicine, nutrition, and fun”.

With a decade and a half of experience under its belt and a second gym to its name in nearby Marylebone, Third Space’s offerings are leaps ahead of its closest rivals. A number of unique features underline the centre’s superiority – renowned as much for being an iconic space as it is an impressive fitness facility, Third Space is spread over four floors and boasts an impressive roster of unique programmes. With a martial arts dojo, sky-lit climbing wall and hypoxic altitude chamber among its many facilities, the gym is arguably best known for its table tennis tables, which are perched on a glass floor above a swimming pool.

Third Space has also expressed a desire to become London’s greenest club. By engaging with innovative new ways of re-using water, monitoring energy usage and recycling where possible, the gym has substantially cut down on its environmental footprint in recent years.

SkyWellness, Serbia

First built in 1973, the Danube Flower building was originally home to an upper-end restaurant. In the years since, it has undergone numerous transformations: the landmark structure is today better known as the SkyWellness gym, after Belgrade studio 4of7 and London-based Superfusionlab embarked on the task of rehabilitating the building and creating a fitness centre following a 15 year period in which the facility was left to decay.

Based in Belgrade and perched on a picturesque bank beside the river, the views from the super gym are unlike anything else in the region. The studio’s credentials as a fitness centre and high-end spa are due largely to an unflinching desire to create the very best space for health and wellbeing in the region. Enclosed in a triangular complex and suspended on the hillside, SkyWellness amounts to one of Belgrade’s most recognisable landmarks as well as a world leader in the super gym space. While a full membership is not for those working out on a budget, the chance to sample the establishment’s world-class facilities and soak in a quite unique atmosphere are enough to tempt even the more casual gym-goers.

How did last week’s shock Conservative victory affect sterling?

Posted on by Charlotte Gill

At OverseasGuidesCompany.com, we kept a close eye on the election build up – knowing that with the outcome (apparently) impossible to predict, there could be a significant impact on the currency markets, especially given the strength of sterling in recent months.

This strength, caused by political and economic events in Europe, had been hugely beneficial for our readers buying property in the Eurozone – for example, when GBP/EUR hit an eight year high peak of rate 1.135 in mid-March, a €300,000 property would have cost £212,239; at the beginning of the year, when the GBP/EUR rate was 1.2803, that same property would have cost £234,320. That’s a saving of over £22,000!

In the weeks leading up to last week’s voting, a number of different possible outcomes were bandied about by pollsters and experts – with each seemingly as likely as the other, but with some form of hung parliament an almost foregone conclusion.

Taking inspiration from the election in 2010, which resulted in the first hung parliament since 1974, sterling began to slump as investors reflected on the five percent negative movement seen on May 7 2010 – one day after the election.

Of course, as the results began to pour in from 10pm on Election Day, it became clear that the pollsters were wrong and a Conservative majority was indeed a possibility – and probable.

We called on the experts at SmartCurrencyExchange.com to tell us about the effects on currency markets – and, ultimately, your money. Chief Executive Officer, Charles Purdy, said:

“As the exit polls were released on Thursday night, the UK currency rose by over two percent against the euro, and almost two percent against the US dollar. This brought sterling to a strengthening of 3.5 percent against the euro in 24 hours.

“Of course, it is important not to rest on our laurels; whilst this result is the one the market wanted, there are two areas that we must keep an eye on – the enormous strengthening of the Scottish National Party (SNP), and the possibility of an EU Referendum. There was already a dip in sterling on Friday morning as the markets considered the possibility of another Scotland Referendum and the pressure that David Cameron may be under to call an EU Referendum sooner rather than later – both of which would dramatically affect confidence from investors.”

Words by Overseas Guides Company, publishers of buying guides in over 15 countries, 0207 898 0549.

Jules Gray has a breakfast breakdown

Posted on by Charlotte Gill

One of the few perks of being sent on tedious work trips to soulless business hotels on the outskirts of increasingly more desolate cities is the prospect of an all-you-can-eat breakfast. Between the hours of seven and nine every morning, guests trundle downstairs to ensure that they fill themselves up with as much ‘free’ food as is humanly possible. For business hotels that cater for a never-ending stream of international travellers, uniformity is key – knowing that you can have the same dreary eggs and watered-down coffee each morning, whatever country you happen to be in, is apparently something that was inscribed on the hotel industry’s Ten Commandments (presumably just after the universally unreasonable checkout time of 10am).

However, while this reassuring constancy means that a hotel breakfast is often the best part of any stay, it can also be fraught with disaster. Though most people celebrate the idea of an all-you-can-eat buffet breakfast, the pushing and shoving that inevitably accompanies the privilege can lead to a particularly angry start to any day.

Hotel breakfasts should always be the thing that management takes greatest care over

Hunger games
Being stuck behind a ludicrously slow and fussy eater – one who picks their way through the undercooked sausages before claiming the properly browned ones that you already had your eye on – can lead to far higher levels of blood pressure than any processed meats could possibly muster. Then there are the times when you find nobody queueing and the tray lids down. Your joy is short-lived when, upon lifting them, you find yourself presented with soggy toast, damp bacon and a block of scrambled egg that resembles a foam travel pillow.

But what’s worse is if you make it down to the restaurant too late, or you are in a particularly bland hotel, and you’re faced with all the good stuff having gone completely. Instead, you find yourself presented with the true evil of early morning eating – the continental breakfast. Popularised in British budget hotels as a means of not serving guests a proper cooked meal first thing in the morning, the continental breakfast usually consists of a stale pastry, some fruit, a passed-its-sell-by-date yoghurt and some tepid brown water masquerading as coffee.

Some places seem to get it especially wrong. One newly opened Delhi hotel I visited was so eager to impress its international clientele that it provided the obligatory mounds of bacon – but unfortunately neglected the fact that it needed to be cooked. A Latvian hotel apparently thought that stale bread and what appeared to be some sort of ice cold, creamy potato mush constituted a decent start to the day. It didn’t.

Pride of the US
However, while many hotels seem to make the minimum effort possible in their early-morning offerings, there are a few places where guests can be treated to an astonishing array of edible delights to fuel them through the day. The US has possibly captured the crown of best breakfast on Earth (and certainly of my clogged-up heart). From my limited experience, its hotel industry has been keen to show off the national tradition of eating far too much first thing in the morning: not only do they offer the usual buffet fare, but they’ve added their own gluttonous mix to the equation, with towers of syrup-dripping pancakes and troughs filled with fried delights. I’m sure health-conscious guests could probably get their fresh fruit and yoghurts and whatever, but frankly I didn’t notice what else was on offer over the towers of hash browns that I was rushing back to my table.

Hotel breakfasts should always be the thing that management takes greatest care over. Usually the last thing that guests have before checking out, that perfectly crisped bacon could turn an adequate stay into a memorable one – or, at the very least, prevent someone who’s had an awful experience from following through on their threats of logging into TripAdvisor and leaving an eviscerating review.

Malaysia gears up for tourism influx

Posted on by Charlotte Gill

In March this year, Malaysia-based carrier Flymojo signed a $1.5bn order for 20 new CS100 Bombardier aircrafts. In doing so, it made its ambitions clear: to capitalise on a much-changed climate wherein – despite a trio of recent air disasters – tourism is still thriving.

Prior even to the first air disaster last March, the national tourism ministry attached the ‘Visit Malaysia Year’ tag to the country, in the hope that turmoil in Thailand might turn tourists onto Malaysia as an attractive alternative and relative safe haven. With hundreds of festivals scheduled and a proboscis monkey mascot to cap things off, the strategy was abruptly knocked off-course when a plane containing 239 people went missing over the Indian Ocean. The scheme was then obliterated entirely by two additional air disasters. Add into the mix a number of kidnappings in Malaysia’s Sabah state in Borneo, and – in the space of only nine months – Malaysia had muddied its reputation as an idyllic and safe holiday destination. Calling the situation a “crisis”, Mirza Mohammad Taiyab, Director General of Tourism Malaysia, acknowledged that the situation had taken a heavy toll on the country’s tourism complexion, and prepped for stormy seas ahead.

Some are going so far as to assert that the recent air disasters might have handed Malaysia the exposure it so desperately needs

However, Taiyab also told Business Destinations that “the overall impact of last year’s air disasters to the tourism industry was minimal, with only China as a market showing an obvious decline”. And, as demonstrated by Flymojo’s March-time spending spree, the ‘crisis’ has far from crippled the industry’s potential, with some sources going so far as to assert that the air disasters might have handed Malaysia the exposure it so desperately needs. “The coverage from the aviation incidents had certainly put the spotlight on Malaysia and we did anticipate a negative perception for travel and flying in general. However, we also received great support and empathy from our industry partners whose confidence and compassion carried us through”, Taiyab said.

A changed stance
Aiming first to focus on Chinese holidaymakers and thereby reach the 28 million inbound tourist mark, Malaysia reconfigured its tourism strategy soon after the tragedies in order to compensate for a waning Chinese appetite. Following a stellar 2013, in which Chinese arrivals for the year came close to two million, or seven percent of the total, the MH370 disappearance saw arrival numbers in April slip 20 percent on the month previous. Add to that a tendency among Chinese tourists to favour North Asian markets ahead of those in Southeast Asia, and it soon became apparent that Malaysia’s tourism board was targeting the wrong crowd.

Therefore, rather than look to China for impetus, Malaysia turned to neighbouring Southeast Asian nations, where the majority of its arrivals have long originated and continue to do so to this day. However, the international attention tied to the airline disasters also brought with it guests from Western nations – with the country’s failings spattered across the front pages and travellers growing increasingly conscious about their safety, Malaysia’s airlines slashed prices and the government doubled down on lifting the country’s entry barriers. As a result, where many predicted that the tragedies would handicap tourism, it appears that the attention has injected fresh stimulus into an already-thriving industry.

“The bad publicity has made Malaysia more well known to the world”, Jaya Kumar Sannadurai, Vice President at Dayangti Transport and Tours, said in an interview with Mashable. And while the cumulative effect of the tragedies is (relatively speaking) small, the resulting coverage “is an advantage to us in some ways”. Despite the coverage having spooked a fair few, the focus on Malaysia, whether positive or not, has alerted others to the country’s rich tourism potential.

Looking at the figures, arrivals clocked in at around 27.4 million last year, up 6.7 percent on the year previous – and though the number of Chinese tourists has fallen significantly (9.9 percent overall), the news for the tourism market as a whole is overwhelmingly positive. Fresh from a string of disasters that could well have crippled any other market, the healthy figures are testament to the country’s ability to switch up its strategy and accommodate for a changed marketplace.

India rising
Where the country has really succeeded, however, is in choosing to knock on India’s door in place of China’s. As such, praise for the uptick should lie in the laps of those responsible for the swift strategy change. Looking at last year’s performance once again, the number of Indian tourists was 21 percent greater than in 2013, and where Chinese tourists have chosen largely to avoid Malaysia, those from India are arriving in their droves. “We are naturally focusing on India as the demand potential for travel from that market is very strong”, said Taiyab. “The World Travel and Tourism Council (WTTC) reports that India will be the third fastest generator of travel and tourism traffic from 2010 to 2019 with an annualised growth of 8.2 percent. For India, we are positioning Malaysia as a great family destination for leisure, business and weddings and honeymoons.”

To bolster the numbers flocking in from India, Malaysia also plans to waive the visa fee for Indian tourists. As the country strives to reach its target of 29.4 million arrivals in 2015 – something helped in part by Malaysia’s Year of Festivals, which is not too dissimilar to last year’s planned Visit Malaysia Year – choosing to waive Indian visa fees means that Malaysia’s fifth largest source of tourism joins countries such as China, South Korea and Japan, who already enjoy the privilege. And with a planned increase in weekly flights already in the pipeline and a multi-million dollar promotional campaign prepped to go, Malaysia is on course to squeeze every last drop out of a country that is ripe for expansion.

The Batu Caves in Gombak, Malaysia
The Batu Caves in Gombak, Malaysia

Keeping hopes high
True, the trio of air tragedies quashed any hopes of a real landmark year for tourism – but optimism is running high for the coming year, as Malaysia banks on an Indian expansion and the return of Chinese tourists for a pick-me-up. With authorities choosing to waive visa fees less than a year on from when the Beijing-bound MH370 first disappeared, the tourists who were dissuaded by the crises of last year will perhaps begin to reconsider – or so the country hopes.

Using the Year of Festivals programme as a platform, those in the tourism industry are looking to build on the perception of Malaysia as more than merely a scenic place to visit, and bring visitors to more carefully consider its multicultural heritage. “Malaysia is an exotic land of diversity and culture”, says the country’s Prime Minister, Najib Razak, on the Year of Festivals website. “It is here that Asia truly comes alive. We have in place a strategic thrust to grow local and international tourism franchises that open up prospects for tourists and tourism partners alike. Above all, we are building a tourism infrastructure that celebrates the Malaysian warmth and hospitality, treating every visitor as guests in our own home with open arms and the best of care.”

Clearly the country’s ambitions for the coming year and beyond, in terms of tourism, are grand. Nonetheless, the turnaround in 2014 has instilled a great deal of confidence that Malaysia can regain lost custom and cement a stable reputation as one of the strongest tourism destinations of the moment.

‘I gave myself 100 days to do it’: Peter Bray on crossing the Atlantic

Posted on by Charlotte Gill

Cornish kayaking legend and former soldier Peter Bray has made it his life’s mission to prove that nothing is beyond the realm of possibility. After capsizing in the freezing Atlantic in 2000 and surviving for 37 hours alone at sea, he returned to the waters in 2001 to conquer the treacherous journey, becoming the third person known to kayak the Atlantic – and the first to do so using only paddles.

That 3,000-mile expedition, documented in his book Kayak Across the Atlantic, was the start of a succession of courageous adventures that have taken Bray everywhere from circumnavigating the arctic waters of Newfoundland to facing the seas of South Georgia. More recently, he set out on a 15,000-mile motorcycle expedition across Europe with fellow biker Harry Glover, covering 25 EU capital cities in just 21 days.

Business Destinations spoke to Bray about what motivates him in his gruelling adventures, how he’s remained focused in the face of life-threatening situations, and how his unstoppable determination has helped him to prove the naysayers wrong, time and time again.

If somebody says something can’t be done, I like to know why it can’t be done, and then prove it can be

What inspired you to attempt the Atlantic crossing in 2000?
[I was paddling up in Scotland] across one of the estuaries, when we nearly got run over by a tanker. I jokingly said: ‘It’s got to be easier than this in the Atlantic’. When we finished I looked at the Atlantic, and I saw that the south of it had been paddled twice… but nobody had ever touched the north because it’s a bit horrendous. I got a boat made, looked at the distance, and gave myself 100 days to do it in. I set off in July 2000.

You had an accident in your first attempt – what happened?
I got 40 miles in, and the kayak became a submarine. I got into the life raft, but Mother Nature decided that was too easy. She sent a wave, tossed me onto the kayak and ripped a hole in the bottom of the raft. Then she tipped it over, so I lost everything apart from the day/night flare and my pump. And so for 37 hours I sat there pumping up the life raft.

It was three degrees above zero, I had icebergs going past me, and my feet and nether regions were completely submerged the whole time while I sat in this sinking raft. My knees were up out of the water the whole time – so after that it took me six months to learn to walk again.

But I knew I would survive. I kept focusing on what went wrong, how I could rectify it, what designs I could use for the next one. And I just kept thinking about coming back a year later. So I set off exactly one year on, and 76 days later I arrived in southern Ireland.

Why were you so determined to attempt the expedition again?
If somebody says something can’t be done, I like to know why it can’t be done, and then prove that it can be. I’d had so much negative support because I’d had the accident the year before, and that was the focus – “I’m going to prove everyone wrong and succeed.” And that’s what I did.

Paddling in icy waters off of Georgia
Paddling in icy waters off of Georgia

What qualities do you think are important for achieving goals such as these?
At the start of an expedition you’ve always got to think, “What if?” Don’t think nothing can go wrong, because something will always go wrong. I rode the motorbike and thought, “What if I get a blowout?” and I got a blowout. We paddled around South Georgia and I thought, “What do we do if we go ashore and the animals attack us?” – and they did. So you’ve always got to think about everything in advance.

What were the biggest challenges you faced during the trip?
I was paddling through thick fog for most of it and after three days my GPS blew up. Luckily I’d brought an old-fashioned compass, so from then on I used that to navigate. When you’re paddling through fog you have images that you’re going round and round in circles, and you have to keep looking at that compass thinking “this is right, this is right”, all the time.

The only time I thought it would end was literally half way, when the hinge on the hatch I had – which they’d guaranteed would outlive the kayak – broke. So that meant the boat would fill up with water and sink. I called someone who gave me some measurements so I could make my own.

What was it like returning to land after being alone at sea for so long?
I landed in a little community in Ireland and I saw two men, so I blew my whistle and they came over. You have to imagine a guy with long hair, a beard, filthy… I asked them where I was and told them I’d just paddled from Newfoundland. I don’t think they believed me at first. I took one step and fell flat on my face.

After that, for about six months I wouldn’t even put the radio on. I’d got so used to that peace and quiet. I was able to walk properly again within a couple of days, which was quite quick considering I hadn’t used my legs for over two months.

Some of the wildlife that Bray encountered in South Georgia
Some of the wildlife that Bray encountered in South Georgia

What made you decide to embark on a motorcycle expedition across Europe last year?
I’d only just passed my motorbike test in November of 2013, and a guy in the office said, “Let’s motorbike around Europe.” I thought it sounded like a jolly good idea, so that’s what we did. We visited 29 countries, and we would have done it in 20 days but we missed a ferry by five minutes. I learnt on the ropes. Where we parked the bikes is where we slept.

What was the most challenging part of the journey?
The longest day was 27 hours. We rode from Berlin to Stockholm, battling with tough weather conditions, and at around 3am we started hallucinating. But the most stressful day was in Greece: we were 12 miles from the Romanian border and all the way along I’d been thinking, “How I would I react if I got a blowout?” And then I got a blowout.

We were in the middle of nowhere… We got the bike to a local town, only to find that at 4pm the town and the whole of Greece had shut for a five-day holiday. Eventually [someone helped us find] a little gentleman off a backstreet, who fixed the bike in two hours, and then we set off again.

What’s been your proudest achievement to date?
I was asked to row the Atlantic with three others, despite never having rowed before. We were about three days away from setting the record and arriving into the Isles of Scilly, when we were hit by Hurricane Alex. It snapped the boat in half. The guys put me in for a bravery award for saving their lives, and that has to be my most treasured moment.

What are your future goals?
One of my goals is to kayak the Bering Straits. I just need that one – I then become the only person to have ever joined the northern hemisphere mainland by kayak. I’ve been waiting for years to do it, and last year I got the closest – I had everything sorted, but then I was told to put it on hold due to the situation in Ukraine.

I still want to row the Atlantic after having been stopped twice due to bad weather conditions. I always say the only thing you cannot plan for is Mother Nature. If Mother Nature wants me to do it she’ll let me, if she doesn’t, she won’t, and up to now she hasn’t. I’m waiting to see if she’ll let me.

The weather conditions that Bray faces are often less than ideal
The weather conditions that Bray faces are often less than ideal

Top tips for setting up finances abroad

Posted on by Charlotte Gill

Organising your finances will be one of the first things you need to do once you arrive in a new country. If you have purchased a property, you should already have a bank account set up there – so you can prove that the money used to purchase the home has come into the country legally.

Generally banks in most countries will operate in the same way as they do in the UK. Still, it’s a good idea to understand them beforehand to ensure you have all the facilities you need to manage your money.

Here are OverseasGuidesCompany.com’s top tips for organising your finances in your new country:

Research your nearest bank

Spend some time researching the banks in your local area, and think about exactly what you need from your bank. Make a shortlist based on the facilities each one offers compared to your requirements. It’s also important to note that you may have to pay to use any ATMs not affiliated with your chosen bank – so make sure you chose one that has an ATM nearby.

Choose a bank with English-speaking staff

When it comes to your money, it’s vital to understand everything to do with the way it’s stored and the facilities that you can take advantage of. We recommend finding a bank with at least one member of staff who can explain everything to you in English.

Look into fees and other costs

In the UK, most standard bank services are free. Overseas, this is not always the case. When you set up a bank account, check whether a monthly fee is payable and, if so, what you will receive for this fee. You should also establish if you need to pay extra for any other services, such as an overdraft or to withdraw money from an ATM.

Open an account before you go

If you start the process of opening an account before you make the move to your new country, all you will need to do once you arrive is provide proof of identity and address before it is fully functional. This is especially helpful for managing your finances as soon as you arrive in the country, particularly if you are starting a new job or paying bills and utilities.

Think about how to transfer funds from the UK to your overseas account

Never just use your bank’s rate to transfer funds from one country to another. Instead, speak to a currency exchange specialist like SmartCurrencyExchange.com, as soon as you know you want to either buy property or make the move overseas. Their experienced traders will be able to guide you through the currency transfer process, recommending the best time to make transfers and offering you better rates than your local bank.

Top tips for overseas property-viewing trips

Posted on by Charlotte Gill

As soon as you know you want to move abroad, one of the first things that you will want to do is get over to your chosen new country and look at properties. This is an exciting and important aspect of the home purchase journey, but it’s wise to tread with caution here – after all, you don’t want to rush over there and fall in love with a property you cannot realistically afford.

Estate agents and developers often organise their own trips, quite often at no or reduced cost – although if you do decide to take advantage of one of these, it’s important to remember that it’s not just a free break in the sun!

Here are OverseasGuidesCompany.com’s top tips for making the most of viewing trips:

Research

Before you even book to go on a viewing trip, spend some time researching the area you want to live in and the property market in your chosen corner. You will also need to consider what you can afford – including additional costs you will need to pay for the property (such as legal fees, commission etc.) Work out exactly what you need from your new home – such as the kinds of amenities you want to be there. If you are organising your trip yourself, get in touch with estate agents before you go, and have a few viewings booked in. If you are taking part in an organised trip, make sure you are able to communicate to your agent or developer exactly what your needs are and what you can afford.

Take at least three days, but preferably a week

It’s imperative to make sure that you don’t spend your time on your trip rushing around, and are able to savour the properties you see and consider what you have seen.

Enjoy some leisure time (even on an organised trip!)

The property developers and estate agents are not just running their viewing trips for your benefit – they want to make a sale. They are likely to show you the best parts of the neighbourhoods you are interested in, but are unlikely to show anything that will not entice you to buy their properties. It’s important to try and find the opportunity to explore the area on your own terms – especially because viewing properties can also be very tiring!

Don’t succumb to sales pressure – but do take advice!

If you are taking advantage of a trip organised by a company who wish to sell you a property, be prepared to be accosted by the ‘hard sell’. If you are not good at resisting this kind of pressure, perhaps you will be better suited for making your own way. The estate agent or developer will usually want you to sign on the dotted line there and then, often with sales techniques to entice you – give yourself time to assess your options. Saying this, do make sure you take the advice of the estate agents, and ask them lots of questions. They should be able to tell you about the local area, the different amenities and anything else you need.

Take advantage of market conditions

In certain areas of Europe, it’s definitely a buyer’s market right now. The continued strength of sterling against the euro means British buyers get more for their money – and the property markets are only just beginning to recover from the housing market crash in some areas. Don’t, therefore, be afraid to put in a low, cheeky offer!

Words by Overseas Guides Company.com, publishers of buying guides in over 15 countries, 0207 898 0549.

Spring 2015: a good time to buy property overseas

Posted on by Charlotte Gill

March saw the coming of spring and the latest A Place in the Sun Live! exhibition in Manchester – the UK’s largest overseas property show and home to dozens of industry professionals from around the world.

The euro spells good news for overseas property buyers
Appetite for snapping up property overseas appears even greater this year – with over 6,000 potential buyers visiting the many exhibitors. Around half of these came on the Saturday alone – a record-breaking number for the show. The atmosphere across the weekend was buoyant, with many visitors reporting that the strong GBP/EUR rate was a key decision maker for them to bring forward their purchase of an overseas property. It’s no surprise when, that week, the rate had hit 1.40 for the first time since late 2007, meaning a €300,000 property would cost a British buyer £214,285. This was saving of almost £19,000 compared to the £232,991 that the same property would have cost at the beginning of 2015, when the GBP/EUR rate was 1.2876.

Appetite for snapping up property overseas appears even greater
this year

With these promising numbers, we can expect even more visitors to attend the next event, taking place at Olympia, London, from May 8 – 10 2015.

Challenging times for currency markets – but good news for British citizens
March was also a very busy month for the currency markets. With this in mind, we have been speaking to our partners at currency specialists, SmartCurrencyExchange.com, about the recent Budget and the effects that some of the announcements are likely to have on overseas property buyers, and sterling in particular. Chancellor George Osborne announced that the country was “walking tall again” and growing “faster than any other major advanced economy in the world” – highlighting the positive effects that the coalition government has had on Britain over the last five years, in preparation for the upcoming election. This boosted economic environment has led to a strong sterling, meaning that anyone sending money overseas from the UK has benefitted from these generous exchange rates (since the end of 2014, in particular).

There were also a number of proposals announced in this year’s Budget that will have a significant effect on the personal finance of the average UK citizen. The personal tax allowance will rise to £11,000 by the 2017/18 tax year, and the higher tax rate will be pegged above inflation for the first time – rising to £43,300 by 2017.

A new Personal Savings Allowance was also introduced, meaning that the first £1,000 of interest received is now tax free.

To receive free information on buying property overseas, contact the OverseasGuidesCompany.com Resource Centre on +44 (0)20 7898 0549

To find out more about how the latest economic changes affect currency exchange rates, contact the team at SmartCurrencyExchange.com on +44 (0)20 3582 7768