��Ƶ International Business Blog

��Ƶ signing off for the summer

Thu, 24 Apr 2025 11:28:51 -0400

And just like that, another school year at Michigan State is in the books—which means it’s time for the ��Ƶ blog to sign off for the summer!

From breaking down global market trends to diving into international business buzz. Now, as campus quiets down and the summer adventures begin, our team is heading off in all different directions—internships, travel, full-time gigs, and maybe even a little rest.

Before we sign off for the summer, we’d like to recognize our graduating seniors who’ve made contributions to the blog:

Andrea Galvan, Team Lead – B.A. in Human Resource Management. Read Andrea's blogs here.
Kaleb Davis, Team Lead– B.A. in Supply Chain Management. Read Kaleb's blogs here.
Dipika Rao, Student Researcher – B.A. in Supply Chain Management, minor in Sustainability. Read Dipika's blogs here
Seth Kunio, Student Researcher – B.A. in Finance, minor in Financial Planning and Wealth Management. Read Seth's blogs here

We also want to thank our graduating guest writers for their outstanding work:
Mara Sclabassi – B.A. in Supply Chain Management. Read Mara's blog here
Shankho Bhattacharjee – M.S. in Marketing Research and Analytics. Read Shankho's blogs here.

To all of our graduates, thank you for your dedication, and the energy you brought to ��Ƶ. You’ve left a lasting mark, and we wish you the best in your next step in life! To our readers: thank you for being part of the journey. We’ll take a summer break, but we look forward to seeing you again in the fall!
— The ��Ƶ Team

India’s footwear boom: Growth, exports, and global potential

Wed, 23 Apr 2025 12:51:05 -0400

In recent years, India has been experiencing rapid growth in the footwear market. As of 2024, the industry was valued at almost $18 billion and is expected to continue growing and reach over $45 billion market value by 2032. A significant reason for this growth is due to the rising middle class in India. As the disposable income of consumers grows, shoes become less of a commodity and more of a form of personality and self-expression. Footwear consumption per capita has increased from 1.7 to 2.3 from 2016 to 2021.

Not only is the footwear industry booming domestically, but India has also been shifting towards exporting to other countries. This is greatly due to lifts in Indian legislation restricting trade. Joint ventures and foreign direct investment were legalized in the past couple of decades. As a result, India has become the largest shoe producer in the world, second to China. As a result, the Indian footwear manufacturing industry provides over one million jobs.

One of the most popular domestic shoe brands in India is Bata. Bata offers both a casual and professional selection and is known for its quality and affordability. They currently operate over 1,200 stores in India. Liberty shoes also hold a significant foothold in the market. They offer a wide range of shoe types and pride themselves on high quality and comfortability through utilizing the latest technology and reliable materials. Liberty was established a couple of decades after Bata, and it now operates around 400 stores.

One of India's newest and most popular production hubs is in central Tamil Nadu. Historically, India has been known for producing leather footwear, but in recent decades, it has branched into non-leather shoes as well, manufacturing for brands like Crocs, Nike, Adidas, and Puma. This diversification into non-leather footwear, combined with Tamil Nadu’s governmental initiatives, such as the Climate Governing Council and Green Energy Mission, shows a shift in the Indian industry towards more sustainable practices. Along with this, something unique to the Tami Madu production hub is that 90% of job opportunities are for women as a part of a commitment to gender equality.

Another significant footwear production hub in India is in Agra. Agra is known for its rich history. Agra has produced shoes for centuries and has the largest footwear market in Asia. The footwear industry is essential to Agra’s economy. There are over 5,000 footwear stores, and over 60% of the population relies on the industry for employment.

One of the factors enabling China to have a competitive advantage over India in the industry is that India has to import certain raw materials as a part of the production process, while China is already endowed with those natural resources. On the other hand, another factor that could benefit India is that, in recent years, Western countries have been looking to expand their production sites abroad to countries outside China due to rising labor costs. As India's industry is already significantly developed, collaboration between Western countries is extremely advantageous. This would benefit both parties, as currently 95% of production services domestic needs.

As global demand shifts and international partnerships expand, India's rapidly evolving footwear industry is well-positioned to become a dominant force in global manufacturing. With continued investment in sustainability and innovation, India stands not only to meet domestic needs but also to play a pivotal role in shaping the future of global footwear production.

Why are Shein and Temu raising their prices?

Tue, 22 Apr 2025 10:28:20 -0400

Both consumers and industry analysts have taken notice of the recent announcements made by Chinese fast-fashion giants Shein and Temu, saying they will be raising their prices due to new U.S. tariffs. Beginning on April 25, 2025, these retailers will adjust their product pricing due to the U.S. government’s decision to remove the “de minimis” exemption, which formerly allowed duty-free importation of products under $800.

The primary focus of this tariff reform, which takes effect on May 2, 2025, is low-value cargoes from Hong Kong and China. It will immediately affect the core business strategy that has allowed Shein and Temu to succeed quickly.

These businesses have prospered by swiftly and directly supplying American consumers with low prices because of favorable tariffs. Shein and Temu will have to raise prices to cover increased import costs because of the de minimis exemption being removed, which will impose substantial tariffs on these formerly duty-free goods. The immediate response from customers has been beneficial as Shein and Temu saw significant increases in sales as word of the impending price increase spread. Temu saw an even more remarkable 60% increase in revenues during the first eleven days of April than last year, while Shein reported a 38% increase in revenue.

Consumers’ desire to stock up on cheaper goods before the higher tariffs go into effect is demonstrated by this buying frenzy, which reflects worries about how these changes will affect their purchasing habits in the long run. The potential impact of these tariffs in the long term is shown by recent consumer behavior. Shein and Temu’s attraction as low-cost shopping destinations may weaken as prices unavoidably rise, driving customers to look for other platforms.

Industry analysts are careful about how this tariff change might affect consumer behavior, especially regarding more cost-effective and environmentally friendly options like secondhand markets. Sites like eBay, ThredUp, and Poshmark greatly benefit from this change. These marketplaces draw customers who were previously drawn to low-cost fast-fashion retailers because they provide sustainable appeal and reasonable prices. Changes in international trade policy directly impact the expected move to secondhand marketplaces, which represents a significant shift towards sustainability-driven spending.

The tariff changes also highlight how interconnected international trade policies are and how they affect the economy as a whole. U.S. policymakers introduced tariff adjustments to protect domestic markets from low-cost foreign goods and close the trade deficit with China. This action also shows consumers how their spending, e-commerce business models, and general market dynamics are impacted. Similar e-commerce companies that depend on low-value imports from China might encounter comparable difficulties, which could lead to a more extensive industry restructuring.

On top of that, as these tariff-induced price changes spread throughout the market, the competitive environment for online retail is expected to change quickly. Retailers in the United States and other foreign markets may perceive a chance to gain market share, which could change international e-commerce tactics. Temu and Shein’s higher expenses draw attention to weaknesses in the global direct-to-consumer supply chain, which may force these businesses to reevaluate their pricing, sourcing, and logistics plans to stay competitive.

The change in tariffs demonstrates how decisions regarding international trade impact consumers and businesses. The sales in the short term boost the company and are brought on by panic buying. This contrasts with the longer-term difficulties these businesses are currently dealing with when panic buying ends. We are seeing how retailers need to find a careful balance between maintaining sustainable practices, offering competitive prices, and managing complex global trade dynamics.

The rise of gold in the face of the declining dollar

Mon, 21 Apr 2025 10:42:59 -0400

With the value of the dollar falling roughly 10% this year, gold has had a rapid rise to new highs. As international investors have started to wane in the confidence in the safety of American power, the fall in the value of the dollar has shown that. As investors have moved into gold, prices have hit $3,357. A roughly 30% increase on the year.

In times of economic uncertainty precious metal has historically been viewed as a popular alternative. It's been seen as a hedge against inflation because of its limited supply, protecting against currency devaluation or inflation. And unlike many other financial assets, gold is a physical asset allowing it to have more liquidity in times of economic uncertainty. As Central Banks hold roughly 20% of all gold in the world, their management policies have a very large impact on the price of gold. Golf is usually traded in dollars even on the international market, so it often reflects an inverse relationship to the price of a US dollar. Recent comments by Jerome Powell that tariff policies will likely slow growth, has pushed more people into the popular alternative. According to SPI Asset Management gold is now “the most crowded trade on the planet”. As investors moved into gold to help hedge against inflation and fears of a recession it crossed $3,000 an ounce for the first time in March and has now hit $3,357. As the dollar has depreciated this year, gold has become less expensive for foreign buyers, another factor increasing demand and therefore its price.

According to the US Dollar Index, the value of a dollar has fallen to a 3 year low. With a year to date decline of 8% and a 10% from year highs. A large portion of the loss came after President Trump announced his “Liberation Day” tariffs. This shows the economic impact that trade uncertainty has on the dollar, which indirectly impacts currencies around the world.

The value of the dollar has a significant impact on the strength of US and international trade. According to the US Bureau of Labor, currency depreciation causes higher import prices. When currency depreciates you can buy less goods with 1 dollar, which is why it costs more to import goods. So the 10% decline in the dollar has resulted in a 10% increase in importing goods. This further compounds fears on the strength of the American economy, pushing people into alternative currencies like gold. However, a weaker currency makes it less expensive for other countries to buy American goods, potentially decreasing the trade deficit the United States faces with several countries. But the increase in exports may be offset by higher costs, so it is unknown how this will impact the trade deficit.

With the uncertainty of tariffs and consumer confidence in the United States it is yet to see how the dollar will recover. For the dollar to recover, international investors need to have more confidence in the direction of the American economy, which can come directly from the resolution of the tariff situation and the easing of global trade tensions. The price of gold will be directly related to what the Central Banks do, once confidence in the economy recovers and fiscal policy loosens gold prices might see a decline to previous levels.

Trade uncertainty grows amid U.S. tariffs, 90-day pause

Thu, 17 Apr 2025 11:20:43 -0400

On April 2, United States President Donald Trump unveiled a 10% universal import duty on all goods entering the U.S., as well as sweeping new tariffs on a wide array of imported goods from 60 nations, branding the action “Liberation Day.”

Trump used 1977 International Emergency Economic Powers Act to declare a national economic emergency and implement the tariffs without U.S. Congress approval. Tariff rates will jump from 2.5 to 22%, reaching levels that have not been seen since Acts during the Great Depression, according to experts.

Intended to boost domestic manufacturing and reduce trade deficits, the tariffs span sectors from consumer electronics to raw materials, with rates ranging from 10% to over 100%. They include a 34% tariff on China, 20% tariff on the European Union, 24% on Japan, and 26% on India, among others. However, amid sharp market reactions, diplomatic backlash, and concerns from U.S. industries, the administration issued a 90-day pause on most of the tariffs—with notable exceptions for those imposed on Chinese imports. This temporary delay has given governments and businesses alike a short window to assess and respond to the looming disruption of global trade dynamics.

The initial announcement triggered swift and widespread reactions from trading partners around the world. China, the primary focus of the most severe tariffs, responded with increased duties of up to 125% on U.S. goods such as soybeans, aircraft parts, and semiconductors. According to the World Trade Organization, U.S.-China merchandise trade could fall by as much as 80% in 2025 if the full range of tariffs goes into effect, with potential global trade contraction estimated at 1.5% in more severe scenarios. European leaders also voiced concern. Germany, one of the largest exporters to the U.S. within the European Union, emphasized the potential for trade disruptions in sectors like automotive and machinery, while EU officials acknowledged that retaliatory options were under discussion as part of a broader review of transatlantic trade policy.

Mexico, a close trading partner under the United States-Mexico-Canada Agreement (USMCA), responded by stating it may consider targeted countermeasures if negotiations fail to produce a resolution. Mexican officials signaled that tariffs between 5% and 20% on U.S. agricultural and industrial products were being reviewed, while also emphasizing a preference for resolving disputes through diplomatic and institutional channels. Although the Mexican government has not yet applied any retaliatory tariffs, it has expressed concern over the potential implications for regional supply chains and cross-border investment, especially if automotive components and manufacturing inputs are affected in future rounds.

For businesses with global supply chains, the uncertainty surrounding the tariffs and the 90-day pause has prompted contingency planning. Apple Inc., which relies heavily on Chinese manufacturing, faces potential cost increases if tariffs on electronics components are reinstated. The company has begun examining the feasibility of shifting more assembly operations to alternative countries in Asia, a move that reflects broader trends in supply chain diversification. Similarly, Boeing, a major U.S. aerospace exporter, is assessing the risk of reduced demand from markets like China and the European Union, where retaliatory measures could complicate future sales. While it remains unclear how much of Boeing’s order book would be affected, trade tensions have added another variable to an already complex global aviation market.

Whether the current pause results in a renegotiated approach or a full resumption of tariffs, global businesses are bracing for a more uncertain, more divided trade environment—and adapting accordingly.

AI in the fast food industry

Wed, 16 Apr 2025 10:31:55 -0400

Fast food is no longer just about cheap meals and convenience; it is becoming one of the fastest adopters of AI in the restaurant industry. From smarter drive-thrus to automated inventory management and predictive maintenance, significant chains like Taco Bell, KFC, McDonald’s, and Chick-fil-A are investing heavily in AI to deliver faster service, improve accuracy, and boost efficiency behind the scenes.
Recently leading this transformation is Yum! Brands are the parent company of Taco Bell, KFC, and Pizza Hut. In March 2025, Yum! announced a groundbreaking partnership with NVIDIA, one of the leading AI hardware and software development companies. Their goal? To roll out cutting-edge AI tools across Yum’s 61,000+ restaurants around the globe, making everything from ordering to kitchen operations more innovative and streamlined.
One of the standout applications of this partnership is in drive-thru automation. Taco Bell and Pizza Hut locations are already piloting AI-powered voice ordering systems built on NVIDIA’s advanced natural language processing (NLP) tools. These systems are designed to interpret customer speech, even with heavy accents, background noise, or branded menu terms like “Limonada.”
Not only does this speed up the ordering process, but it also reduces human error and increases customer satisfaction. And it doesn’t stop at voice recognition. NVIDIA’s computer vision tools are being used to monitor traffic in the drive-thru lane in real time. The AI system can detect how many cars are waiting and adjust menu suggestions based on the quickest preparation items, which helps reduce wait times during busy hours.
After successful pilot runs, Yum! Brands plan to roll out these AI systems to 500 restaurants across its brands by the second quarter of 2025. This is a significant leap toward creating more data-driven kitchens and offering customers a more personalized and efficient experience. What is the long-term plan? To give franchisees access to an AI-driven digital platform that supports everything from staff scheduling and supply chain logistics to marketing recommendations, essentially giving them a playbook for running a more innovative, more profitable restaurant.
While Yum! Brands are making waves with their AI investment; they’re not alone. McDonald’s serves nearly 70 million people daily and has also jumped into the AI game. One of the chain’s most talked-about innovations is its system to predict equipment breakdown, especially those notorious ice cream machines. By analyzing patterns and internal machine data, McDonald’s can spot problems before they happen and proactively dispatch maintenance.
But it’s not just about machines. McDonald’s has also started using AI to reduce stress for its employees. According to the company, new scheduling tools powered by AI are helping managers build more balanced shifts and avoid last-minute chaos in the kitchen. Meanwhile, Chick-fil-A uses AI in a completely different part of its operations: logistics. The company has invested in robotics and machine learning to help manage its supply chain, which serves over 3,000 restaurants across the U.S. By using AI to predict demand and coordinate deliveries more efficiently, Chick-fil-A can avoid shortages, cut down on waste, and maintain the high standards it’s known for.
They’ve also explored AI-powered kitchen assistants and automated prep lines to reduce repetitive tasks for staff and ensure consistent food quality. While some critics worry that AI could reduce the need for human workers, most companies emphasize that these technologies are meant to support and not replace their staff. By automating routine tasks, restaurants can free employees to focus on higher-value roles like customer service or quality control. There’s also a sustainability angle. AI helps reduce food waste by predicting how much stock is needed based on historical data and real-time sales trends. This saves money and helps reduce fast food’s environmental footprint, which has long been criticized for impacting waste and energy use.
AI is reshaping the fast food industry from top to bottom. What was once a slow-moving sector is now becoming one of the most innovative in technology adoption. With industry giants like Taco Bell, McDonald’s, and Chick-fil-A leading the way, don’t be surprised if your next drive-thru experience feels a little brighter and much faster.
Whether a robot prepping your chicken sandwich or an AI assistant recommending a frozen drink on a hot day, the fast food experience is evolving.

The global invasion of bubble tea

Tue, 15 Apr 2025 10:09:07 -0400

Bubble tea has dominated internationally over the past few years. Originating from Taiwan in the early 1980s, a drink that primarily consists of tapioca and has various teas to choose from depending on the stores, it has solidified its place in the market with its huge following.

It is a growing market with a rate of 8.69%, estimated to be at $6.12 billion by 2032. We’re seeing not only bubble tea stores but places such as Starbucks and other notable coffee shops selling tapioca as an option to put inside their drinks. Let’s go further into the business opportunities they have created and why they are renowned for their status today.

As people are becoming more aware of the ingredients they are consuming, bubble teas have the component of having a wide variety of products to choose from. From its option to change the sugar level to selecting the type of fruit or milk that will be inside the drink, the freedom it gives to the consumers makes bubble tea an innovative drink. This also means that people can make drinks ranging from healthy tea products to sweet and tasty desserts. Following this, Mixue Ice Cream and Tea is a recent example of how popular bubble teas genuinely are. Based in China, the company continues to expand with its staggering over 45,000 available stores across 12 countries, surpassing McDonald’s and Starbucks outlets. Furthermore, it made $444 million in its initial public offering, with each outlet being run by franchisees. Another example is Gong Cha. Maintaining consistency in making its teas by hand and using overall high-quality materials, the brand continues to expand rapidly worldwide. The latest news estimated over $600 million in global sales at the end of 2024.

As we see international success for bubble teas, places outside Asia, such as the U.K., have their reasons for growing popularity—the country’s cultural choice towards teas blends with the trend of what many Gen Z consume. From the entrepreneur’s perspective, it is also a low-cost opportunity to begin their business compared to opening a coffee shop. Going back to the success of Gong Cha and its goal to expand its stores further, recently, they announced plans to open 225 new stores across the U.K. this year, leading to a potential opportunity for over 2,000 new jobs. The undeniable popularity of bubble teas is helping many businesses get to where they are today, hoping to maintain their relevance in the future with their target audience being Gen Z.

However, despite its popularity, matters have risen in the U.S. as the tariffs will increase the cost of creating bobas because their ingredients are primarily sourced from Asian countries. Specifically, the U.S. Boba Company, the leading supplier for different stores in the U.S., hopes to figure out alternative methods to keep its cost to a minimum.

The demand for bubble teas is expected to remain high. Extending from the variety of choices that anyone can make when ordering them, the social media influence, and the cultural grounds it has all over the world, the innovation towards the product can have endless amounts of possibilities. It managed to bring that value from the business aspect to the consumers’ satisfaction. We’ll have to see what it’s further capable of doing soon.

International hit shocks the film industry

Mon, 14 Apr 2025 10:25:43 -0400

Hollywood has been the global capital of filmmaking for over a century. Even in international industries, American movies reign supreme. Since 1912, the highest-grossing movie of each year has been an American film. This dominant track record has led to the steady decline of international film industries as countries lost their confidence in competing in box office sales. This pattern is likely going to come to an end as a Chinese animated movie is looking to blow all other movies out of the water. Ne Zha 2 has taken China by storm and could lead a more progressive movement in international cinema industries.

American films have a large grasp of the international industry. While other markets, such as Bollywood in India and Nollywood in Nigeria, are also large, they do not have Hollywood’s global power. It was projected that the US film industry made around 92 billion dollars in revenue, which has steadily increased over the past 20 years. Hollywood studios have a large grasp on the industry, and many films are also filmed on US soil. In 2022, a study showed that the US held 7 of the 10 most popular cities to film movies. London, Paris, and Toronto were the only non-USA cities to crack the top 10. Overall, the United States film industry is very deep-rooted and strong. Led by the big five studios, finding other international industries competing globally with the United States markets is very hard.

Ne Zha 2 has been a critical success unlike any seen in the international film industry. The movie has grossed over $2 billion, making it the 5th highest-grossing movie ever. These revenue numbers put it only behind the Avatar movies, The Titanic, and Avengers: Endgame. These sales are also without a full international release, as European and Asian releases are still planned throughout the spring. Its quick rise to prominence caused it to become China’s highest-grossing film in the first 2 months of its release. It also became the highest-grossing animated film of all time, surpassing Pixar’s Inside Out 2. With most of its sales only coming from the Chinese market, there is still room for the film to gain an even more significant following. The success of this film could also lead to stronger courage in China and the development of its dominant film industry. In response to recent tariffs implemented by the USA, China responded with multiple actions and proposals, one of which conceited the film industry directly. The specific proposal proposed a reduction in the import of US movies. This could open a large amount of market space in China, the world’s second-largest film market, for the sales of domestic films.

While China has had the most successful international film of all time, they are not the only global industry that could start encroaching on Hollywood’s historic dominance. Bollywood and Nollywood make 2.1 billion and 590 million dollars annually, respectively. While these markets generate mass production, they still lack the infrastructure to produce globally and earn high profits on most films. Ne Zha 2 is an excellent reminder of how anyone can enter the entertainment industry with the right product. Over the next few years, it will be interesting to see how China will follow this all-time success.

Taking 4G into space!

Thu, 10 Apr 2025 10:29:00 -0400

We can communicate on the moon—although not yet, this is becoming a real possibility in the near future. Companies like NASA, a US government agency and Nokia, a Finnish multinational corporation, have been successfully working towards taking 4G and implementing it into space.

This opens up a new world of possibilities regarding international space travel, communication, and the potential for hosting life on planets outside of Earth. This may sound like a pipedream currently, but it opens up a whole new world of opportunity for humans and the different ways communication occurs.

To clarify, 4G stands for “Fourth Generation” and is the direct successor to 3G and the foundation for expanding the 5G network. It’s the technology that powers everyday smartphone use. For example, browsing, streaming, social media, and more are all functions made possible by this network. Before its rollout, 4G was projected to contribute $441.8 billion to GDP by 2019. Instead, it reached a staggering $690.5 billion, exceeding expectations by nearly $250 billion. This highlights the massive economic impact of mobile network innovation and how it will continue to expand as our reliance on technology increases.

As 4G technology expands beyond our planet, the economic implications stretch far beyond improved cell service. Currently, the 4G network unit is being built by Nokia’s Bell Labs, which will then be loaded onto a lander created by US company Intuitive Machines. The plan, once deployed, is to connect the lander with two additional roaming vehicles on their separate space mission.

As 4G technology expands beyond our planet, the economic implications stretch far beyond improved cell service. Nokia’s Bell Labs is currently building the 4G network unit using off-the-shelf commercial components, a cost-effective approach that demonstrates how space tech is becoming more accessible. This unit will be loaded onto a lunar lander developed by US company Intuitive Machines, with the goal of enabling reliable communication on the moon. Once deployed, the system will connect the lander to two additional robotic rovers, each on their own separate space missions.

This groundbreaking setup is more than just a tech milestone. It represents the early stages of a space-based communication infrastructure that could someday significantly support lunar exploration, resource extraction, and even human settlement. As global investment in space innovation grows, projects like this could generate billions in economic activity while pushing the boundaries of what mobile networks can achieve.

From a financial perspective, this shift has the potential to unlock entirely new markets. As communication infrastructure develops beyond Earth, it creates demand for new supply chains, manufacturing, launch services, maintenance, and data services. All of which translates into high-value investment opportunities for companies or nations across the globe. By 2035, the global space economy is estimated to be worth $1.8 trillion, and innovations like space-based 4G networks will play a significant role in helping to achieve this reality. Countries and companies leading the charge in space-based tech could gain a major edge, not just in space exploration, but also in defense, telecom, and the future of global communication.

In short, 4G in space is not just about staying connected. It is about driving global economic growth and reshaping the future of business beyond Earth. As space exploration and technology continue to evolve, the economic potential of space-based communication will grow, creating new industries and opportunities. The advancements we make today will lay the groundwork for the next frontier of innovation, in space and on Earth!

Quantum computing's impact on international business: What to expect

Wed, 09 Apr 2025 11:43:07 -0400

When you give a typical computer a maze, it will go down Path A, then Path B, then Path C, and eventually, it will find the best available outcome. However, this is not the most efficient way to solve a maze; a quantum computer can go through every single outcome simultaneously and find the most efficient pathway more easily. The larger the maze becomes, the more time, value, and power a quantum computer can generate for its users. A quantum computer could solve a complex problem that might take a supercomputer one hundred years to solve in seconds.

While it’s still in its early development stages, quantum computing has plenty more use cases than just mazes. JPMorgan and Goldman Sachs have used quantum computing to set financial models, detect fraud, and explore all possibilities behind investment decisions in the financial industry. McKinsey says, “Quantum machine learning can allow decision makers to consider a broader set of variables and assets when simulating risks, reducing the cost of risk and facilitating larger deals with even higher margins.” They estimate that by 2035, quantum computing cases in the finance industry could create over USD 622 billion in value, spread over all dominant financial business units. Businesses like Honeywell use quantum computing to create a real-time processing analysis of demand data, traffic, and weather to make the most optimal route patterns. Google and IBM use quantum computing in healthcare to aid treatments for Alzheimer’s and cancer. Boston Consulting Group even says that this technology can enable more efficient chemical catalysts, which could result in a massive reduction in carbon emissions.

As the excitement around quantum computing builds, a global race to determine which nation becomes the face of quantum computing also begins. The United States maintains a decisive advantage over the rest of the world primarily due to its pre-existing infrastructure and continuous investment from major firms like Google, Microsoft, and IBM. The US has also upheld the National Quantum Initiative Act since 2018, which has accelerated quantum research and promises consistent investment from the government into this sector. It plays home to some of the academic research programs in the world that are looking specifically into the issue of making quantum computing more accessible to every business.

China is not far behind and has made significant progress in quantum communication, cryptography, and satellite technologies in recent years. They have strong private sector companies like Alibaba and Baidu, which receive heavy investment from private equity firms and the Chinese government. China funds a project called Micius, which is supposed to use quantum technology to create an ultra-encrypted communication platform that allows people to communicate freely and be informed of any eavesdropper listening in. China is outspending the US four to one in federal quantum technology investment and is steadily closing the technology gap. As China grows its national quantum network, the government claims to crave “quantum supremacy” as the space grows.

Quantum computing has the power to revolutionize the world entirely at unprecedented speeds. Use cases in industries such as finance, healthcare, and logistics scratch the surface of what this technology is capable of. As the industry grows, so does the battle between the US and China to see who can conquer the quantum market and address the critical questions that face the industry today.

Tourism in turmoil: Climate-driven disasters create harmful ripple effects

Tue, 08 Apr 2025 11:43:50 -0400

Natural disasters have been increasing greatly in frequency and severity over the past couple of decades. The annual number of global natural disasters peaked in 2019 at 449. The cadence per year has averaged around 400 in the past few years.

The most prominent types of natural disasters are Floods and storms. In 2023. there were 164 floods and and 139 storms. Earthquakes, landslides, and wildfires are moderately frequent, averaging around 16-32 yearly. Droughts and extreme temperature natural disasters occur around 10 times a year, and volcanic activity is the least frequent, with four occurring in 2023.

The United States is affected the most by this increase by a landslide, followed by China, India, Brazil, Indonesia, the Philippines, and Pakistan. Since 2005, the world has suffered $300-400 billion annually as a direct result. There was a surge in losses amounting to over $720 billion in 2011, followed by another surge to $620 billion in 2017. This is greatly due to the direct impacts of many developed countries in late-stage capitalism and societal tendencies of mass production and consumerism.

Most recently, on April 1st, a volcano erupted in Grindavík on Iceland's Reykjanes Peninsula. Close to 4,000 residents of the town and over 1,000 guests at The Blue Lagoon Spa were forced to evacuate. The Blue Lagoon Spa is a geothermal spa offering both wellness treatments and spectacular views. It is one of Iceland’s most popular tourist attractions, drawing in over 700,000 visitors annually. The Spa is essential to Iceland’s economy. 35% of Iceland tourists visit the spa, and tourism accounts for 42% of Iceland’s economy, a significant increase compared to the last decade. In the past few years, Iceland has been experiencing a vast amount of volcanic activity. While the volcanos on the Reykjanes Peninsula were dormant for over 800 years, there have been 11 eruptions since 2021. The last eruption before this was only a few months ago, in November of 2024, and some residents are still displaced today. If eruptions continue to occur at this rate, it could be detrimental to Iceland’s economy. The Blue Lagoon Spa has already had to spend significant capital implementing protectionary cautions against the eruptions.

Iceland is not alone in the battle against natural disasters; Greece’s Aegean islands have also been experiencing extreme flash floods due to severe storms over the past week. It was the heaviest rainfall the islands have experienced in over 20 years. Infrastructure was severely damaged and will negatively impact everything from hotels, restaurants, tours, shops, and transportation. Paros and Mykonos, two of Greece’s hottest tourist destinations, were hit the hardest. This poses significant risks for Greece’s economy as one of the most popular travel seasons is approaching in only a few weeks. In 2024, Tourism contributed almost $50 billion to Greece’s GDP. Additionally, this will disrupt Greece’s agriculture industry, as it is a major producer of olive oil and wine, and the flooding damaged many crops. Allianz Greece and Ethniki Insurance, two of Greece’s most popular insurance companies, are projected to experience large financial losses due to the floods damaging a considerable amount of infrastructure.

Prior to the floods, Greece was also experiencing challenges trying to recover from the thousands of earthquakes that had been occurring in Athens over the past couple of months, many of them so severe that a state of emergency was declared in Santorini, and schools were closed for weeks. Along with this, at the end of March, Mandalay, Burma’s second-largest city, experienced a 7.7 magnitude earthquake. It caused a great deal of damage to cultural and religious sites. Shwe Sar Yan Pagoda, a large Buddhist complex almost 1,000 years old, crumbled as a result of the earthquake. This is not only detrimental from a tourism perspective but also will result in a significant loss of community.

In summary, the rise in natural disasters underscores the urgent need for businesses and governments to develop better strategies for coping with their economic impact. The recent events in Iceland and Greece, along with the devastating earthquake in Myanmar, emphasize the vulnerability of critical sectors such as tourism and agriculture to unpredictable environmental events. As climate change exacerbates these challenges, resilience and proactive planning will be key to minimizing damage and ensuring recovery.

UK companies invest $650 billion to reshore production

Mon, 07 Apr 2025 11:08:49 -0400

Businesses in the United Kingdom are choosing to carry out more of their operations domestically. They hope to guarantee that their products continuously meet high standards of quality while lowering the risks associated with unpredictable global markets by strengthening domestic supply chains and reducing overseas manufacturing.

According to 1,400 global companies with yearly sales of $1 billion+, UK companies have already spent over $440 billion on nearshoring and reshoring since 2022. They intend to spend an extra $650 billion over the following three years to move manufacturing and supply chains closer to home. The benefits of domestic production have become more attractive due to several factors, including supply chain interruptions, geopolitical risks, and the desire to be closer to customers.

The luxury car manufacturer Jaguar Land Rover has revealed plans to increase domestic production by investing in cutting-edge manufacturing technologies at its facilities in the UK. Businesses can meet growing demand due to this investment, especially in US markets. Rolls-Royce is also relocating some of its domestic aerospace operations to maintain its production processes’ flexibility and resilience in the face of global trade uncertainty. Both businesses aim to strengthen regional economies and reduce the risks related to issues with global supply chains.

BAE Systems is also increasing its domestic production. It is a global leader in the aerospace and military sectors and invests in domestic manufacturing to maintain control of its supply chain. In addition to investing more in manufacturing facilities, these businesses use cutting-edge technologies like automation, robots, and artificial intelligence to increase productivity and streamline processes. This technological change makes the reshoring strategy more competitive globally by reducing the higher expenses usually associated with domestic production.

This trend is being helped through programs like Reshoring UK, a partnership between top industrial engineering groups created to assist corporations in connecting with reliable, accredited suppliers. Reshoring is not without its difficulties. Companies must make significant capital investments, deal with skills shortages, and pay more for domestic production. Many companies think these obstacles outweigh the long-term advantages, including increased supply chain security, higher-quality products, and creating jobs.

Businesses are finding it easier to implement reshoring plans due to significant advancements in automation and artificial intelligence that help offset some of the higher domestic production costs. 58% of UK manufacturers are reshoring their operations, with many noting increased value and improved supply chain security as the main advantages.

Businesses in the UK are reshoring as a strategic response to the unpredictability of the global economy and as an attempt to boost domestic manufacturing. Big businesses like Jaguar Land Rover, Rolls-Royce, and BAE Systems have invested in economic growth, job creation, and a more resilient supply chain. As this integration develops, it might significantly impact the UK economy and allow other nations to regain control over their output.

The Alto Project: Canada’s high-speed rail vision

Thu, 03 Apr 2025 10:58:23 -0400

The Canadian government unveiled the plans to develop Alto, a high-speed rail network that connects Quebec City and Toronto, which is being hailed as a landmark move. The ambitious project can completely revolutionize intercity transit through Canada’s most densely populated corridor, promising immense economic and environmental benefits.

Inside Canada’s Alto Rail Project

The plans of the proposed Alto network indicate that this will span approximately 1,000 kilometers, linking major Canadian urban centers, including Toronto, Peterborough, Ottawa, Montreal, Laval, Trois-Rivières, and Quebec City. The trains in this network are expected to run up to 300 km/h (186 mph). This would have a massive role in reducing travel time between Montreal and Toronto to about three hours. Over six years, the Canadian government has planned to commit CAD 3.9 billion to the project for the planning and preliminary work. However, with the nascent nature of the project, construction timelines and total costs for the rail network to become operational are yet to be entirely determined.

How High-Speed-Rail Powers Economic Growth

There are substantial economic benefits that can be reaped from the introduction of the high-speed rail system in Canada. The C.D. Howe Institute published a report suggesting that a link of the proposed nature can generate billions of dollars in economic gains by positively impacting productivity and connectivity in key business hubs. Apart from this, approximately 51,000 jobs are expected to be created by the project during the construction phase. The Alto Project is also expected to boost Canada’s GDP by CAD 35 billion annually.

Catching up: High-Speed Rail in G7 Countries

Canada was lagging behind the other G7 countries as the only member nation that did not have an operational high-speed rail system. The other G7 member nations already have operational High-speed rail systems. They are listed below:

France: The Train à Grande Vitesse (TGV) connects cities across France and travels at speeds up to 320 km/h (199 mph).
Germany: The InterCity Express, called ICE, provides rapid transit across major cities in Germany.
Japan: The Shinkansen, colloquially known as the “bullet train” in English, is internationally renowned for its fast speed and reliability.
Italy: The Frecciarossa reaches speeds up to 400 km/h (249 mph).
United Kingdom: The Eurostar connects London with continental Europe through the Channel Tunnel.
United States: While not as extensive as its European counterparts, the Amtrak Acela Express operates in the Northeast Corridor of the USA.

The absence of high-speed rail in Canada has been noted as a gap in its transportation infrastructure.

Greener Tracks: The Environmental Impact

High-speed rail presents a more sustainable alternative to car and air travel. Studies indicate that such systems can significantly reduce carbon emissions by decreasing reliance on fossil fuels. Being fully electric, the Alto project aligns with Canada’s environmental objectives and is anticipated to lower the carbon footprint of intercity travel.

Who Should Fund Canada’s Rail Future?

The funding model for the Alto project involves a public-private partnership (P3), with the Cadence consortium. The consortium comprises companies including, but not limited to, Air Canada, AtkinsRéalis Group, and the French SNCF. They have been selected to co-design, build, finance, operate, and maintain the rail network. While P3s can leverage private sector expertise and efficiency, concerns have been raised regarding their suitability for public infrastructure projects. Critics argue that such partnerships may prioritize profit over public interest, potentially leading to higher costs and compromised service quality. Advocates for public funding suggest that government-led initiatives could ensure that the project remains focused on public benefits, such as affordable fares and comprehensive service coverage.

In conclusion, Canada’s transportation landscape has a massive transformative opportunity thanks to the Alto high-speed rail project. This project has immense potential for increased economic growth, enhanced environmental sustainability, and modernized intercity travel. To ensure that Canadians realize the full benefits of this project, funding models and execution strategies need to be discussed carefully.

The importance of having mascots in business

Wed, 02 Apr 2025 10:29:00 -0400

Mascots are a fundamental part of a brand’s image. When companies promote their latest products and services, mascots make certain advertisements and social media posts far more memorable and engaging.

It helps create its identity so the public can immediately see where the mascot originates. They connect to the consumers as it is known to increase its customer bond by 40%. This strategy is most worthwhile for children as they are known to consume products with that adorable mascot on the packaging. As this occurs worldwide, it’s not just companies that use this tactic. The Olympics, universities, professional sports teams, and countries representing themselves also have their own respective mascots. We will go through some examples of how mascots bring in engagements for consumers to feel that attachment towards a particular brand.

Duolingo has been making interesting headlines recently for their mascot as the official account posted a video of the Duolingo owl, Duo, getting hit by a Tesla Cybertruck. An unorthodox marketing strategy is to gain attraction for the brand, as the owl is the symbol for Duolingo. However, this brought many mixed opinions on the media as Duo is known to have a distinct personality based on how the captions are written for each post. With a sense of humor being used for their language learning app, Duolingo had that marketing element to use their mascot to keep the consumers’ attention on the brand constantly.

Another example is Japan’s selection of famous mascots they have created over the years. Their mascots are known to be called “yuru kyara,” which means loose characters in Japanese. These characters are known to represent their respective regions of Japan and have their backstories about them. Similar to Kumamon, the mascot for Kumamoto City, Sanomaru represents Sano City with the character design coming from the city’s local ramen. It’s a unique way of showing what the region offers when people visit it!

Thailand also has a way of projecting its mascots. Labubu became the main mascot for Thailand’s tourism campaign under the Tourism Authority of Thailand, which is planning to increase the number of Chinese tourists by 8 million. As Labubu has transitioned from being a doll originating from Hong Kong to Thailand’s mascot, it has signified its place as a pop culture phenomenon, with many collectors wanting Labubu merchandise through pop-up stores and exhibitions. This was followed by another mascot that joined the tourism campaign named Butterbear, a mascot for Coffee Beans by Dao. An icon known to be an idol on social media and has the traits of being a successful mascot as it builds a bond with the audience.

Mascots have been around since the late 19th century, with a live bear cub appearing at a Yale vs. Harvard football game in 1894 as its first known mascot for sports in the U.S. From then on, we’ve seen various kinds of animal mascots being each team’s signature style of branding. Although it has had its use historically, this marketing strategy can be known to be a trend. However, there has been a decline in companies using their mascots as much as in the past. But, the potential use in innovating their mascots is also high as the latest technologies make it possible for mascots to interact with the consumer through CGI. We will have to see how mascots evolve in the future and how they will be utilized for marketing in this ever-changing industry.

Pandemic pets reshape the global pet industry

Tue, 01 Apr 2025 11:12:46 -0400

Pets have gone from companions to full-fledged family members, and the world’s wallets are proving it. From gourmet pet meals to high-tech grooming, spending on furry friends is skyrocketing and showing no signs of slowing down.

This surge isn’t just about pampering, however— it’s a reflection of shifting lifestyles, rising disposable incomes, and a post-pandemic trend where pet ownership has reached new heights. Since COVID, lockdown saw adoption and fostering rates explode and continue to rise.

Particularly in Europe, pet ownership has surged, with countries like Germany, France, and the United Kingdom seeing a significant rise in households welcoming pets. In the former, the number of pet-owning households increased by 20% since 2020, with over 34 million cats and dogs now residing in German homes. France has followed a similar trend, with nearly half of all households owning a pet, fueled by a growing emphasis on companionship and wellness. Meanwhile, in the U.K., pet adoption rates spiked during the COVID-19 pandemic.

Especially in recent years, an increasing number of pet owners have demonstrated higher willingness to spend on premium pet food, veterinary care, and wellness services. In the United States alone, high-end pet food now accounts for over 42% of sales, reflecting a broader shift towards organic or specialty diets.

Food company General Mills recently acquired Cloud Star and Tiki Pets for $1.45 billion to strengthen its presence in the wet food pet category, a segment experiencing high annual increases in sales. Similarly, in Europe, 59% of pet owners prioritize sustainability when choosing pet food, prompting investment in eco-friendly and alternative protein options for their companions.

Rising veterinary costs are another factor reshaping the industry; over the past decade, pet healthcare expenses have surged by 60%, with veterinary inflation outpacing general consumer inflation at 10.6% in 2023. In fact, the average pet insurance premium in the U.S. has risen to an estimated $640 per year, not only contributing to the financial burden on pet owners, but also expanding the pet insurance market. As a result, some governments are even considering price controls or subsidies to ensure that pet healthcare can be accessible.

In addition to increased attention being paid to pet comfort, convenience for owners is another draw that is accelerating industry growth. E-commerce and technological developments are making it easier for owners to access higher quality pet purchases, and innovations like AI-powered health monitoring devices, GPS pet trackers, and automated feeders are growing in popularity. For example, online pet product sales in Germany went up by 34% in 2023, as consumers increasingly rely on companies like Chewy and Zooplus for fast delivery of specialized products. Experts project the pet tech market to grow at 20% through 2028, displaying increasing consumer interest in high-tech solutions for their animals.

Notably, demographics are significantly influencing market trends, particularly as Millennials and Gen Z now make up 33 and 25% of all pet owners in the U.S., respectively. These younger consumers tend to prioritize high-end, health-focused, and sustainable pet products, influencing corporate strategies as a result; their spending habits have led to a growing market for organic pet food and eco-friendly toys. Additionally, as studies display that companion animals provide significant mental and emotional health benefits, pet ownership among older adults.

The pet care industry is in the midst of a fundamental transformation, shaped by economic shifts, technological advancements, and changing consumer priorities. What began as a pandemic-driven surge has become a lasting trend, with businesses continuously innovating to meet the evolving needs of pet owners. As the global perception of pets continues to shift, the industry is poised for continued growth, investment, and expansion.

The growing influence of solar power

Mon, 31 Mar 2025 10:06:18 -0400

With the growing energy demand around the world, renewable energy is accounting for a greater portion of the expansion.

Solar and wind are in the best position to take advantage of this growing demand. Currently, China is the leading country in solar and wind capacity. However, in the United States solar and wind combined for more electricity than from coal for the first time.

In 2024, 80% of all new capacity was from solar energy in the United States. However, of all the renewable energy produced in 2024, 2/3s of it was produced in China. With solar power representing 2/3s of China's renewable energy. The drastic reduction in costs for solar panels is one of the leading factors for its large growth. Over the past 60 years price per watt has dropped from over $100 to $.3 in 2023. While in the last 10 years alone battery prices have dropped by almost 80%. This drastic reduction in price is mainly due to China seeing improvement in their manufacturing, which is why they supply 80% of the international supply of solar panels. However, improvement in battery technology has led solar energy to become more efficient, making it easier to store and use power even when there is no sun. Resulting in an additional 585 billion watts of energy coming from renewable sources around the world, with China supplying 374 billion.

With the increasing demand for electricity due to a rise in data centers and their vast demand for electricity, solar is in a superior position to capitalize on this due to their cheap and fast construction times. According to John Ketchum, Chief Executive of NextEra Energy, “If you take renewables and storage off the table, we’re going to force electricity prices to the moon”. Over the next 15 years, US electricity demands are projected to increase by 50%, and currently, 93% of all new projects come from renewable energy showing the vast potential for growth. Not only is it cheaper to build solar plants, it also takes significantly less time. It can take 5 years to order new gas turbines, while it can take only 12 to 18 months to build a new solar plant.

However, with uncertainty in the United States around tax credits for low-carbon energy, there has been a decrease in new jobs and workers. However many House members support the preservation of incentives for low-carbon sources. ConservAmerica, a conservative environmental group, estimated that repealing the tax credit could raise electricity costs by 51 billion by 2035.

Even outside of the United States and China demand for solar and wind power is growing. In Australia, solar energy powers ¼ of their grid. Even Mexico, Turkey, and Vietnam are growing their solar power capabilities faster than other methods. In Somalia, solar power went from being nonexistent to 17% of their market. Internationally renewables grew 15% as the market hit 2 trillion. But just because renewable energy is growing doesn’t mean that coal and gas are shrinking. China and India have both drastically increased their solar power while also using more coal and gas. Recently, India’s parliament implemented a bill increasing its oil and gas production while pledging the importance of renewable energy.

Here are the risks of a Canadian energy export halt

Thu, 27 Mar 2025 12:02:33 -0400

Canada is the largest foreign supplier of crude oil to the U.S., exporting over 3.7 million barrels per day, which is more than half of total U.S. oil imports. If that supply suddenly disappeared, it wouldn’t just be a problem for North America; the implications of this would be prominent throughout the global energy market.

Rising fuel prices, supply shortages, and shifts in trade relationships could force governments and businesses to rethink their energy strategies. Although it seems unlikely, growing political tensions, environmental policies, and new trade priorities could push Canada to reconsider where its energy goes. If that happens, we will see the impacts worldwide.

Canada is one of the world’s largest energy producers, ranking among the top five global oil suppliers. A massive portion of its crude oil, natural gas, and refined petroleum products are exported, with the U.S. as its primary customer. In 2023, Canada sent over 3.7 million barrels of crude oil every day to the U.S., making up more than half of total U.S. crude imports. This trade relationship is built on an extensive pipeline network, including Keystone XL, Enbridge Line 5, and the Trans Mountain Pipeline, which ensures a steady flow of Canadian oil to U.S. refineries.

Canada is also a major exporter of natural gas and electricity, particularly to states like Michigan, New York, and California. The U.S. and Canada are interlinked in energy trade, and any disruption can seriously affect both economies. With energy security becoming a growing concern, the possibility of Canada cutting or shifting its exports raises concerns about how the energy market will change.

While a full halt on Canadian energy exports isn’t likely, there are a few reasons why Canada might consider limiting or shifting where its energy goes. One of the biggest factors is environmental and climate policies. Canada has set net-zero emissions goals by 2050, which means ramping up investment in renewable energy and cutting back on fossil fuel reliance. Stricter regulations on oil production or the gradual phaseout of pipelines could naturally lead to a drop in exports.

Trade tensions with the U.S. could also play a role. Disputes over pipelines, tariffs, and energy regulations have caused issues between the two countries before, and if new restrictions are implemented, Canada could start looking into other regions. China, India, and Europe are all growing energy markets that could become priority buyers. Canada also might want to diversify its energy partnerships to avoid relying too heavily on U.S. demand. As the global energy market changes, Canada could focus its exports on regions offering better long-term trade relationships.

If Canada were to cut its energy exports, the U.S. would feel the impact immediately. A sudden drop in Canadian oil supply would drive up gasoline and diesel prices, hitting both consumers and businesses across multiple industries. To offset this, the U.S. would have to ramp up domestic production or turn to alternative suppliers like OPEC, Venezuela, or other oil-producing nations. Beyond price hikes, U.S. refineries would have to make adjustments. Many are designed specifically for Canadian heavy crude, so losing that supply would mean expensive modifications and potential reductions in overall fuel output.

Natural gas and electricity exports from Canada are also a key part of the energy trade between the two countries. Regional power grids in northern U.S. states, especially those that rely on Canadian hydroelectricity, would be negatively impacted.

Unlocking global opportunities with dual citizenship

Wed, 26 Mar 2025 10:03:32 -0400

In today’s globalized economy, the ability to move freely across borders and access multiple markets is an advantage for business professionals. Dual citizenship or obtaining a second passport through Citizenship by Investment programs has emerged as a strategic asset, offering numerous financial, personal, and professional benefits.

As the demand for these programs grows, international businesses and investors recognize the value of securing a second nationality to enhance mobility, financial stability, and market access.

CBI programs have gained traction among high-net-worth individuals and business owners looking to optimize their international operations. Countries like St. Kitts and Nevis, Malta, Cyprus, and Dominica offer pathways to citizenship through financial contributions, real estate investments, or direct business investments. These programs provide an expedited process for obtaining citizenship in exchange for economic benefits to the host country, creating a mutually beneficial relationship.

According to a report by Fortune, there has been a significant increase in the number of individuals seeking second passports, particularly in regions where economic uncertainty, political instability, or restrictive travel policies are concerns Similarly, the growing interest in CBI programs among family business owners in the UAE highlights the need for greater security and access to global markets.

Traveling more freely is one of the most immediate and tangible benefits of holding dual citizenship. Many CBI programs grant visa-free or visa-on-arrival access to numerous countries, making international business travel more efficient. For example, Caribbean passport holders often enjoy visa-free access to the Schengen Area, the UK, and parts of Asia, significantly reducing bureaucratic hurdles for business professionals attending meetings, exploring markets, or expanding operations. A second passport allows entrepreneurs to establish and operate businesses in multiple jurisdictions.

Some countries offer more business-friendly environments, such as lower corporate taxes, fewer regulatory restrictions, and access to trade agreements. A second citizenship can provide a gateway to regional economic hubs like the EU or ASEAN, enabling businesses to reach new consumers and markets more effectively. Many countries with CBI programs offer attractive tax policies, such as no taxation on worldwide income, capital gains, or inheritance. Investors and business owners can leverage these tax benefits to improve wealth management strategies. For example, Malta’s CBI program grants EU citizenship, allowing businesses to take advantage of favorable corporate tax rates and access to the single market.

Dual citizenship is an insurance policy for business professionals from politically unstable regions. It provides an alternative place of residence in case of economic downturns, social unrest, or government instability. Additionally, having a second passport ensures access to stable banking systems, asset protection, and investment diversification in more secure financial environments.

Recent trends indicate that more Americans are considering second citizenship. Following the 2024 U.S. presidential election, there was a 392% increase in inquiries about second passports, with many wealthy individuals seeking alternative residency options due to concerns over policy changes and taxation. This surge highlights the growing awareness of dual citizenship as a financial and strategic asset. For family-owned businesses, dual citizenship is essential for succession planning and wealth preservation. It allows heirs to inherit assets in multiple jurisdictions without complex legal barriers and ensures continuity in business operations across different regions.

UAE-based family businesses, for instance, are increasingly seeking dual nationality to secure long-term growth, navigate economic fluctuations, and protect their legacy. Many CBI programs require real estate investment, offering investors residency benefits and potential financial returns. This approach allows business owners to diversify their portfolios while securing a second citizenship. Through its Golden Visa program, countries like Portugal provide residency opportunities with pathways to citizenship, making it a prime choice for international entrepreneurs. The benefits of dual citizenship and second passports become more apparent.

From increased global mobility and access to new markets to financial stability and personal security, dual nationality offers a strategic advantage for business professionals. For entrepreneurs and investors looking to future-proof their businesses, acquiring second citizenship through CBI programs is no longer a luxury but a necessity in today’s competitive global market.

NIL deals: How college athleticism is reshaping the economy

Tue, 25 Mar 2025 13:14:26 -0400

NIL deals, otherwise known as Name, Image, and Likeness (NIL) deals, became available to college athletes on July 1st, 2021, allowing them to profit from their personal brand. Since then, NIL has reshaped college sports, influencing financial empowerment for athletes, recruitment strategies, the role of third-party collectives, and the broader economic landscape of collegiate athletics.

While the U.S. has led this movement, NIL regulations vary across countries, creating unique opportunities and challenges for athletes worldwide. In the first year, collegiate athletes racked up nearly $917 million in total revenue from NIL deals.

This number has only continued to increase as more companies expand their NIL partnerships, including local businesses, major brands, and even international endorsements. It is predicted that NIL deals and endorsements will generate around $1.14 billion over the next 12 months. As NIL continues to evolve, more industries are recognizing the value of partnering with college athletes, from traditional sports brands like Nike and Adidas to emerging sectors such as tech startups and financial services.

The rapid rise of NIL deals has also fueled competition among universities to attract top talent, with schools leveraging NIL opportunities as a recruitment tool. Prospective student-athletes are now factoring in a school’s NIL setup when making their decisions, looking for programs that will help them build their brand and create business opportunities. As a result, universities are stepping up their NIL efforts, knowing that a strong NIL environment not only brings in top talent but also boosts the school’s reputation and appeal.

The concept of Name, Image, and Likeness (NIL) deals has not only reshaped college sports in the U.S., but it is also beginning to expand internationally. While the U.S. remains at the forefront of this movement, other countries are starting to explore how NIL could benefit their athletes. For instance, Canada is trying to adjust its regulations to align with the growing NIL trend. Canadian athletes have found ways to navigate restrictions, like Aaliyah Edwards’, which she can only take advantage of when back in Canada. Others, like Zach Edey, have only been able to cash in on rare opportunities when playing in Canada.

Local sponsorships or social media shout-outs can typically earn athletes anywhere from $50 to $500 per post, making them a good option for those with a regional following. Athletes who stand out or have a bigger regional influence can land deals worth $1,000 to $10,000. At the top level, big-name athletes at major programs can secure NIL deals worth $100,000 or more. The highest-value deals often go to star players with national recognition, like quarterbacks. As NIL deals continue to grow, it’s clear the landscape is evolving beyond the U.S.

The rise of NIL deals has significantly transformed the landscape of college athletics, offering athletes unprecedented financial opportunities while reshaping recruitment and competition among universities. As NIL continues to evolve, it’s clear that its impact will extend beyond U.S. borders, influencing global collegiate sports and creating new opportunities for athletes worldwide. The growth of NIL partnerships, from local sponsorships to multi-million-dollar deals, signals the continuing expansion of this market, further cementing the importance of athletes’ personal brands in the modern sports economy. This shift is opening up more opportunities for athletes from all backgrounds, making it easier for them to capitalize on their personal brand.

Understanding the impact of congestion pricing

Mon, 24 Mar 2025 10:33:58 -0400

In today’s age, the most common means of transportation is driving a car. Based on statistics from December 2024, 72% of American workers commute to work using a personal vehicle or car.

This pattern is also typical in urban areas. The large number of vehicles in dense cities has led to traffic congestion, causing driving to be less efficient.

There have been different efforts over the years to try to lighten the use of cars in these urban settings, such as investment into public transportation like bike paths, subway systems, and the use of buses. Another strategy that has been implemented around the world more recently is the use of congestion pricing.

Congestion pricing is the act of charging user fees to drivers who are driving on certain streets within a city area. For example, in New York City, cars entering Lower Manhattan will be charged a $9.00 fee or a $2.25 fee if the vehicle stays overnight. This practice is a reasonably new attempt at reducing congestion, as NYC is the first American city to implement congestion pricing, with the Manhattan tolls starting in December 2024.

While new in the USA, practices have been happening for several decades. Singapore has been using congestion pricing in dense city areas since 1975. The Singapore application saw reduced congestion by 20% within the first few months of its use. While the payment originated as a toll fee, nowadays, it is automated for any car entering the city’s restricted area. Other applications can be found in London, England, and Stockholm, Sweden. These programs were in operation from 2003 to 2007. While faced with criticism in the early stages, both cities have seen positive reviews once congestion has been reduced.

Even though congestion pricing has seen success worldwide, it is still not fully understood as a common practice. Recently, the NYC application has seen pushback at the federal level. In 2025, the new U.S. Department of Transportation Secretary, Sean Duffy, has set to shut down the use of congestion pricing in Manhattan. The initial date to shut down the program was Friday, 3/21/25, but a 30-day extension was implemented while discussions continued.

Governor Kathy Hochul is still optimistic about using congestion pricing, stating that traffic in the central business district has dropped by 11% since the implementation of the toll. Retail sales within the area are also projected to be $900 million higher than last year. Both sides feel strongly about where they stand, and discussions will continue throughout the year.

In conclusion, congestion pricing has been shown to reduce traffic congestion in multiple worldwide applications. While reducing the congestion of car traffic has also been shown to have economic benefits for businesses in the tolled zones. Applications in Singapore and Stockholm have had time to adjust to the tolled areas, and citizen criticism has turned into a fondness for the restrictions.

Similar to those programs, the recent introduction of tolling in Manhattan, New York, has led to pushback on the federal level. Whether this is the method of the future or not, traffic congestion within cities will continue to be a topic of discussion, and it will be interesting to see what new approaches for reducing congestion will be implemented.

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