Latest news with #USD3
The Citizen
16-07-2025
- Business
- The Citizen
Hunting tourism pumps R44 Billion into South Africa's economy,
Amid global debates on ethical travel and wildlife preservation, a new study from North-West University shines a spotlight on an often-overlooked sector that quietly props up South Africa's rural economy: hunting tourism. In the aftermath of COVID-19, tourism economies the world over struggled to recover. But in South Africa, hunting tourism, both domestic and international trophy hunting, has not only rebounded; it has emerged as a critical economic driver. A new study led by Prof Peet van der Merwe and Prof Andrea Saayman from the North-West University titled Assessing the contributions of hunting tourism to the South African economy: a post‑COVID analysis, calculates hunting tourism's annual contribution to South Africa's economy at a staggering USD2.5 billion, or about R44.03 billion. The figure is not just large, it's transformative. Local hunters, who constitutes mostly middle-aged men from provinces like Gauteng, make up the bulk of this economic activity. With each local hunter spending an average of USD3,594 per season, their collective annual spend tops USD718 million. International hunters, often affluent retirees from the United States, spend far more per trip – an average of USD32,663 – primarily on game, trophies, accommodation, and daily rates. Though fewer in number, their spending adds another USD169 million to the tally. But the significance goes beyond raw expenditure. Employing a Social Accounting Matrix (SAM), the researchers found a production multiplier of 2.97. In lay terms: for every USD1 spent, an additional USD1.97 is generated in economic activity. The ripple effect spreads across agriculture, trade, accommodation, transport, and personal services. Perhaps the most striking finding is employment. Approximately 95 000 jobs in South Africa depend on hunting tourism. Many of these roles such as trackers, farm hands and cleaners require limited formal education, making the sector a vital source of income in a country grappling with a 32.9% unemployment rate. Over 60% of these jobs fall within low-skilled categories, underscoring hunting tourism's outsized impact on South Africa's most vulnerable workers. Hunting tourism's lifeblood flows into rural economies, often bypassed by mainstream tourism. Provinces like Limpopo benefit enormously from the inflow, with private game farms – many converted from struggling livestock operations – thriving through sustainable use. Notably, South Africa's wildlife population on private land now exceeds that in national parks, and the study argues that hunting revenue has underwritten significant rewilding efforts. The researchers also point to a powerful conservation dividend. Contrary to popular belief, regulated hunting creates financial incentives for landowners to protect and repopulate wild species. Without such incentives, many might revert to traditional farming, leading to habitat loss and diminished biodiversity. To some, hunting remains morally fraught. But the study emphasises that economic survival for many rural communities hinges on this industry. Importantly, the research does not gloss over ethical concerns. Instead, it calls for measured policy, recognising hunting tourism's proven contribution to jobs, conservation, and poverty alleviation. Moreover, the sector's resilience post-COVID is telling. As international travel resumes, South Africa has found in hunting tourism a niche that not only endures but thrives. It speaks to a broader shift in post-pandemic tourism: towards immersive, exclusive, and, at times, controversial experiences. With sectors like agriculture, hospitality, and logistics all feeding off the hunting economy, the study urges policymakers to acknowledge and protect this value chain. Legislation around land use, conservation, and hunting quotas must be grounded in economic realities, not just ideological preferences. Missteps could jeopardise both wildlife and livelihoods. Hunting tourism may not be everyone's idea of a sustainable economy. Yet, in South Africa's post-pandemic landscape, it is delivering where others have faltered. It supports rural economies, funds conservation, and employs tens of thousands, many of them low-income workers with few alternatives. In a world seeking green growth with social equity, the rifle may be a more unexpected ally than critics care to admit. At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
Borneo Post
05-07-2025
- Business
- Borneo Post
Sabah Cockle Resource and Industry Development Project launched
Hajiji releasing the blood cockle broodstock at the jetty of the Borneo Beach and Mangrove Resort in Tuaran on Saturday. TUARAN (July 5): The State Government has launched the Sabah Cockle Resource and Industry Development Project that has potential to generate RM34.4 million, based on an estimated landing of 3,240 metric tonnes per year and a return on investment of 7.6 times. Chief Minister Datuk Seri Panglima Haji Hajiji Haji Noor said the project would open up new export opportunities for Sabah cockles through downstream activities such as canning, sambal kerang (cockle paste) and blood cockle-based food products. 'For the private sector, this is the best time to invest in seafood processing, sustainable packaging, and the development of Sabah's export supply chain. 'This opportunity is not only profitable but also builds a sustainable future,' he said at the launching of the project at the Borneo Beach and Mangrove Resort here on Saturday. The Chief Minister said the Sabah Cockle Resource and Industry Development Project aligns with the State Government's commitment to ensure the Blue Economy becomes a solid economic foundation for the people of Sabah. The State Government is committed to taking steps in exploring marine and maritime resources as part of efforts to strengthen the state's position in the international Blue Economy landscape. 'The Blue Economy not only has the potential to balance prosperity with sustainability, but by the year 2030, the global value of the Blue Economy is projected to reach USD3 trillion,' he said. The Sabah Cockle Resource and Industry Development Project, to be carried out in two phases, is a collaboration between the Sabah Economic Development and Investment Authority (SEDIA), the Malaysia Fisheries Department and the Sabah Fisheries Department. The first phase, which has already been completed, involved mapping studies and exploration of blood cockle (Tegillarca granosa) resources conducted from October 2024 to May 2025 at six potential locations, including Tuaran and Beluran, which would kickstart the pilot project. The second phase of the project is scheduled to commence in 2026, involving the transfer of technology and actual field implementation. Hajiji said that a total of 77 aquaculture lots have been identified, comprising 12 in Tuaran and 65 in Beluran covering an area of 1,617 hectares. Each lot will be managed by 10 household heads (KIR), making it a total of 770 KIR as the main beneficiaries, comprising fishery entrepreneurs, rural communities and the B40 group. 'In fact, even if only 40 per cent of the lots operate at optimum capacity, participants can generate a monthly income of around RM4,800 to RM6,500,' he said. 'Certainly, the communities involved will gain sustainable income through blood cockle farming. Youth will also be trained in modern aquaculture skills, producing a new generation of Sabah's marine entrepreneurs. 'Indeed, this project will not only bring significant change to the people, particularly the community involved, but also to the environment and the state's economy. 'Sabah will be developed as the ASEAN Blue Seafood Hub, on par with major producing states such as Perak, Penang and Selangor,' he said. The Chief Minister said the State Government is fully committed to supporting this industry and want the project participants to get continuous training and modern technology. 'I urge the communities in Tuaran and Beluran, as the pioneers or leaders of this project, to fully utilise the acquired modern technology to enhance the capacity and productivity of the aquaculture sector,' he said.
The Star
05-07-2025
- Business
- The Star
Sabah launches cockles development project to potentially generate RM34mil in annual revenue
KOTA KINABALU: Sabah has launched its Cockle Resource and Industry Development Project, which has the potential to generate RM34.4mil in annual revenue, once fully operational. Chief Minister Datuk Seri Hajiji Noor said this number was based on an estimated landing of 3,240 metric tonnes per year and a return on investment of 7.6 times. He said this project would open up new export opportunities for Sabah cockles through downstream activities such as canning, sambal kerang (cockle paste) and blood cockle-based food products, offering not only profits but also building a sustainable future. 'For the private sector, this is the best time to invest in seafood processing, sustainable packaging, and the development of Sabah's export supply chain,' he said at the launching of the project at the Borneo Beach and Mangrove Resort Tuaran, Saturday (July 5). Hajiji said the Sabah Cockle Resource and Industry Development Project aligned with the state government's commitment to ensure that the Blue Economy becomes a solid economic foundation for the people of Sabah. He said Sabah was committed to taking steps in exploring marine and maritime resources as part of efforts to strengthen the state's position in the international Blue Economy landscape. 'The Blue Economy not only has the potential to balance prosperity with sustainability, but by the year 2030, the global value of the Blue Economy is projected to reach USD3 trillion (RM12.6trillion),' he said. This project, to be carried out in two phases, was a collaboration between the Sabah Economic Development and Investment Authority (Sedia), the Malaysia Fisheries Department and the Sabah Fisheries Department, said Hajiji. The first phase, which kickstarts the project, has already been completed and involved mapping studies and exploration of blood cockle (Tegillarca granosa) resources conducted from October 2024 to May 2025 at six potential locations, including Tuaran and Beluran, he said. The second phase of the project is scheduled to commence in 2026, involving the transfer of technology and actual field implementation. Hajiji said that a total of 77 aquaculture lots have been identified, comprising 12 in Tuaran and 65 in Beluran, covering an area of 1,617 hectares. Each lot will be managed by 10 household heads (KIR), making it a total of 770 KIR as the main beneficiaries, comprising fishery entrepreneurs, rural communities, and the B40 group. 'In fact, even if only 40% of the lots operate at optimum capacity, participants can generate a monthly income of around RM4,800 to RM6,500,' he said. 'Certainly, the communities involved will gain sustainable income through blood cockle farming. Youth will also be trained in modern aquaculture skills, producing a new generation of Sabah's marine entrepreneurs,' Hajiji said. He said this project would not only bring significant change to the people, particularly the community involved, but also to the environment and the state's economy. 'Sabah will be developed as the Asean Blue Seafood Hub, on par with major producing states such as Perak, Penang, and Selangor,' he said. Hajiji said the state government was fully committed to supporting this industry and wanted the project participants to get continuous training and modern technology. 'I urge the communities in Tuaran and Beluran, as the pioneers or leaders of this project, to fully utilise the acquired modern technology to enhance the capacity and productivity of the aquaculture sector,' he said.
India.com
10-06-2025
- Business
- India.com
One statement by US President Trump and Elon Musk hits jackpot due to...
One statement by US President Trump and Elon Musk hits jackpot due to... New York: Amid the deteriorating relationship between the most powerful man and the richest man in the world over the 'One Big Beautiful Bill,' United States President Donald Trump said that he is not going to get rid of Elon Musk's companies — Tesla and Starlink. Following this positive statement shares of the electric vehicle manufacturing company Tesla skyrocketed by 5 percent. This development led to a jump of USD 13.9 billion in the wealth of the company's CEO Elon Musk. According to Bloomberg Billionaires Index, Musk's net worth has now reached USD 356 billion. However, his wealth has decreased by USD 76.2 billion this year. It is worth noting that Tesla is one of the world's leading electrical vehicle companies with a market cap of USD993.92 billion. It is ranked 11th in the list of top valuable companies in the world. Microsoft is the world's most valuable company with a value of USD3,513 trillion. It is followed by Nvidia (USD3.478 trillion), Apple (USD 3,045 trillion), Amazon (USD2.303 trillion) and Google's parent company Alphabet (USD2.114 trillion). Meta Platform, Saudi Aramco, Broadcom, TSMC and Berkshire Hathaway are included in list. Who Are In The Top 10 Recent ranking of the world's wealthiest people put Mark Zuckerberg in the second position with a net worth of USD245 billion. Jeff Bezos, Larry Ellison, Bill Gates, Steve Ballmer, Larry Page, Warren Buffett, Bernard Arnault, and Sergey Brin also mentioned in the top ten. Mukesh Ambani and Gautam Adani are ranked 17th and 20th in the richest persons list, with net worths of USD105 billion and USD84.8 billion.
Yahoo
04-06-2025
- Business
- Yahoo
North America High-Net-Worth Individual Population Surges, While Europe and Middle East Shrink: Capgemini Report
U.S. led the world in growth in its millionaire population, adding 562,000 to reach 7.9 million Ultra-high net worth individual population rises by 6.2% worldwide High-net-worth individuals now allocate 15% of their portfolios to alternative investments, including cryptocurrencies PARIS, June 04, 2025--(BUSINESS WIRE)--The Capgemini Research Institute's World Wealth Report 2025, published today, reveals the global high-net-worth individuals1 (HNWIs) population rose by 2.6% in 2024. Now in its 29th edition, the report finds this increase was driven by the growth in the population of ultra-high-net-worth individuals (UHNWIs), which grew by 6.2%, as strong stock markets and AI optimism boosted portfolio returns. The data indicates that alternative investments2, such as private equity and cryptocurrencies, are now an established presence in HNWI holdings, representing 15% of their portfolios. Bullish stock market performance in the U.S. fuels wealth increaseA favorable interest rate environment and strong U.S. equity market returns helped boost wealth creation in 2024. North America saw the biggest gains, with the HNWI population rising by 7.3%. In contrast, Europe, Latin America and the Middle East saw declines in their HNWI populations, as macroeconomic challenges weighed. At the end of 2024, according to Capgemini's research: Europe's HNWI population declined 2.1% due to economic stagnation in major countries, with United Kingdom, France and Germany losing 14,000, 21,000 and 41,000 millionaires, respectively. In contrast, Europe's UHNWI population rose 3.5%, reflecting increased wealth concentration. Asia-Pacific's HNWI population increased 2.7%, with notable variability across the region. Latin America's HNWI population declined 8.5%, due to currency depreciation and fiscal instability. Brazil (-13.3%) and Mexico (-13.5%) witnessed the biggest population declines. The Middle East's HNWI population declined 2.1%, driven by lower oil prices. Within the largest individual markets, the U.S. was the clear leader, adding 562,000 millionaires as the country's HNWI population grew by 7.6% to 7.9 million. India and Japan were standouts in the Asia-Pacific region, with both countries registering 5.6% growth, adding 20,000 and 210,000 millionaires, respectively. In contrast, growth in China was negative, with HNWI population declining by 1.0%. Next-gen HNWIs seek wealth management firms that align with investment prioritiesWealth management firms are actively preparing for a new era of wealth transfer in which 83.5 trillion USD3 will change hands over the next two decades, creating the next generation of HNWIs4. According to the report, this handover will unfold in three phases: 30% of HNWIs will receive an inheritance by the end of 2030, 63% will inherit wealth by the end of 2035, and 84% by 2040. "The great wealth transfer will be a defining moment for the industry. Despite global wealth on the rise, 81% of inheritors plan to switch firms within one to two years of inheritance. Potentially losing these unsatisfied clients is going to create significant risk for the global wealth management sector," said Kartik Ramakrishnan, CEO of Capgemini's Financial Services Strategic Business Unit and Group Executive Board Member. "The next-generation of high-net-worth individuals arrive with vastly different expectations to their parents. This necessitates an urgent shift away from traditional strategies to effectively cater to their evolving needs on this wealth journey. Firms must also prepare to equip advisors with the digital capabilities, potentially augmented with agentic or generative AI, to mitigate the risk of losing both clients and key employees." As of January 2025, HNWI investors parked 15% of their portfolios in alternative investments, including private equity and cryptocurrencies. They are willing to take more risks to expand their wealth – allocating capital to higher growth asset classes and niche product offerings, notably by 61% of millennial and Gen Z HNWIs. To attract next-gen HNWIs, wealth management firms must rethinkThe report highlights that wealth management firms need to refresh and revamp their services and offerings to resonate with the next-gen HNWI customer base. Including: Private equity and cryptocurrencies: 88% of advisors observe a greater interest in alternative assets amongst this group of investors over baby boomers New offshore booking centers: 50% of advisors indicate their lack of capabilities in emerging wealth hubs – Singapore, Hong Kong, UAE and Saudi Arabia – will drive these clients to alternate firms, as they seek diversification, better returns and a favorable regulatory environment Tailored services: concierge services such as luxury travel, medical care, and safeguarding against cyber threats, rank as the top non-financial value-added service most sought after Digital interactions: advisors rank a digital platform providing a holistic client view and actionable insights as the most important capability to effectively serve next-gen HNWIs, followed by intelligent automation of operational tasks like meeting summaries and emails Insufficient support from wealth management firms makes advisors a flight riskAccording to the report, one-in-three advisors express dissatisfaction with their firms' lack of digital capabilities, negatively impacting their productivity, and creating a technological divide. In addition, 62% of next-gen HNWIs say they would follow their advisor if they moved to a different firm. Altogether, this directly impacts retention, as advisors struggle to engage these digital-native clients. Beyond digital resources, the industry is on the cusp of a talent shortage amid an unprecedented transfer of wealth to Gen X, millennial, and Gen Z inheritors. In the next 12 months, one in four advisors plan to be on the move, with a majority transitioning to a competitor firm and a few starting their own ventures. Additionally, 20% of advisors say they will retire by 2035, with 48% planning to retire by 2040. As the great wealth transfer unfolds, the wealth management industry will need to reimagine product offerings through tailored investment options for next-gen HNWIs. Firms must empower and engage advisors with an intuitive digital experience across all channels to secure their loyalty, the report concludes. Read the full report: Sailing through the Great Wealth Transfer Report MethodologyThe World Wealth Report 2025 market-sizing model covers 71 countries, accounting for more than 98% of global gross national income and 99% of world stock market capitalization. The Capgemini 2025 Global HNW Insights Survey questioned 6,472 HNWIs including 5,473 Next-gen HNWIs across four regions: Americas, Europe, and Asia-Pacific and Middle East. The 2025 Wealth Management Executive Survey includes 141 responses across 10 markets, with representation from pure WM firms, universal banks, independent broker/dealer firms, and family offices. The 2025 Relationship Manager Survey, executed by Phronesis Partners, includes 1,306 responses across twelve markets. About CapgeminiCapgemini is a global business and technology transformation partner, helping organizations to accelerate their dual transition to a digital and sustainable world, while creating tangible impact for enterprises and society. It is a responsible and diverse group of 340,000 team members in more than 50 countries. With its strong over 55-year heritage, Capgemini is trusted by its clients to unlock the value of technology to address the entire breadth of their business needs. It delivers end-to-end services and solutions leveraging strengths from strategy and design to engineering, all fueled by its market leading capabilities in AI, generative AI, cloud and data, combined with its deep industry expertise and partner ecosystem. The Group reported 2024 global revenues of €22.1 billion. Get The Future You Want | About the Capgemini Research InstituteThe Capgemini Research Institute is Capgemini's in-house think-tank on all things digital. The Institute publishes research on the impact of digital technologies on large traditional businesses. The team draws on the worldwide network of Capgemini experts and works closely with academic and technology partners. The Institute has dedicated research centers in India, Singapore, the United Kingdom, and the United States. It was ranked #1 in the world for the quality of its research by independent analysts for six consecutive times - an industry first. Visit us at ____________________ 1 HNWIs are high-net-worth individuals with investable assets of USD1 million or more, excluding their primary residence, collectibles, consumables, and consumer durables. HNWIs are segmented into three categories based on wealth bands: Ultra-HNWIs (USD30 million or more), Mid-Tier Millionaires (USD5-30M) and Millionaires Next Door (USD1-5M). 2 Alternative investments include commodities, currencies, private equity, hedge funds, structured products, and digital assets 3 UBS, "Global Wealth Report 2024" 4 Gen X (aged 44 to 59 years as of 2025), millennial (aged 28-43 years as of 2025), and Gen Z (12 to 27 years as of 2025) inheritors are referenced as "next-gen HNWIs" to signify the generational shift in HNWI wealth View source version on Contacts Press contact: Fahd Pasha Tel.: +1 647 860 3777 E-mail: Sign in to access your portfolio
