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How to keep doing good once you’re gone

<p>Most of us like to think that once we are no longer walking the Earth, we can still leave a legacy to mark our time here and contribute positively to those left behind.</p> <p>Doing so is not only possible but, as you’ll see below, fairly straightforward – providing you do some basic preparation beforehand.</p> <p>Seek the help of professional advice to ensure your plans can be enacted in full and deliver the best possible outcomes for everyone involved.</p> <p><strong>Have your affairs in order</strong></p> <p>Make things simpler for your grieving loved ones by having your wishes clearly outlined in writing, with specific instructions that leave no room for misinterpretation. Doing so makes your wishes easier to implement, faster to enact and reduces fights among your beneficiaries.</p> <p>Keep your will and other affairs updated as circumstances change too, so that everyone you want is included (such as kids and grandkids) and those you don’t, aren’t given an unexpected windfall (such as your ex or an adult child’s ex).</p> <p><strong>Provide for everyone</strong></p> <p>Providing for everyone is not necessarily straight forward, especially if you have a blended family. </p> <p>For instance, leaving your share of your home to your children from a previous relationship could lead to disagreements if your partner doesn’t want to leave.</p> <p>Instead, think about how your assets can be divided fairly without disadvantaging anyone. Children could be nominated beneficiaries of your superannuation and/or life insurance, leaving your home for your partner. </p> <p><strong>Keep wealth flowing</strong></p> <p>Certain structures can allow you to keep giving to your descendants long after you’re gone – offsetting their income and providing far greater wealth over time than any lump sum could achieve.</p> <p>A family or testamentary trust allows ongoing wealth creation through shared assets, with regular dividends paid out, creating a family legacy that can last for generations. Or a family company can allow a commercial entity to continue trading and growing as an asset.</p> <p><strong>Manage tax impacts</strong></p> <p>Implement tax-effective strategies that maximise how much your beneficiaries actually receive and minimise what the tax man pockets. </p> <p>While there isn’t an inheritance tax per se, beneficiaries can be hit with Capital Gains Tax (CGT) on asset sales plus transfer costs to put an asset into their own name – not to mention the ongoing maintenance and compliance costs of asset ownership.</p> <p>In some instances, your loved ones may benefit more if you sell assets now and leave them the proceeds, rather than leave them the asset – and its associated tax bill – once you’re gone.</p> <p><strong>Ensure loved ones are home and housed</strong></p> <p>Property is perhaps the biggest of all sources of wealth, yet it is increasingly difficult for younger people and singles to get (and stay) on the property ladder.</p> <p>Ensure everyone can reap the benefits of property ownership over their own lifetime, either by transferring ownership of properties in your name or contributing chunks of cash towards a deposit. </p> <p>However, it’s important to do so sustainably – gifting grandkids a large property they can’t afford to maintain isn’t going to work.</p> <p><strong>Charitable donations</strong></p> <p>Many people like to support charities and social causes once they are gone. Consider the end user here and what they stand to benefit from your donation – whether it be people, planet or both.</p> <p>It could be leaving a lump sum on your death, or regular ongoing donations from your estate. You may wish to do so anonymously, or include a message with your donation outlining your reasons why that particular charity/cause is important to you and what you hope the money will go towards.</p> <p>Donations may not necessarily be financial either – perhaps you have a valuable historic artefact that others could enjoy if donated to a museum? </p> <p><strong>Organ donation</strong></p> <p>The greatest gift of all is not money but life itself. So, consider whether organ donation is something you wish to do.</p> <p>While not suitable for everyone, and dependent on a range of factors including your age, health and religious beliefs, a single organ donor can save up to seven lives, as well as improve the quality of life of numerous others through eye and tissue donation.</p> <p>That is a lot of life you can give to others – and all without costing your own loved ones a cent!</p> <p><em><strong>Helen Baker is a licensed Australian financial adviser and author of On Your Own Two Feet: The Essential Guide to Financial Independence for all Women. Helen is among the 1% of financial planners who hold a master’s degree in the field. Proceeds from book sales are donated to charities supporting disadvantaged women and children. Find out more at <a href="http://www.onyourowntwofeet.com.au/">www.onyourowntwofeet.com.au</a></strong></em></p> <p><em><strong>Disclaimer: The information in this article is of a general nature only and does not constitute personal financial or product advice. Any opinions or views expressed are those of the authors and do not represent those of people, institutions or organisations the owner may be associated with in a professional or personal capacity unless explicitly stated. Helen Baker is an authorised representative of BPW Partners Pty Ltd AFSL 548754.</strong></em></p> <p><em><strong>Image credits: Shutterstock </strong></em></p>

Retirement Income

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Readers response: What is one country you'll never go to?

<p>When it comes to travelling, everyone has a list of places they are dying to go to.</p> <p>In the same token, lots of travellers have placed they have no interest of ever seeing. </p> <p>We asked our readers what country they will never go to, and the response was overwhelming. Here's what they said. </p> <p><strong>Kathy Yeo</strong> - Saudi Arabia or any other country where women have few rights and are treated as possessions.</p> <p><strong>Irene Dodds</strong> - USA. </p> <p><strong>Jim Cormack</strong> - Indonesia, in particular Bali. </p> <p><strong>Roz Eberhard-Swan</strong> - After 132 countries, I can say that I will never return to Russia, China &amp; Cuba. And will now add Afghanistan to that list. Sadly, the USA also is now out of control with their gun laws and politics so probably unlikely to go back there either.</p> <p><strong>Carole Harris</strong> - Russia. I have been and wanted to go back, but never will now.</p> <p><strong>Kath Wilkinson</strong> - Afghanistan. Their treatment of women should turn anyone off!</p> <p><strong>Karen Ambrose</strong> - Probably America due to their pathetic gun laws.</p> <p><strong>Debra Joy </strong>- Spain. I'll never go while they still do bull fighting. Disgusting and abhorrent.</p> <p><strong>George Quinn</strong> - Egypt. Never again! After 35 countries, it's the only place I never felt safe.</p> <p><strong>Janice Brigg</strong> - Bali. Never been here and it is of no interest to us. There are so many other beautiful other places to visit. So far travelled to 58 counties.</p> <p><em>Image credits: Shutterstock</em></p>

Travel Trouble

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"Best country in the world" crowned for the third year in a row

<p>The best countries in the world have been ranked according to a new survey, with Switzerland taking out the top spot for the third year in a row. </p> <p>According to new data released by <a href="https://www.usnews.com/news/best-countries/rankings" target="_blank" rel="noopener">US News &amp; World's report</a> in its annual Best Countries rankings, the small European nation has been dubbed the "best country in the world" for 2024. </p> <p>Among the top 25 list, 15 European countries nabbed spots, east and southeast Asia claimed four spots, and the Middle East took two spots, with North America and Oceania taking two spots each. </p> <p>The ranking was made based on the views of 17,000 people, who assessed how well each nation ranked on categories including power, openness for business and cultural influence. </p> <p>At the top of the ranking was Switzerland, which has been at the top of the table nearly every year since 2017, with the report saying the country was "bolstered by notable performances in three of the heaviest-weighted subrankings: quality of life, entrepreneurship and social purpose."</p> <p>Japan claimed second spot on the list for the first time, climbing four spots from last year's ranking, for its high rankings in the entrepreneurship and movers categories. </p> <p>Australia came in fifth place this year (down from fourth in 2023), ranking high in quality of life and social purpose, while New Zealand came in ninth place (down from eighth in 2023).</p> <p>Check out the top 25 best countries list below. </p> <p>1. Switzerland</p> <p>2. Japan </p> <p>3. United Stated of America</p> <p>4. Canada</p> <p>5. Australia</p> <p>6. Sweden</p> <p>7. Germany </p> <p>8. United Kingdom</p> <p>9. New Zealand </p> <p>10. Denmark </p> <p>11. Norway</p> <p>12. France </p> <p>13. The Netherlands</p> <p>14. Singapore</p> <p>15. Italy </p> <p>16. China</p> <p>17. United Arab Emirates </p> <p>18. South Korea</p> <p>19. Spain</p> <p>20. Finland</p> <p>21. Austria</p> <p>22. Iceland </p> <p>23. Belgium </p> <p>24. Ireland </p> <p>25. Qatar</p> <p><em>Image credits: Shutterstock </em></p>

International Travel

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Country boycotts Paris Games after being stripped of medal

<p>The prime minister of Romania has vowed to boycott the closing ceremony of the Paris Olympics over what he described as “flagrant injustice” to two of the country’s gymnasts.</p> <p>Prime Minister Marcel Ciolacu has called out the "scandalous situation" surrounding Ana Barbosu and Sabrina Voinea, who both missed out on medals after the women's floor routines. </p> <p>Barbosu was initially believed to have won bronze and was beginning to celebrate the win, when the judges then adjusted the difficulty of American gymnast Jordan Chiles' routine, bumping her up into third place and sending the Romanian gymnasts into fourth and fifth position. </p> <p>The president of the country’s gymnastics federation Carmencita Constantin told AFP she would file two complaints to the Court of Arbitration for Sport after both Romanian gymnasts left the competition in tears.</p> <p>Voinea, 17, who filed an unsuccessful appeal of her own, complained she had been unfairly penalised.</p> <p>Fellow Romanian gymnastics legend Nadia Comaneci chimed in on the controversy, urging a review of Voinea’s routine, after she claimed the athlete didn’t step outside the floor surface, an act she had been punished for.</p> <p>It comes as heartbreaking new footage of Barbosu’s medal being taken away emerged, after the final scores were updated and resulted in her coming in fourth place. </p> <p>As a result, the Romanian gymnastics team, who qualified for the first time in 12 years, left Paris without a medal after coming in seventh in the team competition.</p> <p>Prime Minister Ciolacu shared his upset over the loss, saying the athletes were treated "dishonourably" and would be boycotting the closing ceremony in protest. </p> <p>“I have decided not to attend the closing ceremony of the Paris Olympics after the scandalous situation in gymnastics, where our athletes were treated in an absolutely dishonourable way,” he wrote on Facebook.</p> <p>Romania also sent a letter of protest to the International Gymnastics Federation, after it was revealed that Voinea has now quit gymnastics after the dramatic Olympics loss. </p> <p><em>Image credits: Daniela Porcelli/SPP/Shutterstock Editorial</em></p>

Travel Trouble

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Brand Olympics: do the famous rings deliver value to host countries?

<div class="theconversation-article-body"><em><a href="https://theconversation.com/profiles/steven-greenland-2064">Steven Greenland</a>, <a href="https://theconversation.com/institutions/charles-darwin-university-1066">Charles Darwin University</a> and <a href="https://theconversation.com/profiles/robert-joseph-gill-1530152">Robert Joseph Gill</a>, <a href="https://theconversation.com/institutions/swinburne-university-of-technology-767">Swinburne University of Technology</a></em></p> <p>The cost of hosting Paris 2024, the 33rd Olympics, is predicted to be <a href="https://www.reuters.com/world/europe/paris-lean-olympics-wont-blow-any-budgets-credit-rating-firm-sp-says-2024-03-11/">more than A$14 billion</a>.</p> <p>So what’s in it for the French?</p> <p>Will this oldest of sporting events shine for them, or as has happened with some previous Olympics, will it prove to be <a href="https://www.abc.net.au/news/2021-08-07/what-japan-learned-from-olympic-white-elephants/100329488">a massive white elephant</a>?</p> <h2>The power of the five rings</h2> <p>The Olympic brand is <a href="https://olympics.com/ioc/news/the-olympic-brand-maintains-its-global-strength-and-recognition">massively powerful</a> and gives the host nation a global platform to strengthen their international reputation and standing.</p> <p>The Olympic brand heritage goes back 2,800 years to southern Greece, when games were held to honour the Greek god Zeus at Olympia. Starting in 776 BC, these ancient games were held every four years and continued for more than 1,000 years.</p> <figure><iframe src="https://www.youtube.com/embed/VdHHus8IgYA?wmode=transparent&amp;start=11" width="440" height="260" frameborder="0" allowfullscreen="allowfullscreen"></iframe><figcaption><span class="caption">The Olympics began as part of a festival honouring Zeus in the rural Greek town of Olympia.</span></figcaption></figure> <p>The modern Olympics began in 1896 in Athens. Since then, the games have been hosted in 23 cities and 20 countries.</p> <p>Paris 2024 will welcome around 10,500 athletes from more than 200 countries <a href="https://olympics.com/en/paris-2024/sports">competing in 32 different sports</a>. Around <a href="https://www.euromonitor.com/press/press-releases/nov-2023/olympic-games-2024-set-to-boost-tourism-spending-in-paris-by-up-to-eur4-billion-euromonitor-international">4 billion people will watch on</a> around the globe.</p> <p>The Olympics’ five rings (<a href="https://discover.sportsengineplay.com/olympics/history-of-they-rings#:%7E:text=They%20first%20appeared%20in%201913,to%20accept%20its%20fertile%20rivalries.">created by Frenchman Pierre de Coubertin 110 years ago</a>) is one of the most recognised logos on the planet.</p> <p>It represents unity across the five continents (Africa, the Americas, Asia, Europe and Oceania).</p> <p>It is this familiarity and <a href="https://www.emerald.com/insight/content/doi/10.1108/INTR-07-2018-0324/full/html">positive Olympic brand associations</a> – which include excitement, fairness and being elite – that some argue justifies the billions spent.</p> <p>Host nations hope this Olympic sparkle rubs off on their nation’s reputation – but that’s not always the case.</p> <h2>Benefits of hosting an Olympics</h2> <p>Broadcast rights, sponsorships and advertising from organisations that want to be associated with the Olympic brand can <a href="https://olympics.com/ioc/funding">generate huge revenue streams</a>.</p> <p>The Olympic brand adds considerable value for sponsors and advertisers, and there are also benefits that France (and the world) will gain long after the event.</p> <p>Responsible marketing and attracting sponsors that complement Olympic brand values can <a href="https://www.tandfonline.com/doi/full/10.1080/0965254X.2023.2230487">promote positive, sustainable attitudes and behaviour</a>. Examples of this include promoting unity, a sense of national pride, and social and health gains from <a href="https://theconversation.com/does-sports-participation-boom-during-or-before-or-after-the-olympics-227773">increased sports participation</a>.</p> <p>The event also generates huge revenue from domestic and international tourism – 15 million spectators are anticipated for Paris 2024. Most are locals and domestic day trippers but <a href="https://www.euromonitor.com/press/press-releases/nov-2023/olympic-games-2024-set-to-boost-tourism-spending-in-paris-by-up-to-eur4-billion-euromonitor-international">around 3 million additional visitors</a> are expected in Paris during the games.</p> <p>Increased infrastructure and updated civil works as a result of the city getting ready for the Olympics provides many lifestyle benefits: a reinvigorated host city can benefit from upgraded transport, accommodation, hospitality, sports facilities and streetscapes.</p> <p>Other significant benefits relate to strengthening the host country’s geographic and cultural brand. For France, this includes reinforcing and promoting many of its registered geographic indicator products that relate mainly to wine, agricultural products and foodstuffs, as well as spirits and beers.</p> <p>Champagne is perhaps the most widely recognised geographic indicator product. It illustrates how connection to its place of origin assures consumers about regional and French cultural values and <a href="https://theconversation.com/whats-in-a-name-quite-a-lot-if-its-prosecco-parmesan-or-mozzarella-209505">the products’ characteristics and quality</a>.</p> <h2>What about the pitfalls?</h2> <p>Many Olympics have failed to turn a profit, meaning countries and citizens are <a href="https://www.tandfonline.com/doi/full/10.1080/02665433.2019.1633948">left to pay off debts</a> for decades after the event (for example, Rio, <a href="https://www.theguardian.com/cities/2016/jul/06/40-year-hangover-1976-olympic-games-broke-montreal-canada">Montreal</a>, Beijing and Athens).</p> <p>Also, many cities are left with <a href="https://theconversation.com/looking-back-at-the-olympic-venues-since-1896-are-they-still-in-use-229606">purpose-built infrastructure</a> created specifically for the games but left idle afterwards, including athlete accommodation, aquatic centres and major stadiums.</p> <p>What will determine the success of Paris 2024 and justify the massive investment in hosting the event?</p> <figure><iframe src="https://www.youtube.com/embed/_m1x5JaC37E?wmode=transparent&amp;start=0" width="440" height="260" frameborder="0" allowfullscreen="allowfullscreen"></iframe><figcaption><span class="caption">Is hosting the Olympics worth the investment?</span></figcaption></figure> <p>The success of the Olympics for the host is often determined by the financial revenue it can generate. The Olympic brand plays a significant role in generating this financial support.</p> <p>However, the brand’s reputation can be tarnished by issues leading up to and during the games, which may reduce the positive impacts.</p> <p>The Olympic brand’s reputation can be affected by issues like:</p> <ul> <li> <p>high-profile athletes and national teams cheating or doping</p> </li> <li> <p>world sporting authorities placing restrictions on competitors <a href="https://www.insidethegames.biz/articles/1143198/restrictions-transgender-paris2024-games">based on gender and status</a></p> </li> <li> <p>incompatible sponsors jumping on the Olympic bandwagon. For example, manufacturers of harmful products whose negative brand associations could tarnish the Olympic brand, such as <a href="https://www.tandfonline.com/doi/full/10.1080/0965254X.2023.2176532">soft drink and alcohol sponsors</a></p> </li> <li> <p>negative publicity associated with unethical practices of host and participating countries <a href="https://www.adweek.com/brand-marketing/sports-politics-brands-volatile-mix-olympic-games/">with human rights issues</a>. This includes others using the event to publicise these</p> </li> <li> <p>politicising the event – including “<a href="https://theconversation.com/is-saudi-arabia-using-sportswashing-to-simply-hide-its-human-rights-abuses-or-is-there-a-bigger-strategy-at-play-208468">sportswashing</a>”, protests, boycotts and image protection, as seen with <a href="https://www.tandfonline.com/doi/full/10.1080/13216597.2017.1347101">China</a>, <a href="https://www.washingtonpost.com/kidspost/2021/12/16/us-protest-olympics-is-nothing-new-politics-have-been-mixed-with-sports-decades/">the United States</a>, and <a href="https://olympics.com/ioc/news/declaration-by-the-ioc-against-the-politicisation-of-sport">Russia</a></p> </li> <li> <p>unforeseeable events – the COVID pandemic delayed the Tokyo games and <a href="https://www.reuters.com/business/media-telecom/money-money-money-cost-tokyos-pandemic-delayed-olympics-2021-06-10/#:%7E:text=Organisers%20said%20last%20December%20that,has%20risen%20to%20%243%20billion">pushed the cost to A$18 billion</a></p> </li> <li> <p>other negative associated risks for the host city such as <a href="https://theconversation.com/will-the-paris-olympics-be-a-terrorist-target-these-three-factors-could-be-key-229110">terrorism</a>, <a href="https://theconversation.com/extreme-heat-is-a-killer-for-outdoor-sporting-events-lets-plan-properly-to-keep-everyone-safe-229998">heat waves</a>, and civil unrest.</p> </li> </ul> <h2>Fingers crossed for France</h2> <p>With close to half the world watching Paris 2024, France’s National Olympic Committee will be anxiously hoping for positive outcomes to ensure a strong return on the A$14 billion invested. But since Sydney 2000, virtually every games host has suffered <a href="https://www.cfr.org/backgrounder/economi">significant financial blowouts</a>.</p> <p>For their sake, and the Olympics’ reputation, let’s hope the Paris games sparkle - or we may be left with a very limited number of potential future hosts with very deep pockets.<!-- Below is The Conversation's page counter tag. Please DO NOT REMOVE. --><img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/228497/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /><!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: https://theconversation.com/republishing-guidelines --></p> <p><em><a href="https://theconversation.com/profiles/steven-greenland-2064">Steven Greenland</a>, Professor in Marketing, <a href="https://theconversation.com/institutions/charles-darwin-university-1066">Charles Darwin University</a> and <a href="https://theconversation.com/profiles/robert-joseph-gill-1530152">Robert Joseph Gill</a>, Associate Professor in Media and Communication, Swinburne University of Technology, <a href="https://theconversation.com/institutions/swinburne-university-of-technology-767">Swinburne University of Technology</a></em></p> <p><em>Image credits: Artur Widak/NurPhoto/Shutterstock Editorial </em></p> <p><em>This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/brand-olympics-do-the-famous-rings-deliver-value-to-host-countries-228497">original article</a>.</em></p> </div>

Money & Banking

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How holidaying in developing countries affects local inequality

<p><em><a href="https://theconversation.com/profiles/alexander-tziamalis-333272">Alexander Tziamalis</a>, <a href="https://theconversation.com/institutions/sheffield-hallam-university-846">Sheffield Hallam University</a> and <a href="https://theconversation.com/profiles/yuan-wang-1360783">Yuan Wang</a>, <a href="https://theconversation.com/institutions/sheffield-hallam-university-846">Sheffield Hallam University</a></em></p> <p>A few years ago, one of us (Alex) went for a vacation to the Dominican Republic. The motivation was similar to millions of other tourists every year: escape the daily routine, enjoy the sun and beaches, and gather some strength to face another cold winter.</p> <p>Unfortunately, a few things weren’t very conducive to a happy break. The staff at the mammoth hotel were making as little as US$1 (£0.79) for a 12-hour shift. Worse, most of them lived in a shanty town nearby. They had no sewers and no reliable electricity.</p> <p>The hotel also exploited its power over local farmers to procure food exceedingly cheaply. Schools were overcrowded and many children dropped out to work in businesses like these hotels and farms, perpetuating the cycle.</p> <p>This anecdotal picture is corroborated by the country’s economic data. Despite <a href="https://data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG?locations=DO">GDP growth</a> frequently above 5% each year, the Dominican Republic suffers from <a href="https://dominicantoday.com/dr/local/2023/02/17/dominican-republic-shows-a-high-level-of-economic-inequality-in-latin-america-and-the-caribbean/">substantial inequality</a>. The wealthiest 1% capture 30% of all income, compared to 18% in the US.</p> <p>But how bad is tourism for inequality in developing countries overall? <a href="https://shura.shu.ac.uk/31942/">Our recent research</a> has sought to answer this, looking at 71 countries around the world. The picture is complicated, but the overall results are not as bleak as you might fear.</p> <h2>Upsides and downsides</h2> <p>Clearly there are pros and cons to tourism. It makes holidaymakers happy while bringing people closer and promoting awareness of other cultures. It empowers communities and provides disadvantaged groups with opportunities, from the local artisan who can sell directly to customers, to women <a href="https://blogs.worldbank.org/psd/empowering-women-through-tourism-0">who would otherwise</a> be struggling to find work.</p> <p>Tourism sustains a lot of jobs and economic value overall, making it attractive to governments as a way of boosting growth. In 2019 there were a whopping <a href="https://www.statista.com/statistics/209334/total-number-of-international-tourist-arrivals/#:%7E:text=Despite%20the%20significant%20annual%20increase,lowest%20figure%20recorded%20since%201989">1.5 billion</a> international tourist arrivals around the world. They were serviced by <a href="https://www.statista.com/statistics/1268465/number-of-travel-and-tourism-jobs-worldwide/#:%7E:text=Despite%20the%20increase%2C%20the%20number,to%20320%20million%20in%202023.">nearly 300 million</a> travel and tourism workers, and the sector generated <a href="https://wttc.org/research/economic-impact#:%7E:text=In%202022%2C%20the%20Travel%20%26%20Tourism,%2C%20only%2014.1%25%20below%202019.">over 7%</a> of global GDP.</p> <p>On the other hand, tourism can <a href="https://www.theworldcounts.com/challenges/consumption/transport-and-tourism/negative-environmental-impacts-of-tourism">degrade the environment</a>. Witness the Inca citadel of Machu Picchu in the Peruvian Andes needing to <a href="https://www.machupicchutrek.net/how-many-tourists-visit-machu-picchu-annually/">restrict</a> the number of visitors, for instance, because the site was <a href="https://storymaps.arcgis.com/stories/d2f4fc1c7b314cc8a6c8af466cec0d24">getting damaged</a>.</p> <p>Equally, <a href="https://www.itmustbenow.com/feature/our-big-questions/exploitation-travel-tourism/">tourism is associated</a> with other <a href="https://www.cntraveler.com/galleries/2015-06-19/barcelona-bhutan-places-that-limit-tourist-numbers">knock-on effects</a> such as water scarcity, pollution, crime, sex exploitation and destroying tradition.</p> <p>But what about inequality? The tourism industry <a href="https://www.itmustbenow.com/feature/our-big-questions/exploitation-travel-tourism/">is frequently associated</a> with ridiculously low wages, long hours without a break, and unhealthy conditions for live-in staff. Dedicated trade unions often don’t exist, or they’re underpowered and cannot effectively protect workers.</p> <p>Tourism can also distort the economy. <a href="https://www.theguardian.com/technology/2022/aug/10/i-wanted-my-children-to-grow-up-here-how-airbnb-is-ruining-local-communities-in-north-wales">In the UK</a> for example, communities in many popular tourist destinations cannot afford to buy a home anymore.</p> <p>Yet when you look at how tourism affects equality overall, the existing academic literature shows conflicting results. A number of studies <a href="https://www.sciencedirect.com/science/article/abs/pii/S0160738316301281#:%7E:text=Findings%20confirm%20that%20tourism%20increases%20income%20inequality%20in%20developing%20economies.&amp;text=The%20squared%20tourism%20revenue%20has%20a%20significant%20negative%20impact%20on%20income%20inequality.&amp;text=Findings%20confirm%20the%20presence%20of%20Kuznets%20curve%20hypothesis.">find that</a> it worsens income inequality, while others <a href="https://journals.sagepub.com/doi/abs/10.1177/0047287520954538">find the opposite</a>.</p> <p>If you were wondering about the Dominican Republic, there’s <a href="https://journals.sagepub.com/doi/abs/10.1177/0047287518789272#:%7E:text=The%20results%20showed%20that%20income,in%20the%20distribution%20of%20wealth.">a study</a> showing that tourism actually has a negligible impact on inequality.</p> <h2>Our findings</h2> <p>Ours is the first study to <a href="https://journals.sagepub.com/doi/10.1177/13548166231177106">look at the effect</a> of a few potential determining factors to try and gain a deeper understanding of the relationship between tourism and equality. These factors include the country’s level of economic and financial development, inflation rate and government policies seeking to redistribute wealth.</p> <p>Our dataset spans from 1996–2016. We would have ideally looked at even more than 71 countries, but others had to be excluded because good-quality data was unavailable.</p> <p>We found that tourism eased income inequality in lower income countries when it went hand in hand with redistributive policies. <a href="https://webcache.googleusercontent.com/search?q=cache:6nbn68M3_toJ:https://dailynews.co.tz/how-tz-could-attract-more-tourists/&amp;cd=8&amp;hl=en&amp;ct=clnk&amp;gl=uk">Tanzania, for example,</a> gets 17% of its GDP from tourism. This has enabled the country to <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8121963/">significantly increase</a> its spending on health, education and infrastructure.</p> <p>In wealthier countries, the opposite was counterintuitively the case: increasing tourism exacerbated inequality when combined with redistributive policies.</p> <p>It may be that in places where education and infrastructure are already at high levels, improving them has less effect on inequality. Or it may be that improving the welfare system reduces workers’ incentive to upskill and seek better paid jobs in other sectors. These possibilities need further investigation.</p> <p>Our analysis also highlighted the importance of financial opportunities such as broad access to bank credit. All countries with more inclusive financial systems comparatively reduced inequality when they brought in more tourists.</p> <p>It might be that financial access enables a broader cross-section of entrepreneurs to set up or expand tourist businesses, with knock-on benefits to their communities. This is bad news for developing countries like India, Brazil South Africa and Barbados, where <a href="https://www.worldbank.org/en/news/press-release/2015/09/14/long-term-finance-shortage-post-2008-crisis-blunts-progress-in-developing-countries">it’s difficult</a> to obtain long-term loan, which usually come with onerous terms.</p> <p>Having said that, the benefits from financial access were more marked in developed countries. In such countries, it may be that this galvanises proportionately more entrepreneurs because they are not being held back to the same extent by other problems like corruption and poor education.</p> <p>When we looked at the effect of inflation, it worsened inequality in richer countries <a href="https://www.niesr.ac.uk/blog/unequal-impact-rising-inflation">like the UK</a> as tourism increases. We suspect that when inflation takes off in wealthier countries, it’s more difficult for tourism workers to renegotiate their wages quickly because employment contracts are more formal.</p> <p>Equally, poorer countries are often more used to higher inflation, so workers may be more adept at such negotiations.</p> <p>So overall, it’s not possible to say that increasing tourism widens or reduces inequality – it very much depends on other factors. But clearly tourism can be good news for inequality in poorer countries when it’s combined with redistributive policies and financial inclusion.</p> <p>This certainly won’t solve problems like worker exploitation across the board, but it does mean that holidaying in developing countries will often be helping them to become more equal over time.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/208690/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /></p> <p><a href="https://theconversation.com/profiles/alexander-tziamalis-333272"><em>Alexander Tziamalis</em></a><em>, Senior Lecturer in Economics, <a href="https://theconversation.com/institutions/sheffield-hallam-university-846">Sheffield Hallam University</a> and <a href="https://theconversation.com/profiles/yuan-wang-1360783">Yuan Wang</a>, Seinor Lecturer in Economics, <a href="https://theconversation.com/institutions/sheffield-hallam-university-846">Sheffield Hallam University</a></em></p> <p><em>Image credits: Shutterstock </em></p> <p><em>This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/how-holidaying-in-developing-countries-affects-local-inequality-208690">original article</a>.</em></p>

Travel Trouble

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Country singer dies aged 79

<p>Country singer Kinky Friedman has passed away aged 79. </p> <p>A post shared on his social media account confirmed the news that he was surrounded by family and friends before his death. </p> <p>“Kinky Friedman stepped on a rainbow at his beloved Echo Hill surrounded by family and friends,” the post read. </p> <p>“Kinkster endured tremendous pain and unthinkable loss in recent years but he never lost his fighting spirit and quick wit. Kinky will live on as his books are read and his songs are sung.”</p> <p>The musician, whose real name is Richard Samet Friedman, developed a cult following for his unique and quirky approach to country and Western music. </p> <p>His first album <em>Sold American</em> was released in 1973, and he also toured with Bob Dylan on his Rolling Thunder Revue. </p> <p>Outside of his music career, Friedman was also a writer, penning detective novels and a working as a columnist for Texas Monthly.</p> <p>He published his first book <em>Elvis, Jesus and Coca-Cola: A Novel </em>in 1994 and ten years later published his second one, <em>Kinky Friedman’s Guide to Texas Etiquette: Or How to Get to Heaven or Hell Without Going Through Dallas-Fort Worth</em>.</p> <p>In 2006 he dabbled in politics, running for the Governor of Texas and received 12.6 per cent of the votes among six candidates. </p> <p>He also helped run the Echo Hill Gold Star Camp for children, with his sister Marcie. </p> <p>Kent Perkins, a longtime friend of Friedman, paid tribute to the musician on social media. </p> <p>“Somewhere in heaven,” he wrote, “I’m sure there’s a quiet corner with a big easy chair, a bright floor lamp, a big stack of biographical books, and a few old dogs wagging their tails to the faint smell of cigar smoke.”</p> <p><em>Image: Rick Diamond/ Shutterstock Editorial</em></p> <p> </p>

Caring

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Commonly overlooked estate planning matters

<p>Estate planning is a complex business, making it easy to overlook some important considerations, potentially with costly results.</p> <p>Aside from basic issues like forgotten assets (always keep written records) and inaccurate details (double check everything before signing), seven of the most commonly disregarded estate planning matters are as follows:</p> <ol> <li><strong>Wills</strong></li> </ol> <p>Unlike many younger people, for over sixties the more common issue is not the lack of a will, but one which is out of date.</p> <p>Out-of-date wills complicate matters for executors, can delay probate for your beneficiaries, and may not reflect your true wishes (imagine inadvertently leaving everything to your ex or omitting one or more grandkids!).</p> <p>Update your will as your circumstances change – relationships (divorce, new partner etc), births and deaths, adult children getting married or divorced, exiting a business, asset sales, and so on.</p> <p>Retirement often brings its own changes too – e.g. a sea or tree change, new boat or caravan – which also should be updated in your will.</p> <ol start="2"> <li><strong>Letter of wishes</strong></li> </ol> <p>Wills are typically not read until after a funeral. As such, a letter of wishes is a useful addition for loved ones to have accessible immediately after your death.</p> <p>It can cover everything from funeral arrangements, burial vs cremation, and where you wish to be laid to rest to outlining intentions longer term, such as how any underage children are to be raised and educated, or care arrangements for any pets.</p> <ol start="3"> <li><strong>Super beneficiaries</strong></li> </ol> <p>One of the biggest myths about superannuation is that it is covered by your will. </p> <p>Super is treated separately, meaning you must nominate your beneficiaries within your super fund. And update them as circumstances change.</p> <p>This can be useful for blended families – leaving your super to children/grandchildren from a past relationship without encroaching on the assets of your current partner.</p> <p>Without nominating beneficiaries, the funds could go somewhere else entirely – even to government coffers.</p> <ol start="4"> <li><strong>Advanced Health Directive (a ‘living will’)</strong></li> </ol> <p>Estate planning doesn’t just cover your wishes once you’re gone. Yet people often focus solely on this aspect and overlook how they want to be looked after in the event of ill health or injury preventing them from being able to make decisions (e.g. stroke, terminal illness, severe accident).</p> <p>An Advanced Health Directive can express your wishes and values on everything from life support and resuscitation to palliative care, medical treatments, and who you wish to be able to speak on your behalf. </p> <ol start="5"> <li><strong>Insurances</strong></li> </ol> <p>Rarely do people have adequate insurance coverage for their needs.</p> <p>There are insurances in super, which may cover death and permanent disability. Insurance of assets. Income protection insurance. And health insurance.</p> <p>It’s important to right-size your insurance for your current needs and adapt that cover as your circumstances change. That means:</p> <ul> <li>Taking out new policies for new assets and investments.</li> <li>Updating policy inclusions and exclusions, such as relating to age.</li> <li>Cancelling insurances you no longer need (e.g. sold assets or professional indemnity once you retire).</li> </ul> <ol start="6"> <li><strong>Tax implications</strong></li> </ol> <p>Because Australia has no inheritance tax, many people are lulled into a false sense of complicity over tax implications in estate planning matters.</p> <p>However, beneficiaries can be liable for both Capital Gains Tax and income tax on inherited assets – potentially outweighing the value of those assets altogether.</p> <p>Additionally, your own tax status should be considered. For instance, you may be paying more tax by holding an income-producing asset rather than transferring ownership to a loved one before you pass away.</p> <ol start="7"> <li><strong>Tailored professional advice</strong></li> </ol> <p>DIY will kits, self-titled “expert” authors, and avoiding advisers to save money overlook the true value of tailored, professional advice given the complexity of estate planning.</p> <p>You don’t know what you don’t know, meaning the margin for error is huge. And when it comes to money, tax and estate law, errors can be expensive indeed.</p> <p>A good lawyer, accountant and financial adviser can more than pay for themselves by helping you avoid overpaying taxes, complex legal disputes, insufficient asset protections and lost wealth creation opportunities.</p> <p>And given estate planning is ultimately about peace of mind, can you – or your family – really afford to overlook such valuable insight?</p> <p><em>Image credits: Shutterstock</em></p> <p><em><strong>Helen Baker is a licensed Australian financial adviser and author of On Your Own Two Feet: The Essential Guide to Financial Independence for all Women. Helen is among the 1% of financial planners who hold a master’s degree in the field. Proceeds from book sales are donated to charities supporting disadvantaged women and children. Find out more at <a href="http://www.onyourowntwofeet.com.au/">www.onyourowntwofeet.com.au</a> </strong></em></p> <p><em><strong>Disclaimer: The information in this article is of a general nature only and does not constitute personal financial or product advice. Any opinions or views expressed are those of the authors and do not represent those of people, institutions or organisations the owner may be associated with in a professional or personal capacity unless explicitly stated. Helen Baker is an authorised representative of BPW Partners Pty Ltd AFSL 548754.</strong></em></p>

Legal

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Yoko Ono selling John Lennon's New York home for first time in 50 years

<p>For the first time in 50 years, the house where John Lennon and Yoko Ono lived in New York City has hit the market.</p> <p>The brick, bluestone and terra cotta structure at 496 Broome St. was the first home the pair bought together in New York City before they moved to the Upper West Side of Manhattan. </p> <p>Yoko Ono has held onto the property since she first bought it with the late Beatles member, and has now listed it with her son with JLL Real Estate, for an asking price of $US5.5 million ($8.23m AUD).</p> <p>“The building on Broome St. was sort of like a base for their artistic ventures,” Philip Norman, author of “John Lennon: The Life,” told the <em><a href="https://nypost.com/2024/05/21/real-estate/yoko-ono-lists-former-nyc-home-for-5-5m/" target="_blank" rel="noopener">New York Post</a></em>. “Bank Street was their salon, where people could just walk in.”</p> <p>First built in 1885, the two-storey building has an open-plan format, with a gallery-like ground floor space with 14.4-foot-high ceilings, an open kitchen and a lofted bedroom.</p> <p>On the second floor, there’s a live-work space and a recording studio.</p> <p>“496 Broome St. is both a unique piece of New York history and popular culture and a prime investment opportunity for the right buyer,” said Paul Smadbeck, who holds the listing.</p> <p>“Versatile zoning and its location in one of the city’s most desirable and trendsetting neighbourhoods offers an exciting opportunity to create a one-of-a-kind property.”</p> <p><em>Image credits: Mediapunch / JLL Real Estate </em></p>

Real Estate

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Riley Keough fights Graceland foreclosure sale

<p>Elvis Presley's granddaughter Riley Keough has taken legal action against a company's plan to publicly auction Graceland estate in Memphis county, after she accused them of providing "fraudulent" documents. </p> <p>A public notice for a foreclosure sale of the 13-acre estate was posted in early May said that Promenade Trust, the company which controls the Graceland museum, owed $US3.8 million ($5.7 million) after failing to repay a 2018 loan.</p> <p>Keough's late mother, Lisa Marie Presley, allegedly signed the deed of trust and used Graceland as collateral. </p> <p>Naussany Investments and Private Lending, a Missouri-based company who managed the loan, claims that Lisa Marie failed to repay the loan. </p> <p>A public auction for the estate had been scheduled for Thursday this week, but a judge has blocked the sale after Keough sought a temporary restraining order and filed a lawsuit. </p> <p>In the lawsuit, Keough asserts that her mother never borrowed any money, and alleged that Lisa Marie’s signatures were forged and that Naussany Investments isn’t even a legitimate company.</p> <p>"Lisa Maria Presley never borrowed money from Naussany Investments and never gave a deed of trust to Naussany Investments," Keough's lawyer wrote in a lawsuit.</p> <p>“These documents are fraudulent.</p> <p>“Furthermore, the notary listed on the documents denies notarising Lisa Marie’s signature or ever meeting her.”</p> <p>A source told <em>The New York Post</em> that Keough is “traumatised” at what has unfolded and “never thought that a historic piece of property could even be considered to go into the hands of any random stranger”.</p> <p>An injunction hearing is set for Wednesday. </p> <p>Elvis bought the Graceland estate in 1957. After his death in 1977, his daughter Lisa Marie Presley inherited it and opened it up as a public museum five years later. After her death last year, her daughter Riley Keough became the heir. </p> <p><em>Image: Carl Timpone/BFA.com/ Shutterstock Editorial</em></p> <p> </p>

Legal

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Airbnb launches real-life "Up" house - and it actually floats!

<p>Airbnb is taking its latest listing to the sky - literally. </p> <p>The accommodation provider has announced a partnership that will see the iconic house from Pixar's hit film <em>Up</em> being lifted into the air, balloons and all. </p> <p>In their ongoing quest to redefine hospitality, Airbnb has launched a permanent category called “Icons,” which features partnerships with brands and celebrities that promise unforgettable experiences.</p> <p>Suspended over the New Mexico desert with the aid of a crane, the property looks like an exact replica of the home and contains adorable easter eggs from the film - including the Adventure Book. </p> <p>“Icons take you inside worlds that only existed in your imagination — until now,”  Airbnb CEO and co-founder Brian Chesky said in a statement.</p> <p>“As life becomes increasingly digital, we’re focused on bringing more magic into the real world … we’ve created the most extraordinary experiences on Earth." </p> <p>The house offers a stunning view of the desert, which you can enjoy while sitting on replica's of Ellie and Carl's chairs or have breakfast with a view in the kitchen. </p> <p>Alternatively, you could look at the stars while sitting on the front porch - but don't look down because the adventure is out there. </p> <p>Of course there are questions about the logistics of the stay, including plumbing and electricity, but the accommodation giant has assured that the house is “fully functional,” connected to generators and utilities that will be seamlessly managed before and after its flight.</p> <p>Other fantastical listings include a replica of the mansion from the “X-Men ’97” cartoon, a stay at the Ferrari Museum in Italy, and Prince's house that was featured in the legendary film <em>Purple Rain</em>. </p> <p>Check out the <a href="https://www.airbnb.com.au/rooms/1126185893236246260?_set_bev_on_new_domain=1715826165_M2NkZDdkODdhMjcy&amp;source_impression_id=p3_1715826166_A20M4770EGAtl8AV&amp;modal=PHOTO_TOUR_SCROLLABLE" target="_blank" rel="noopener"><em>Up</em></a> listing here, be warned the sweet listing may make you shed a tear or two. </p> <p><em>Images: Airbnb</em></p>

Real Estate

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World's most expensive house up for sale

<p>A French chateau, once owned by a member of the Rothschild family and, later on, the King of Morocco, has gone up for sale with a £363 million (AU$699) price tag. </p> <p>Chateau d’Armainvilliers located at Seine-et-Marne, 48km east of the Eiffel Tower, is the world's most expensive home. </p> <p>Built upon the foundations of a 12th century castle, the sprawling mansion boasts 1,000 hectares of land, 100 rooms across 2,500 square metres of living space, a private lake, and plenty of sequoia trees - the largest trees in the world. </p> <p>Ignace Meuwissen, a self-acclaimed "real estate advisor to the global elite" described the property as a display of "opulence and grandeur".</p> <p>"It is the most expensive castle in France and perhaps in the world. The price of €425million is justified by the property itself but also by the 1,000 hectare land which offers numerous possibilities," he told Paris Match magazine. </p> <p>"An investor could build thousands of apartments there if he wanted."</p> <p>The chateau was first bought by the Rothschild banking empird in the late 19th century, before King Hassan II of Morocco bought it in the 1980s. </p> <p>He then made the chateau more fit for a king, adding a hammam spa, a beauty and hairdressing salon, and a fully-equipped medical and dental facility.</p> <p>The Moroccan King  also added a basement level, which has a network of tunnels, kitchens, cold rooms, storage spaces and staff quarters.</p> <p>The lucky owner will also find Moroccan mosaics and wall tiles decorating the home, and for any avid equestrians, the home also has a stable big enough for 50 horses. </p> <p>However, some luxury property agents have expressed their doubts on whether the property would sell with its nine-figure sum, with one saying it was an "unrealistic" price tag. </p> <p>"It doesn’t make sense, it’s absurd Properties of this type could sell for 20-25 million, or even 30 million if we really fall in love with them. I’m not even sure that Vaux-le-Vicomte (a Baroque French château), which has no marketing plans, would sell at this price," one agent told French real estate publication <em>Le Figaro Immobilier</em>.</p> <p>Others were unsure whether the changes made by the King in the 1980s would suit modern tastes. </p> <p><em>Images: Whisper Auctions</em></p>

Real Estate

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The worst country for pickpockets revealed

<p dir="ltr">When it comes to travelling abroad, there are always different rules to abide by in order to have a stress-free holiday experience. </p> <p dir="ltr">Common sense is a huge key player in staying safe while travelling, with holiday goers often taking extra precautions to keep themselves and their belongings safe in foreign countries. </p> <p dir="ltr">However, there will always be sneaky people who prey on tourists, with these pickpockets having the power to turn a holiday potentially disastrous. </p> <p dir="ltr">While lots of savvy travellers will share their stories about a particular city and a close call they encountered on their journeys, a new survey has proven which European cities are the worst for pickpocketing. </p> <p dir="ltr">Travel insurance experts at <a href="https://www.quotezone.co.uk/presszone/european-pickpocketing-index-top-tourist-destinations-to-watch-out-for">Quotezone</a> have compiled a list of the top 10 cities tourists (as well as locals) are likely to be pickpocketed while travelling around Europe, based on customer feedback and complaints. </p> <p dir="ltr">Italy has come in at the top spot, with the major cities reporting the biggest number of theft complaints in comparison to any other European countries. </p> <p dir="ltr">Tourists named hotspots such as the Colosseum, Trevi Fountain and the Pantheon in Rome, as well as the Duomo di Milano in Milan and the Gallerie Degli Uffizi in Florence as places they were targeted by pickpockets. </p> <p dir="ltr">Coming in at second place was France, with major tourist hotspots in Paris all being named as places to be wary of pickpockets. </p> <p dir="ltr">Greg Wilson, Founder and CEO of Quotezone.co.uk, said that unfortunately this new research shows that thousands of people have complained about pickpockets in Europe while experiencing the best that European holiday destinations have to offer.</p> <p dir="ltr">He said, “Theft can happen anywhere and tourist hotspots are convenient places for criminals to target holidaymakers’ wallets and purses whilst they are busy taking in the sites.”</p> <p dir="ltr">“It is essential always to remain vigilant, leave valuables, like expensive jewellery, in a safe in the hotel and always travel with a secure cross-body bag with zips to secure phones and wallets or even a money belt.”</p> <p dir="ltr">Check out the entire top ten list of destinations with the highest pickpocketing rates below. </p> <p dir="ltr">10. Poland</p> <p dir="ltr">9. Ireland </p> <p dir="ltr">8. Turkey </p> <p dir="ltr">7. Portugal </p> <p dir="ltr">6. Spain </p> <p dir="ltr">5. Greece</p> <p dir="ltr">4. Germany</p> <p dir="ltr">3. The Netherlands </p> <p dir="ltr">2. France </p> <p dir="ltr" role="presentation">1. Italy</p> <p dir="ltr"><em>Image credits: Getty Images </em></p>

Travel Trouble

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The world's most promiscuous countries revealed

<p>An analysis of the world's sexual habits has revealed the top 10 most promiscuous countries in the world and Turkey came in first. </p> <p>The average Turk has slept with more than 14 people according to the World Population Review, with Australia coming in a close second with the average Aussie having slept with more than 13 people, according to the <em>New York Post</em>. </p> <p>“The average number of sexual partners can vary significantly from country to country, as cultural norms can have a significant impact on the number of people someone has sex with,” the website declared. </p> <p>Their figures were based on a compilation of “datasets from multiple third party sources.”</p> <p>Turkey's top spot may be surprising to some, with most residents being muslim and the country is widely conceived to have traditional views when it comes sex and relationships. </p> <p>New Zealand came in at third, with a similar number to Australia,  followed by Iceland and South Africa. </p> <p>Countries thought to have more liberal views on sex, such as Brazil and France, were lower down the list, with the average Brazilian sleeping with nine people putting them in 25th place, while France clocked in 29th position. </p> <p>The United States clocked in 13th place, with Americans sleeping with an average of 10.7 people. </p> <p><strong>Here's the Top 10 most promiscuous countries:</strong></p> <p>1. Turkey (14.5 people)</p> <p>2. Australia (13.3)</p> <p>3. New Zealand (13.2)</p> <p>4. Iceland (13.0)</p> <p>5. South Africa (12.5)</p> <p>6. Finland (12.4)</p> <p>7. Norway (12.1)</p> <p>8. Italy (11.8)</p> <p>9. Sweden (11.8)</p> <p>10. Switzerland (11.1)</p> <p><em>Image: Getty</em></p> <p> </p>

International Travel

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Most expensive countries to retire in revealed

<p dir="ltr">Australia has become one of the most expensive countries in the world to spend your retirement, with experts sharing how much we need to retire comfortably. </p> <p dir="ltr">Australia is now regarded as the world's seventh most expensive place to retire, and is also a major target for scammers, given the country’s superannuation initiative. </p> <p dir="ltr">Swedish loan broking group Sambla calculated Australians need at least $640,911 to retire comfortably, with this hefty amount one of the biggest in the world. </p> <p dir="ltr">Australia's 4.1 per cent inflation rate is also higher than most of the rich world, which means a retiree would need $34,221 a year to survive, provided they aren't renting.</p> <p dir="ltr">Australia is also a target for scammers, having $3.6trillion in superannuation savings, or the fourth highest pool in the world.</p> <p dir="ltr">In comparison, Switzerland has been named the most expensive place in the world to retire, requiring $927,034 in retirement savings to grow old in the Alps, translating into annual costs of $46,632.</p> <p dir="ltr">Check out the entire top ten list of most expensive countries to retire below. </p> <p dir="ltr">10. France. $583,950 in retirement savings required</p> <p dir="ltr">9. Austria. $598,434 in retirement savings required</p> <p dir="ltr">8. Iceland. $607,558 in retirement savings required</p> <p dir="ltr">7. Australia. $640,911 in retirement savings required</p> <p dir="ltr">6. Canada. $665,752 in retirement savings required</p> <p dir="ltr">5. Liechtenstein. $772,984 in retirement savings required</p> <p dir="ltr">4. Singapore. $773,456 in retirement savings required</p> <p dir="ltr">3. Qatar. $791,029 in retirement savings required</p> <p dir="ltr">2. Monaco. $795,431 in retirement savings required</p> <p dir="ltr" role="presentation">1. Switzerland. $927,035 in retirement savings required</p> <p dir="ltr"><em>Image credits: Getty Images </em></p>

Retirement Life

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Country music star dies at age 62

<p>Country music singer Toby Keith has died at the age of 62 after an 18-month battle with stomach cancer. </p> <p>A statement was posted to the musician's website confirming his passing, saying, "Toby Keith passed peacefully last night on February 5th, surrounded by his family." </p> <p>"He fought his fight with grace and courage. Please respect the privacy of his family at this time."</p> <p>Country music icon Dolly Parton led the tributes to the late star shortly after the news of his death broke. </p> <p>Taking to Instagram, she wrote, "It's always hard when we lose our brothers and sisters in country music."</p> <p>"Toby Keith was one of the greats in every way. He will be missed but his music and legacy will live on. Love Dolly."</p> <p>Musician Carrie Underwood also shared a post to her more than 13 million followers on Instagram, calling him a "a true blue cowboy".</p> <p>"Saddle up the horses, Jesus, 'cause a true blue COWBOY just made his ride up to heaven!!!" she wrote.</p> <p>"We're gonna miss you, Toby, but my heart has no doubt that you are standing in the presence of our King right now!!! See you again someday, friend."</p> <p><em>Image credits: Getty Images </em></p>

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The best countries for food lovers to visit

<p dir="ltr">When it comes to travelling, one of the best things about exploring a new place is sampling the local cuisine. </p> <p dir="ltr">From cafes adored by locals and the best of fine dining, to charming markets and unassuming but delicious street food, discovering a country’s culture through their food is one of the best ways to immerse yourself in all the world has to offer. </p> <p dir="ltr">According to TripAdvisor’s 2024 Traveller's Choice Awards, some cities are better than others for foodies, with their top ten list showcasing the best destinations for lovers of food. </p> <p dir="ltr">Coming in hot in the number one spot for foodies to visit is the city of Hanoi, situated in the north of Vietnam. </p> <p dir="ltr">With a plethora of street food, fresh markets, and hole-in-the-wall restaurants, you won't be leaving hungry in this popular tourist destination. </p> <p dir="ltr">The national dish of Vietnam, a noodle soup called Pho, is a speciality for visitors to fall in love with, and compare between the hundreds of restaurants that offer the delicious meal. </p> <p dir="ltr">Other foods to try there include banh mi, rice pancakes, and Bun cha, or Vietnamese meatballs.</p> <p dir="ltr">Check out the entire top 10 list of foodie destinations below. </p> <p dir="ltr">10. Phuket, Thailand </p> <p dir="ltr">9. Lisbon, Portugal </p> <p dir="ltr">8. New Orleans, Louisiana, USA</p> <p dir="ltr">7. Barcelona, Spain</p> <p dir="ltr">6. New Delhi, India </p> <p dir="ltr">5. Florence, Italy</p> <p dir="ltr">4. Cusco, Peru</p> <p dir="ltr">3. Crete, Greece</p> <p dir="ltr">2. Rome, Italy</p> <p dir="ltr" role="presentation">1. Hanoi, Vietnam</p> <p dir="ltr"><em>Image credits: Getty Images</em></p>

International Travel

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Escape to the Country host dies aged 50

<p>British TV presenter Jonnie Irwin has passed away aged 50 following a battle with terminal cancer. </p> <p>Irwin was diagnosed with terminal cancer in 2020, when the disease spread from his lungs to his brain. </p> <p>He was initially given just six months to live, but managed to defy the odds and made his illness public after two years of keeping it a secret. </p> <p>The TV presenter rose to fame in the UK for his roles on shows including <em>A Place in the Sun </em>and <em>Escape to the Country</em>. </p> <p>A statement was shared to Instagram on Friday announcing his death, where he was described as "a truly remarkable soul." </p> <p>"It is with heavy hearts that we share the news of Jonnie’s passing," the statement began. </p> <p>"A truly remarkable soul, he fought bravely against cancer with unwavering strength and courage. Jonnie touched the lives of so many with his kindness, warmth, and infectious spirit."</p> <p>“At this time, we kindly ask for the privacy of Jonnie’s family as they navigate through this profound loss," the statement continued. </p> <p>“Their grief is immeasurable, and your thoughts, prayers, and support are deeply appreciated. As we remember the beautiful moments shared with Jonnie, let us celebrate a life well-lived and a legacy that will forever be etched in our hearts.”</p> <p>“Jonnie may be gone from our sight, but his love, laughter, and memories will live on. Rest in peace, dear Jonnie. You will be dearly missed, but never forgotten.”</p> <blockquote class="instagram-media" style="background: #FFF; border: 0; border-radius: 3px; box-shadow: 0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width: 540px; min-width: 326px; padding: 0; width: calc(100% - 2px);" data-instgrm-captioned="" data-instgrm-permalink="https://www.instagram.com/p/C22vrMPCwmB/?utm_source=ig_embed&amp;utm_campaign=loading" data-instgrm-version="14"> <div style="padding: 16px;"> <div style="display: flex; flex-direction: row; align-items: center;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;"> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;"> </div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;"> </div> </div> </div> <div style="padding: 19% 0;"> </div> <div style="display: block; height: 50px; margin: 0 auto 12px; width: 50px;"> </div> <div style="padding-top: 8px;"> <div style="color: #3897f0; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: 550; line-height: 18px;">View this post on Instagram</div> </div> <div style="padding: 12.5% 0;"> </div> <div style="display: flex; flex-direction: row; margin-bottom: 14px; align-items: center;"> <div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(0px) translateY(7px);"> </div> <div style="background-color: #f4f4f4; height: 12.5px; transform: rotate(-45deg) translateX(3px) translateY(1px); width: 12.5px; flex-grow: 0; margin-right: 14px; margin-left: 2px;"> </div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(9px) translateY(-18px);"> </div> </div> <div style="margin-left: 8px;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 20px; width: 20px;"> </div> <div style="width: 0; height: 0; border-top: 2px solid transparent; border-left: 6px solid #f4f4f4; border-bottom: 2px solid transparent; transform: translateX(16px) translateY(-4px) rotate(30deg);"> </div> </div> <div style="margin-left: auto;"> <div style="width: 0px; border-top: 8px solid #F4F4F4; border-right: 8px solid transparent; transform: translateY(16px);"> </div> <div style="background-color: #f4f4f4; flex-grow: 0; height: 12px; width: 16px; transform: translateY(-4px);"> </div> <div style="width: 0; height: 0; border-top: 8px solid #F4F4F4; border-left: 8px solid transparent; transform: translateY(-4px) translateX(8px);"> </div> </div> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center; margin-bottom: 24px;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 224px;"> </div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 144px;"> </div> </div> <p style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0; margin-top: 8px; overflow: hidden; padding: 8px 0 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;"><a style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none;" href="https://www.instagram.com/p/C22vrMPCwmB/?utm_source=ig_embed&amp;utm_campaign=loading" target="_blank" rel="noopener">A post shared by Jonnie Irwin (@jonnieirwintv)</a></p> </div> </blockquote> <p>Following his death, BBC have paid tribute to the fallen host and described him as an “extraordinary man and wonderful presenter”.</p> <p>“He brought such warmth and fun to Escape To The Country where he was a firm favourite with not just viewers, but the production team too," head of BBC daytime Rob Unsworth said.</p> <p>“More recently, he did some truly inspirational reports for <em>Morning Live</em> about his illness, tackling taboos around end-of-life care and wonderfully demonstrating the limitless positivity that he brought to everything he did.”</p> <p>Irwin’s longtime co-star Jasmine Harman, also shared a tribute on Instagram.</p> <p>“I have never admired you more than over the last few years as you’ve faced life with cancer with positivity, determination and bloody mindedness,” she wrote. “The world is a little darker today without you, but I will always smile when I think of you.” </p> <p>Irwin is survived by his wife Jessica and their three children, Rex, five and three-year-old twins Rafa and Cormac.</p> <p><em>Image: Instagram</em></p> <p> </p>

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The world’s least visited countries revealed

<p dir="ltr">The world’s least visited countries have been revealed for those who like their holidays to be well and truly off the grid. </p> <p dir="ltr">These 10 countries should be on the travel bucket lists of those who prefer to be away from everyone and everything, and who revel in a crowd-free getaway. </p> <p dir="ltr">According to the <a href="https://worldpopulationreview.com/country-rankings/least-visited-countries" target="_blank" rel="noopener">United Nations World Tourism Organisation</a> 2023 report, these ten countries welcome very few tourists for a range of logistic reasons. </p> <p dir="ltr">Some of these remote countries are lying in hard-to-reach corners of the globe, while others are just “too small to host vast numbers of tourists”. </p> <p dir="ltr">However, they're all worth the effort for a traveller after a certain kind of holiday, as they offer golden beaches, crystal clear waters and blissful isolation. </p> <p dir="ltr">The country that came in at number one, as the least visited country in the world, was the country of Tuvalu, which welcomes just 3,700 annual visitors. </p> <p dir="ltr">Tuvalu is located 1,000km north of Fiji in the west-central Pacific Ocean, just below the equator. </p> <p dir="ltr">The three coral islands and six atolls that make up the country have a total land mass of around 10 square miles, making it the fourth-smallest country in the world. </p> <p dir="ltr">Sadly, the future of Tuvalu is uncertain, as the small country is expected to be a victim of climate change, with rising sea levels putting the country and its residents in danger. </p> <p dir="ltr">Tuvalu is also tricky to reach, with no direct international flights, and only three flights a week running to the island from Fiji. </p> <p dir="ltr">Here is the full top 10 list of the least visited countries in the world. </p> <p dir="ltr">10. Guinea-Bissau. Annual visitors: 52,000</p> <p dir="ltr">9. Comoros. Annual visitors: 45,000</p> <p dir="ltr">8. São Tomé and Príncipe. Annual visitors: 34,900</p> <p dir="ltr">7. Solomon Islands. Annual visitors: 29,000</p> <p dir="ltr">6. Montserrat. Annual visitors: 19,300</p> <p dir="ltr">5. Micronesia. Annual visitors: 18,000</p> <p dir="ltr">4. Kiribati. Annual visitors: 12,000</p> <p dir="ltr">3. Niue. Annual visitors: 10,200</p> <p dir="ltr">2. Marshall Islands. Annual visitors: 6,100</p> <p dir="ltr">1. Tuvalu. Annual visitors: 3,700</p> <p dir="ltr"><em>Image credits: Getty Images / Shutterstock</em></p>

International Travel

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Princess Diana's childhood home up for rent

<p>The house Princess Diana spent her childhood and teenage years in is now available for the public to rent. </p> <p>Althorp House, located in West Northamptonshire in England, is owned by Diana's brother Earl Spencer, who has lived on the sprawling property as custodian of the estate since 1992. </p> <p>The expansive property has been listed for royal fans with deep pockets to rent on <a href="https://www.elysian-estates.co.uk/althorp/" target="_blank" rel="noopener">Elysian Estates</a>, an upmarket equivalent of Airbnb.</p> <p>Althorp House, which is a 90 minute drive out of London, was built in 1508 and has been in the Spencer family for 19 generations.</p> <p>Lady Diana lived in the 90-room stately home for most of her childhood and teenage years, before she married the then-Prince Charles in 1981.</p> <p>Not just one grand property, the estate covers 13,000 acres of countryside as it encompasses cottages, farms, woodlands and villages, which are open to visitors but only at certain times of the year.</p> <p>Now, the home is once again available to rent via Elysian Estates.</p> <p>"Althorp offers unparalleled levels of service, privacy and luxury to rival the finest properties anywhere in the world; yet retains the truly welcoming and homely feel that makes Althorp so special," the listing says.</p> <p>"Walk in the footsteps of kings and queens, feast or celebrate in spectacular surroundings, marvel at the sense of history and artwork, and slumber in pure luxury."</p> <p>In the main house, there are six state bedrooms to choose from offering "a level of opulence befitting royalty, with these very rooms playing as much a part of English history as any royal palace".</p> <p>Prices for the rental are not yet publicly available as an enquiry must be sent to reserve the opulent property.</p> <p>The listing stated that the stay includes "butler service, a team of private chefs and housekeeping, with a dedicated concierge service".</p> <p>Althorp is today most famous for being the final resting place of Princess Diana following her death in Paris.</p> <p><em>Image credits: Getty Images / Instagram</em></p>

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