As Bali deals with an influx of tourists, Bhutan is introducing initiatives to attract more travellers to its shores.
Meanwhile, in Europe, one airline has become the first on the continent to introduce on-board child-free zones, and easyJet has launched its first flight from London to Cairo.
Here's a round-up of recent travel and tourism news – in case you missed it.
Riyadh airport launches sleep pods
News of King Khalid International Airport's sleep pods went global last week, as Riyadh introduces Wassan Lounge in departures at Terminal 5.
The capsules come equipped with air-conditioning, interactive screens, charging ports and storage space for luggage, reported Saudi Press Agency. The beds are two metres long by 1.5 metres wide.
The pods are designed for passengers who have short layovers and need to rest between flights, but can also be used for work or leisure. They can cater for up to 300 passengers per day.
Bali announces $10 entry cost
The Indonesian island has been dealing with unruly tourists this year, as millions flock to its shores. This has included introducing stricter policies, such as mandatory licences for scooters, a ban on mountain hiking and an entry fee of 150,000 rupiah ($10) per person. The fee, which was announced earlier this year, must be paid before or on arrival.
The move will come into effect in February and comes as part of Bali's efforts to “clean up its tourism scene,” said Tjokorda Bagus Pemayun, Bali's head of tourism office, in an interview with Bloomberg last week. The funds will be used for conservation and sustainability projects, he confirmed.
Bhutan halves tourism fees
Visitors to Bhutan currently have to pay $200 per person per night as part of the Himalayan country's Sustainable Development Fee. This was raised from $65 last September after two years of Covid-19 restrictions, with the money meant to offset carbon generated by tourists.
But the government announced this weekend that it will halve this daily fee, with a new rate of $100 per night from September. Lasting for four years, the change is part of an effort to boost a struggling tourism industry.
London to Cairo flights for easyJet
The British low-cost airline has announced a new route to Cairo, departing from London Luton for the first time on October 31. The flight will take off three times each week, and will operate year-round.
This will be the first time easyJet flies to Cairo, joining Sharm El Sheikh and Hurghada on the airline's Egyptian network.
“As the Egyptian capital, Cairo is home to some truly iconic landmarks and is sure to be a destination of choice for passengers travelling from London Luton Airport,” said Jonathan Rayner, chief commercial officer at London Luton Airport.
First European carrier to launch child-free zones
Come November, if you're a passenger with children in tow on Turkish-owned Corendon Airlines, make sure you don't end up in the “Only Adult” zone, as it becomes the first European carrier to offer child-free seating.
The service, which is accessible to passengers aged 16 and over, is the first of its kind for a European carrier, as Corendon follows in the footsteps of international carriers such as AirAsia.
It will first be introduced on flights between Amsterdam and Curacao.
Korean Air to weigh passengers
South Korea’s largest airline has confirmed it will be “measuring the average weight of passengers along with their carry-on items for flight safety” within the coming weeks. This follows a similar move announced by Air New Zealand in June.
Travellers flying from Gimpo Airport and Incheon International Airport – both in Seoul – will be asked to let themselves be weighed. Though, the airline said that anyone who wants to keep their weight private can opt out if they let staff know.
This process helps the airline update its Aircraft Weight and Balance Management Standards, determining weight distribution on aircraft. These measurements need to take place every five years.
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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Twenty20 squad: Babar Azam (captain), Asif Ali, Fakhar Zaman, Haris Sohail, Iftikhar Ahmed, Imad Wasim, Imam-ul-Haq, Khushdil Shah, Mohammad Amir, Mohammad Hasnain, Mohammad Irfan, Mohammad Rizwan (wicketkeeper), Musa Khan, Shadab Khan, Usman Qadir, Wahab Riaz
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
