Adventure tourism is a vital component of efforts to cultivate a sustainable travel industry, according to a leading figure in the sector.
Speaking at Europe's first AdventureElevate summit, Adventure Travel Trade Association (ATTA) chief executive Shannon Stowell explained that the adventure industry can help.
Speaking in Tirol, Austria, he said: “Many destinations are seeing overtourism problems, yet they still need the tourism economy to deliver. This is where I feel the adventure industry is vital going forward.
“It takes 100 cruise customers to leave $10,000 in an economy. It takes nine overnight package tourists to leave $10,000, and it takes just four commercial adventure travellers to leave the same amount.
“As destinations look at what what's going to be valuable for the future, especially if overtourism is a challenge or a problem, adventure travel is one of those solutions because you can have fewer tourists, and ones who really respect that destination,” said Stowell.
Established 20 years ago, ATTA is the world’s largest adventure travel association and has about 30,000 members, including tour guides, tour operators, destination management companies and travel advisers. According to the latest ATTA data, adventure travellers tend to stay at local lodges, eat local food, buy locally made handicrafts and use local guides more often than conventional tourists.
“It’s all about leakage – the amount of revenue that leaves a destination,” said Stowell. For mass tourism, leakage is reported to be 80 to 90 per cent. That number is much lower for adventure travellers, the chief executive said, with trips averaging a leakage of 30 to 35 per cent.
Stowell explained that adventure travellers often venture to less-visited areas, something he said can help combat overtourism by dispersing visitors. He added that it also means more money can reach outlying areas and support local business.
ATTA’s first summit in Europe has attracted 250 participants from 39 nations and five continents to the Tirol town of Kitzbuhel, one of the most exclusive winter sport resorts in the Alps. During the two-day summit, industry leaders and speakers will report on and discuss various topics, including sustainability and new technologies.
“This event offers the perfect opportunity to present Tirol and its regions to international markets and to exchange ideas with new and existing contacts,” said Karin Seiler, chief executive of Tirol Tourist Board.
The summit is likely to be the first of many. “The idea of AdventureElevate is that we will rotate around Europe,” said Gabriella Stowell, ATTA's vice-president of regional development. “This is the first year and we're very happy to be in Tirol. Although we still don’t have a confirmed location for next year, we are talking to many destinations.”
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The Porpoise
By Mark Haddon
(Penguin Random House)
RACE CARD
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7.05pm Handicap (TB) Dh102,500 (D) 1,200m
7.40pm Handicap (TB) Dh105,000 (Turf) 1,800m
8.15pm UAE 1000 Guineas Trial (TB) Dh183,650 (D) 1,400m
9.50pm Handicap (TB) Dh105,000 (D) 1,600m
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UK’s AI plan
- AI ambassadors such as MIT economist Simon Johnson, Monzo cofounder Tom Blomfield and Google DeepMind’s Raia Hadsell
- £10bn AI growth zone in South Wales to create 5,000 jobs
- £100m of government support for startups building AI hardware products
- £250m to train new AI models
How much of your income do you need to save?
The more you save, the sooner you can retire. Tuan Phan, a board member of SimplyFI.com, says if you save just 5 per cent of your salary, you can expect to work for another 66 years before you are able to retire without too large a drop in income.
In other words, you will not save enough to retire comfortably. If you save 15 per cent, you can forward to another 43 working years. Up that to 40 per cent of your income, and your remaining working life drops to just 22 years. (see table)
Obviously, this is only a rough guide. How much you save will depend on variables, not least your salary and how much you already have in your pension pot. But it shows what you need to do to achieve financial independence.
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Citizenship-by-investment programmes
United Kingdom
The UK offers three programmes for residency. The UK Overseas Business Representative Visa lets you open an overseas branch office of your existing company in the country at no extra investment. For the UK Tier 1 Innovator Visa, you are required to invest £50,000 (Dh238,000) into a business. You can also get a UK Tier 1 Investor Visa if you invest £2 million, £5m or £10m (the higher the investment, the sooner you obtain your permanent residency).
All UK residency visas get approved in 90 to 120 days and are valid for 3 years. After 3 years, the applicant can apply for extension of another 2 years. Once they have lived in the UK for a minimum of 6 months every year, they are eligible to apply for permanent residency (called Indefinite Leave to Remain). After one year of ILR, the applicant can apply for UK passport.
The Caribbean
Depending on the country, the investment amount starts from $100,000 (Dh367,250) and can go up to $400,000 in real estate. From the date of purchase, it will take between four to five months to receive a passport.
Portugal
The investment amount ranges from €350,000 to €500,000 (Dh1.5m to Dh2.16m) in real estate. From the date of purchase, it will take a maximum of six months to receive a Golden Visa. Applicants can apply for permanent residency after five years and Portuguese citizenship after six years.
“Among European countries with residency programmes, Portugal has been the most popular because it offers the most cost-effective programme to eventually acquire citizenship of the European Union without ever residing in Portugal,” states Veronica Cotdemiey of Citizenship Invest.
Greece
The real estate investment threshold to acquire residency for Greece is €250,000, making it the cheapest real estate residency visa scheme in Europe. You can apply for residency in four months and citizenship after seven years.
Spain
The real estate investment threshold to acquire residency for Spain is €500,000. You can apply for permanent residency after five years and citizenship after 10 years. It is not necessary to live in Spain to retain and renew the residency visa permit.
Cyprus
Cyprus offers the quickest route to citizenship of a European country in only six months. An investment of €2m in real estate is required, making it the highest priced programme in Europe.
Malta
The Malta citizenship by investment programme is lengthy and investors are required to contribute sums as donations to the Maltese government. The applicant must either contribute at least €650,000 to the National Development & Social Fund. Spouses and children are required to contribute €25,000; unmarried children between 18 and 25 and dependent parents must contribute €50,000 each.
The second step is to make an investment in property of at least €350,000 or enter a property rental contract for at least €16,000 per annum for five years. The third step is to invest at least €150,000 in bonds or shares approved by the Maltese government to be kept for at least five years.
Candidates must commit to a minimum physical presence in Malta before citizenship is granted. While you get residency in two months, you can apply for citizenship after a year.
Egypt
A one-year residency permit can be bought if you purchase property in Egypt worth $100,000. A three-year residency is available for those who invest $200,000 in property, and five years for those who purchase property worth $400,000.
Source: Citizenship Invest and Aqua Properties
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Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
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