May is the time of year when the weather is changing around the world, but peak crowds haven't quite arrived, meaning it's a great time for travellers to enjoy new places without having to compete with other tourists.
In the Northern Hemisphere, summer beckons, while on the other side of the world, the colours of autumn are in bloom.
If you're seeking wildlife experiences, consider a trip to Kenya, where you'll have the wilds of the Maasai Mara almost to yourself. If you want to extend winter climes beyond this month, head to Ruka in Finland's Lapland, where skiing, snowfall and sunshine await, or go down under to New Zealand for an adventure-filled escape.
Here are eight of the best places to travel to in May.
1. Athens, Greece
Escape to Greece this month and you’ll get to enjoy the Mediterranean country before peak tourist season begins. It is warm and sunny but not scorching, which makes it the perfect time to explore ancient ruins, relax on beautiful beaches and feast on Greek cuisine. Hop on a ferry and take a day trip to the nearby Saronic Islands where you can wander pine-covered Spetses or explore ancient history in Hydra.
2. Machu Picchu, Peru
May marks the beginning of Peru’s dry season, making it an excellent time to visit, and this year is a great time to go as there are still access passes available for popular attractions such as Machu Picchu and the Sacred Valley. The political unrest of last year has calmed and it is safe for tourists to visit again with transport to and from the mountains operating normally. Trekking the Inca Trail before the summer tourists roll in is something very special.
3. Kenya’s Maasai Mara
May falls between Kenya's two busy tourism seasons and can be a bit of an underrated time to visit the Maasai Mara, especially if you want to do so without hordes of other travellers.
The land is lush and green, making it perfect for budding photographers looking for scenic backdrops for their pictures – it is also a good time to spot lions, waterbuck cubs and elephant calves. It’s also a great month for birders.
4. Nicoya Peninsula, Costa Rica
The green season begins in Costa Rica towards the middle of this month with rainforests blooming and green swathes taking over the country’s hills and valleys. As it’s officially monsoon, there are fewer tourists in May, but rains typically only last for a few hours each day.
Head north-west to the driest place to be this month, Nicoya Peninsula, where you can enjoy beautiful beaches and explore stunning national parks in shades of olive, jade and emeralds. Experienced surfers can also tackle awesome swells along the Pacific coast at this time of year.
5. Mustang, Nepal
May is an excellent time for adventure seekers to head to Nepal, particularly for those looking to go trekking in the Himalayas or discover off-the-beaten destinations. The weather is generally clear and warmer than the winter months, which attracts adventurers trying to scale Mount Everest. It’s also the time to head to Mustang – nestled in the Himalayas, it is surrounded by snow-capped peaks and vibrant forests.
It’s also when you can visit the Tiji festival in Nepal’s upper Mustang area. This fascinating event is full of Tibetan rituals and drums, prayers, dancing and incense, it’s also one of only a few occasions when outsiders can get a glimpse of life in rural Nepal.
6. Yellowstone, US
One of the best months of the year to visit Wyoming’s most famous national park, Yellowstone comes to life with wildlife in May. Spot bison and elk, often with their newborns, and enjoy carpets of blooming wildflowers. As the snow at higher elevations begins melting, the waterfalls and river in the park cascade, and you can enjoy it all without the crowds as peak visitor time for the park isn’t until summer.
7. Ruka, Lapland, Finland
If you’re not quite ready to be done with winter, head to Ruka in Finnish Lapland, which boasts Europe’s longest non-glacier ski season. The main slope is usually operational until June, with five or so runs in action in May. Plus, there are tubing hills and playgrounds for the kids. It’s also nearing the season of Finland’s midnight sunshine – meaning nights are very bright, giving you plenty more hours to enjoy the slopes.
8. Queenstown, New Zealand
May is the end of autumn in New Zealand – a great time to visit without the crowds that flock here in summertime. Head to the South Island, where you can enjoy glorious autumn scenes in Arrowtown, go bungee jumping in Queenstown or head off on two wheels to explore the dramatic colours along the Otago Rail Trail before the winter weather creeps in. Mount Cook is also beautiful at this time of year, just don’t forget to pack layers, the weather will be getting colder.
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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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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