The changing demographics of fine wine investors
In the wake of turbulent economies and multiple bank failures, the market is top of mind for many investors. While some have become more conservative, other investors are looking to diversify their portfolios through alternative assets like wine. At the end of 2022, Liv-ex Fine Wine 1000 (which measures the global market) was up by more than 10 percent of what it was at the beginning of the year. In fact, the market has had an 8 percent compound annual growth for the last 15 years. As more people look to wine as an asset, the landscape of investors is becoming more diverse in background, interests, and investing experience. Here’s a look at the emerging wine investor: Digital investors What was once an asset beloved by collectors and enthusiasts has become more popular with those outside the wine world. This is partially thanks to wine investing now being more accessible, and easier to do, for laymen. Today’s wine investors no longer need to find storage for vintage wines or even spend time authenticating them. Instead, they can use digital platforms to streamline the process of buying, selling, and trading. Platforms like Vinovest have also opened wine investing to new populations of investors, and it looks like these digital spaces are
Grain: Ukraine’s bread and butter
When Russia invaded Ukraine last February, many feared the price of grain would skyrocket. While the cost of war is incalculable on many fronts, this would have been a disaster for Europe and other areas around the world that rely on Ukraine for wheat, maize, and other grains. Known as the continent’s breadbasket, Ukraine is a top exporter of essential grains. The country is the world’s second-largest exporter of barley and fifth-largest exporter of wheat (thanks to its climate and soil). It’s also a large exporter of corn and sunflower oil. While the world waited to see just what would happen, European countries sprung into action to prevent the collapse of Ukraine’s agricultural industry. After all, rising grain prices in Ukraine could have led to dire ramifications around the world, such as food crises and political unrest in Africa and the Middle East. So, although we all expected massive food shortages and sky-high prices, those predictions didn’t fully come to pass. In fact, Ukraine’s grain and agriculture industry is doing better than expected. Here’s why: Europe’s crisis response Ukraine’s grain exportation did take a huge hit when Russia invaded the country. Last year, Russia blocked ports in the Black Sea, which is where a large
A budding market: Cannabis drinks hit a high
Anyone who thought the legal cannabis boom would bust should think again. While admittedly the industry isn’t growing like weeds as it once was, it’s still on the rise. Despite differing laws throughout the world (and in the case of the United States, throughout the country), global legal marijuana sales are expected to hit $55 billion by 2026. That will be up from just $30 billion in 2021. This should be no surprise if you’ve been following legalization news. Last year, Maryland and Missouri residents voted to legalize the plant, bringing the tally of states that allow recreational use up to 21. Across the Atlantic, Germany is working on becoming one of the few European countries to make personal, recreational marijuana legal. So, what’s next for an industry still trying to find its way while catering to a growing number of customers? If the latest trend is any indication–it’s beverages. Many beverage industry players seem to have their eye on cannabis-infused drinks. Last year, the market share of these beverages jumped around 40 percent and new brands are popping up everywhere. Take Boston Beer Company, known for its Samuel Adams Boston Lager, Twisted Tea, and Angry Orchard products. Last year, the beverage giant released their
Gastro-tourism: where the palate leads you
The passion for food and the delight in tasting and knowing the different flavors, smells and textures that foreign gastronomy offers, is gaining more and more strength within the reasons that drive travelers to undertake their trips to unknown destinations. Let's learn a little more about this new tourist trend: gastro tourism and the most attractive destinations to savor in 2023. Gastro Tourism, as its name explains, is that type of tourism that is carried out to get to know and taste the gastronomy of a certain country. Thanks to streaming platforms and the contents of influencers or travel influencers, tourists are enthusiastic about doing this type of tourism where the main guide is food. According to an article published by Civitatis magazine, these are the main destinations that lead the ranking of the 10 best gastronomic destinations in the world. Discover the main most attractive destinations and fall in love with its gastronomy. Italy. It is not necessary to explain much the reasons why Italy continues to be the top destination that stands out for its gastronomy. Beyond being the epicenter of pasta and pizza, Italian gastronomy is very varied and its international recognition is also characterized by the essence of its aromas
Sustainability as the word of 2023
Showing yourself as a responsible company is a difficult task. However, it is profitable. For this 2023, the role of companies in the face of sustainability must consider and maintain a balance between social, environmental and development impacts. In a world that is constantly changing and companies are facing unprecedented challenges, big brands are forced to take responsible measures that support new parameters of sustainable development. Uncertainty about the future, the incorporation of new technologies and financial management are just some of the challenges that will shake the work and management model of companies. According to the Global Compact of the Spanish Network, these are some of the business trends that will mark 2023 in terms of sustainability. Digital transformation. Digital innovation and sustainability go hand in hand. For this year, processes are expected to be more automated and work management much more dynamic and flexible, improving human and production conditions. Sustainability in supply chains. Due to the need to establish resilience measures and manage possible risks from an economic, environmental and social perspective, supply chains have the responsibility of promoting and guaranteeing sustainability in the business process and showing transparency in the management model. . Sustainable financing. The green economy or sustainable economy establishes sustainable development criteria
Artificial intelligence in the tourism sector
It is evident how the evolution of technology and AI capabilities are modifying the operations of commerce sectors and industries worldwide. Processes are being optimized and companies can offer better products and services to their consumers. Indeed, AI is here to stay and what may now seem surprising, was discovered in something normal in our daily lives. Today I will talk specifically about how this technological innovation revolutionizes the tourism sector and the performance of hotels. Artificial intelligence has numerous applications in the tourism sector, impacting both the consumer experience and the operating model of companies. Let's see a little more: Customer acquisition. With AI it will be much easier to attract customers, where the search system becomes more and more personalized and companies develop marketing strategies that adapt to consumer requests and preferences. Thanks to this, the number of options is reduced, processes are streamlined and recommendations are precisely tailored to the interests of the client. Business plans. The companies base the preparation of their business plan on strategies that improve and stimulate the consumer experience, maximizing competitiveness and aiming at sustainable tourism with the use of new technologies. For example, with the use of artificial intelligence from Google it is possible to optimize campaigns
Top 5 Entrepreneurship Trends in 2023
The digital age has brought with it a universe of opportunities, technology and information have arrived to make it easier for us to create new projects and ideas. The reality is that the Covid-19 pandemic has marked a before and after in terms of business management, giving space to digital transformation and business innovations. Predictions tell us that 2023 will be an excellent year to undertake and invest in those ideas that constantly bounce around in our minds, so if you are one of the people who knows how to identify the opportunities that technology and interconnectivity offer us, this article is for you. Web 3.0 business. The technology hidden in web 3.0 is based on a blockchain system that allows new ideas and business models, democratizing the ability to create value companies and offering services such as financial solutions without the need to have other intermediary companies. For example, web 3.0 will enable transactions between users or companies worldwide without having to go through a waiting process and pay bank fees. App design. Application designers are experiencing a high demand within the market, causing large companies such as Google or Amazon to lose strength in the search for products on the Internet. IOT. Also
The international expansion of hotel brands
With the emergence of globalization, the tourism market is becoming increasingly competitive and challenging, the hotel industry is growing exponentially, causing brands to focus on the growth and advancement of their hotels. Thanks to this, hotel brands concentrate their market management on internationalization strategies that promotes the development of their brands in different geographical locations, offering new products and services according to the resources that serve as opportunities. In the hotel industry, market share complicates the distinction of the products and services offered by hotels, causing hotel chains to base their internationalization strategy on management contracts and franchises. This strategy consists of the union of companies with the same level of production to achieve a higher level of reach, distribution and sales in the market. According to this, internationalization has a number of benefits for hotel brands, I will mention some of them below: Competition is reduced, while national and regional prestige is gained. Access to new markets and consumers globally. Resource costs are reduced. Increase the list of suppliers and shareholders by having so much power in the market. Economies of scale are taken advantage of. A good example of a star hotel brand at an international level is the Hilton Hotel & Resorts
Digging into California’s truffle industry
Few delicacies say “fine dining” like truffles. Notoriously hard to harvest, these luxe fungi can cost thousands of dollars, making them some of the most expensive ingredients. (Like the world’s largest white truffle, which sold for a whopping $61,000 in 2014.) Truffles are high maintenance. In addition to different truffles species needing their specific climates and trees (where they grow on the roots), they can take up to 20 years to develop. The mushrooms are also hard to find once they’re ready, so truffle hunters usually need a trained pig or dog to point them in the right direction. After all the harvesting work, truffles only stay fresh enough to eat for less than a week. These hard conditions don’t just justify the high cost of truffles, they also make growing them in your own backyard a little more convenient–and profitable. Just ask farmers in California. Where in the world are truffles? Although truffles require a long list of specifics before they can make it to world-renowned restaurants, surprisingly they can grow in several areas. However, most culinary truffles come from Europe, including Italy’s coveted white truffle. While Italy, France, and Spain still dominate the truffle market, countries like Australia (now the fourth-largest truffle industry
Is it Dry January’s last call?
I recently wrote about the growing number of new nonalcoholic bottle shops popping up in major cities–fueled by the burgeoning sober-curious movement. So, it may shock you to learn one of the movement’s more popular trends, Dry January (when people give up alcohol for the first month of the year), is on the decline. You heard that right: Fewer people say they’re participating in 2023’s sober festivities according to a recent survey by Morning Consult. This year, the number of adults who said they would take part in Dry January dropped from 19 percent to 15 percent compared to last year. But the reason why may surprise you. Dry January’s dry spell If more adults are embracing sobriety as a lifestyle (even if it’s just a month-long), then why did Dry January participation take a hit? We just answered our question. One reason fewer people are partaking is because people are drinking less overall. This is especially true for millennials. In December 2021, almost 70 percent said they drink. Last December, that number dropped to 62 percent. This is huge for a generation that reports drinking alcohol more frequently than others. And, ironically, Dry January participation might also be down due to last year’s success. That is, 2022’s