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China: Our Eyes on the Ground

Ready to discover China?

By: Robin O'Connor
Senior Programme Manager

Since 2016, my journeys through China have taken me from the bustling streets of Beijing to the manufacturing hubs of the East, and even the remote mountainous villages of Sichuan. Each corner of this vast nation has left an indelible mark on me. I've come to cherish China's blend of cutting-edge technology, monumental scale, and its rich tapestry of language and culture.

China has always been at the core of my academic and professional life. It was a gap year working in Xiamen after high school that ignited a passion for international business as I went on to study Economics and Management at university. That course sponsored a summer internship to Chengdu, which highlighted the transformational impact of international immersion programs, and inspired me to join the team at Legacy Ventures.

The Legacy Ventures team are so excited that China is now open and that soon we can help Business school students explore this fascinating country. Only by stepping foot in China can one truly grasp the staggering scope of its development, and witness first-hand how cutting-edge technologies have transformed society.

During my recent inspection visit to China, it was a great pleasure to reconnect with partners and rekindle our network there.

Here are four aspects of life in China that stood out during my visit.

1. Despite the scorching summer temperatures, tourist spots were buzzing with life, and masks were a rare sight, signalling a society on the mend.
2. The continued investment in infrastructure is striking. The nation remains commitment to bringing opportunities and economic prosperity even to its remotest corners with its impressive network of high-speed rail and motorways.
3. The Chinese electric vehicle market is undergoing a remarkable transformation, with a dazzling array of brands vying for prominence.
4. The sheer efficiency of e-commerce never ceases to amaze. Having fresh fruit delivered to your doorstep at midnight within a mere 15 minutes of ordering encapsulates modern China.

At Legacy Ventures, we look forward to welcoming groups back to China in coming months. We can’t wait to help students rediscover this nation’s extraordinary innovation and culture. Contact us today and let the journey begin!


Legacy Ventures has built a network of startup and innovation hubs in over 20 cities around the world from Silicon Valley to Beijing, Berlin to Cape Town. All our programs explore the latest technology trends and the digital economy, provide high level immersions with some of the world’s most forward thinking companies and include discussions and fire side chats with some of the brightest minds. Finally, all our programs include meaningful interactions with the Universities that sit at the heart of these eco-systems. Join us in discovering the next generation of disruptors. Lead. Learn. Inspire

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Exploring the Intersection of Style and Speed https://legacy-ventures.com/2023/08/07/exploring-the-intersection-of-style-and-speed/?utm_source=rss&utm_medium=rss&utm_campaign=exploring-the-intersection-of-style-and-speed https://legacy-ventures.com/2023/08/07/exploring-the-intersection-of-style-and-speed/#respond Mon, 07 Aug 2023 14:41:54 +0000 https://legacy-ventures.com/?p=3064

Exploring the Intersection of Style and Speed

Experience Italy on your next immersion, where timeless elegance ignites innovation and speed.

Italy, a country renowned for its timeless elegance and passion for speed, has firmly established itself as the perfect destination for those who appreciate the intersection of fashion and automobiles. With a rich history in both industries, Italy has become a global center for style, setting trends and pushing boundaries in the world of fashion, while also producing some of the most iconic and coveted cars. In this comprehensive article, we will delve into the captivating world where style and speed intersect, unveiling Italy's fashion and automobile powerhouses.

The Rise of Italian Fashion

Italy's influence on the fashion industry stretches back centuries, but it was in the post-World War II era that the country truly emerged as a force to be reckoned with. Italian designers gained international recognition for their impeccable craftsmanship, attention to detail, and innovative designs. Gucci, Prada, and Versace are three of the most iconic Italian fashion brands that have played pivotal roles in shaping the industry. Gucci, founded in 1921, became synonymous with luxury and sophistication. Prada, established in 1913, revolutionized fashion with its minimalist and avant-garde approach. Versace, founded in 1978, brought boldness and glamour to the forefront of Italian fashion.

The Art of Italian Automobile Design

Just as Italian fashion is synonymous with style, Italian automobile design is renowned for its elegance, innovation, and performance. Italy has given birth to legendary car manufacturers that have become synonymous with luxury and speed, attracting car enthusiasts from all corners of the globe. Ferrari, Lamborghini, and Maserati are three Italian automobile powerhouses that have left an indelible mark on the industry. Ferrari, founded in 1939, is known for its iconic red sports cars, combining cutting-edge technology with exquisite design. Lamborghini, established in 1963, is synonymous with boldness and flamboyance, producing some of the most visually striking and powerful cars in the world. Maserati, founded in 1914, epitomizes elegance and luxury, creating cars that exude sophistication and refinement.

The Love Affair between Fashion and Automobiles

The passionate love affair between fashion and automobiles is a natural fit, with both industries sharing a common thread of innovation, artistry, and the pursuit of perfection. Fashion designers and automobile manufacturers have often found inspiration in each other's work, resulting in collaborations that have captivated the world. These collaborations have given rise to limited-edition cars that can be considered true works of art on wheels. Fashion designers lend their unique aesthetics to the design process, infusing cars with elements of luxury and style. Similarly, automobile manufacturers have ventured into the world of fashion, creating clothing lines that reflect the spirit and essence of their iconic cars.

The Influence of Italian Style and Speed on Popular Culture

Italian style and speed have permeated popular culture in various ways, leaving an indelible mark on music, film, and art. The allure of Italian fashion and automobiles has inspired countless artists, musicians, and filmmakers, who have sought to capture the essence of Italian elegance and the thrill of the open road. Italian fashion has become synonymous with red-carpet events and high-profile celebrities, with designers dressing some of the world's most influential individuals. Italian automobiles, on the other hand, have become iconic symbols of status and prestige, featuring prominently in movies and music videos.

The Enduring Legacy of Italian Fashion and Automobiles

Italy's fashion and automobile powerhouses continue to shape and redefine their respective industries. The allure of Italian style and speed transcends borders, captivating individuals from all walks of life. Whether it's the timeless elegance of Italian fashion or the raw power of Italian cars, Italy's influence on the world of style and speed is undeniable. As we explore the intersection of style and speed, we are reminded of the enduring legacy of Italian fashion and automobiles. From the iconic designs of Gucci and Ferrari to the collaborations between fashion and automobile brands, Italy has left an indelible mark on the world of fashion and cars. The allure of Italian style and speed will undoubtedly continue to inspire and captivate for generations to come.

Italy, a country where style and speed converge in a captivating way. From the rise of Italian fashion to the art of Italian automobile design, the love affair between fashion and automobiles, the influence on popular culture, and the enduring legacy, Italy's impact on the world of style and speed is undeniable. Whether you're a fashion enthusiast or a car aficionado, Italy offers a unique blend of elegance, innovation, and passion that is sure to leave a lasting impression. So, why not embark on a journey to Italy and experience the captivating world where style and speed intersect?


Legacy Ventures has built a network of startup and innovation hubs in over 20 cities around the world from Silicon Valley to Beijing, Berlin to Cape Town. All our programs explore the latest technology trends and the digital economy, provide high level immersions with some of the world’s most forward thinking companies and include discussions and fire side chats with some of the brightest minds. Finally, all our programs include meaningful interactions with the Universities that sit at the heart of these eco-systems. Join us in discovering the next generation of disruptors. Lead. Learn. Inspire

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Unleashing China’s Tech Giants: Pioneers of Innovation https://legacy-ventures.com/2023/06/14/unleashing-chinas-tech-giants-pioneers-of-innovation/?utm_source=rss&utm_medium=rss&utm_campaign=unleashing-chinas-tech-giants-pioneers-of-innovation https://legacy-ventures.com/2023/06/14/unleashing-chinas-tech-giants-pioneers-of-innovation/#respond Wed, 14 Jun 2023 13:01:09 +0000 https://legacy-ventures.com/?p=3049

Unleashing China’s Tech Giants: Pioneers of Innovation

Experience the wanders of China’s rapid modernisation on your next immersive journey.

China's thriving tech giants, including the trailblazers Alibaba, Tencent, and Baidu, are revolutionizing the global business landscape with their ingenious solutions and immense influence. These visionary companies have metamorphosed numerous sectors such as e-commerce, social media, gaming, search engines, and AI, redefining the boundaries of what's possible. Let's embark on a journey to explore the disruptive impact they have made and the promising future of China's tech industry.

At the forefront stands Alibaba, the unparalleled titan of e-commerce, with a remarkable market capitalization surpassing $500 billion. Powering its ascent is the flagship platform Taobao, a comprehensive e-commerce destination that attracts over 800 million active users. Taobao has redefined the shopping experience in China, thanks to its cutting-edge AI-powered algorithms that provide personalized recommendations. Expanding its sphere of influence, Alibaba also embraces platforms like Tmall and AliExpress while venturing into the realms of cloud computing, digital media, and entertainment.

Tencent, an industry luminary in gaming and social media, commands a staggering market capitalization exceeding $800 billion. Disrupting the social media and gaming landscapes, its crown jewel WeChat has accumulated a staggering user base of more than 1.2 billion, becoming the go-to platform for messaging, social media interactions, and mobile payments within China. Complementing this achievement is Tencent Games, the gaming division that boasts a market capitalization surpassing $150 billion, offering beloved titles such as Honor of Kings, PUBG, and League of Legends. Furthermore, Tencent diversifies its offerings into digital payments, online advertising, and cloud computing, providing an extensive array of products and services.

Baidu's far-reaching impact on search engines and AI is undeniable. With Baidu.com firmly entrenched as the dominant force in the Chinese market, it utilizes AI and machine learning to deliver precise search results, capturing a remarkable 70% of the market share in China and standing as the world's second-largest search engine. Globally recognized for its AI prowess, Baidu maintains one of the largest AI research teams, channeling their expertise into autonomous driving, healthcare, and voice recognition. To expand its offerings, Baidu explores cloud computing, digital payments, and smart speakers.

China's tech giants have reshaped the global business landscape by revolutionizing traditional industries and fostering unprecedented collaboration and partnership opportunities. By forging strategic alliances and making astute investments, these companies have propelled their international expansion, allowing businesses worldwide to leverage their unrivaled expertise and cutting-edge technology. They catalyze innovation and competition within the global tech industry, setting the standard for research and development and pushing the boundaries of technological advancement.

Nevertheless, China's tech industry faces challenges on its path to success. Safeguarding intellectual property remains a crucial concern, necessitating robust measures to combat piracy and counterfeiting. Additionally, increased scrutiny from foreign governments poses challenges, with allegations of espionage and national security threats impacting companies like Huawei and ZTE. In response, China proactively promotes domestic technology, investing in self-sufficiency while addressing these concerns.

Amidst these challenges, China's tech giants present unparalleled opportunities for businesses to forge partnerships and reap the benefits of their extensive reach and unrivaled expertise. Businesses seeking to expand their online presence can tap into Alibaba's services, including cloud computing and digital media. Tencent's social media and gaming platforms offer an ideal gateway for engaging Chinese consumers and accessing the vast Chinese market. Baidu's exceptional AI and autonomous driving capabilities stand ready to support businesses in developing innovative products and services. Collaboration and innovation bloom, fueled by the substantial investments in research and development made by these industry behemoths.



Legacy Ventures has built a network of startup and innovation hubs in over 20 cities around the world from Silicon Valley to Beijing, Berlin to Cape Town. All our programs explore the latest technology trends and the digital economy, provide high level immersions with some of the world’s most forward thinking companies and include discussions and fire side chats with some of the brightest minds. Finally, all our programs include meaningful interactions with the Universities that sit at the heart of these eco-systems. Join us in discovering the next generation of disruptors. Lead. Learn. Inspire

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Saudi Arabia: Vision 2030 https://legacy-ventures.com/2023/04/25/saudi-arabia-vision-2030/?utm_source=rss&utm_medium=rss&utm_campaign=saudi-arabia-vision-2030 https://legacy-ventures.com/2023/04/25/saudi-arabia-vision-2030/#respond Tue, 25 Apr 2023 11:08:23 +0000 http://legacy-ventures.com/?p=2836

Saudi Arabia: Vision 2030

Plan your next immersion to Saudi Arabia and explore one of the world’s fastest modernising countries.

Saudi Arabia has emerged as a hot destination due to its growing emphasis on sustainability in the business landscape. The country's Vision 2030 initiative aims to transform the economy and society by reducing dependence on oil, promoting economic diversification, and improving citizens' quality of life. Sustainability is a critical component of this vision, and the government is actively encouraging businesses to adopt sustainable measures and technologies.

When visiting Saudi Arabia, you can delve into the rationale behind sustainability becoming a primary initiative in the country's business landscape, and the benefits it can provide. You can witness firsthand how companies are prompted to embrace sustainable measures and technologies to fulfil Vision 2030's objectives of increasing the proportion of renewable energy in the energy mix, lowering greenhouse gas emissions, and advancing waste management.

The Saudi Arabian general public is increasingly aware of the ecological and social effects of their purchasing decisions. Customers are progressively seeking commodities and services that are environmentally sustainable, socially responsible, and ethically produced. This trend is not unique to Saudi Arabia and is being seen worldwide..

Moreover, sustainable measures can lead to cost savings for Saudi Arabian businesses. For instance, curbing energy consumption can decrease electricity bills, and implementing recycling programs can decrease waste disposal costs. Sustainable measures can also result in enhanced efficiency and productivity, reducing costs and increasing profitability.

The Saudi Arabian government has also implemented regulations to promote sustainability and reduce environmental and social impacts. The National Environmental Strategy incorporates objectives for reducing waste and improving air and water quality. Companies that disregard these regulations may face fines and harm to their reputation.

Companies that adopt sustainable measures and provide sustainable products can enhance their reputation and brand image. Customers in Saudi Arabia are more likely to trust and support businesses that are committed to sustainability, leading to heightened brand loyalty and positive word-of-mouth advertising.

On top of which many employees in Saudi Arabia prefer jobs that align with their personal values and beliefs. Corporations that adopt sustainable measures can attract and retain employees who are enthusiastic about sustainability, leading to a more committed and engaged workforce, enhancing productivity and profitability.

Saudi Arabia's growing emphasis on sustainability makes it a hot destination for MBA Global Immersion programs. Visiting the country, you can learn about the unique challenges and opportunities for sustainable business practices, witness firsthand how companies are adopting sustainable measures, and gain an understanding of the regulations and incentives in place to promote sustainability. Moreover, you can learn about the economic, social, and environmental benefits of sustainability, and how it can lead to increased profitability, enhanced reputation and brand image, and a more committed and engaged workforce.

Legacy Ventures has built a network of startup and innovation hubs in over 20 cities around the world from Silicon Valley to Beijing, Berlin to Cape Town. All our programs explore the latest technology trends and the digital economy, provide high level immersions with some of the world’s most forward thinking companies and include discussions and fire side chats with some of the brightest minds. Finally, all our programs include meaningful interactions with the Universities that sit at the heart of these eco-systems. Join us in discovering the next generation of disruptors. Lead. Learn. Inspire

Planning your next global immersions? We look forward to hearing from you.


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Tokyo: Hub of Innovation https://legacy-ventures.com/2023/02/28/tokyo-hub-of-innovation/?utm_source=rss&utm_medium=rss&utm_campaign=tokyo-hub-of-innovation https://legacy-ventures.com/2023/02/28/tokyo-hub-of-innovation/#respond Tue, 28 Feb 2023 21:51:41 +0000 http://legacy-ventures.com/?p=2836

Tokyo: Hub of Innovation

Tokyo is back! 
Is there a better place to visit to showcase innovation?

Tokyo, the capital city of Japan, is quickly becoming one of the hottest travel destinations for innovation. In recent years, the city has seen an explosion of innovation in various fields, from technology and transportation to cuisine in fashion. Here are some of the reasons why Tokyo is becoming a hub of innovation and must visit destination for anyone interested in the future of technology and culture.

High-Tech Innovation: Tokyo is one of the world’s leading cities in technological innovation. With advanced infrastructures and cutting edge, research facilities, the city has become a center for the development of robotics, AI, and other advanced technologies. Tokyo is also home to several tech giants, like Sony, Toshiba, and Panasonic, making it a hub of innovation and technological advancement.

Cultural Innovations: Tokyo is also a city of unique and innovative, cultural experiences. The city has a rich and diverse, cultural heritage, which is reflected in its art, architecture, and cuisine. Tokyo Street, fashion and music scenes are also known for their avant-garde and experimental nature, making the city a hub of cultural innovation.

Sustainable Urban Planning: Tokyo is also a model for sustainable urban planning. The city has invested heavily in public transportation, creating an efficient, inaccessible system of buses, trains, and subways. Tokyo is also a leader in eco-friendly, urban design, with innovative projects like the Tokyo Skytree, and the solar powered Nishi-Shinjuku building.

Start-Up Ecosystem: Tokyo, start-up ecosystem is booming, with a growing number of innovative, entrepreneurs, and start-ups in various factors. The city has several co-working spaces and incubators, that support, entrepreneurship, and innovation, making it an attractive destination for start-ups, looking to scale.

In conclusion, Tokyo is becoming a hot travel, destination for innovation due to its high-tech innovation, cultural innovation, sustainable, urban, planning, and start up ecosystem. With its unique blend of tradition and innovation, Tokyo offers a glimpse into the future of technology, cultural, and urban living. Anyone interested in exploring the cutting edge of innovation, and experiencing a vibrant and dynamic cultural should put Tokyo on their travel itinerary.

Conclusion

Legacy Ventures has built a network of startup and innovation hubs in over 20 cities around the world from Silicon Valley to Beijing, Berlin to Cape Town. All our programs explore the latest technology trends and the digital economy, provide high level immersions with some of the world’s most forward thinking companies and include discussions and fire side chats with some of the brightest minds. Finally, all our programs include meaningful interactions with the Universities that sit at the heart of these eco-systems. Join us in discovering the next generation of disruptors. Lead. Learn. Inspire

Planning your next global immersions? We look forward to hearing from you.


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Are Universities the New Startup Hubs? https://legacy-ventures.com/2021/06/22/are-universities-the-new-startup-hubs/?utm_source=rss&utm_medium=rss&utm_campaign=are-universities-the-new-startup-hubs https://legacy-ventures.com/2021/06/22/are-universities-the-new-startup-hubs/#respond Tue, 22 Jun 2021 10:15:13 +0000 http://legacy-ventures.com/?p=2836

Are Universities the New Startup Hubs?

More startup resources are available for entrepreneurs than ever before. Read about how universities all over the world are the new startup hubs.

The history of startup business has rich and colorful nuances and a pattern of continuous and exponential growth. Although the definition of what a startup is has changed over the years, all companies were once a startup. Companies such as Edison General Electric and later Coca-Cola or Nokia would have all been considered startup businesses in their early days.

Entrepreneurs are now huddled in startup hubs that offer a wide variety of opportunities, technology, and knowledge to help those most determined to succeed. To get a clear image of how the startup industry has evolved since Edison's time, we'll first need to talk about the father of all startup hubs: Silicon Valley.

The Ascension of Silicon Valley

Silicon Valley has been leaving a mark on technological advancements since the 1970s. Although not technically a startup hub, as we would name it today, California’s San Francisco Bay Area gathered some of the brightest minds around Stanford University in California. Business giants like Google, Facebook, and Apple all got their start here.

The Electronic News magazine first coined the term Silicon Valley in a 1971 publication. The reason behind this term was that most companies in the area at the time were building and selling semiconductors with silicone as their main component.

By the mid-1980s Palo Alto, Mountain View, Cupertino, and Sunnyvale were all considered part of Silicon Valley. Due mainly to the dot-com boom of the late 1990s, Silicon Valley became known as the tech hub of the world and many giants emerged from the area.

Following in Stanford University's footsteps, other universities around the world began investing in startup hubs and business incubators. Student startups are still trending and many student-entrepreneurs contribute to their country's economy by raising ideas to the status of startups.

Over the last decade Legacy Ventures has been designed dozens of high impact immersive innovation, digital and entrepreneurial experiences in Silicon Valley. This has without a doubt been the most popular and most in demand global start-up and innovation hotspot in the world for our partners.

What Is a Startup Hub?

A startup hub is a place where business ideas can flourish into full-fledged companies. Universities like The Massachusetts Institute of Technology, Harvard University, and University of California, Berkeley, were among the first higher education schools to offer startup hubs and business incubators.

Furthermore, a startup initiative needs to have all the qualities of a scalable business, the team should be committed to success, and regardless of the industry, the startup will need to make good use of the latest technology.

For a student idea to be considered a startup, it needs to have:

1. A growth focus

The main aim of a startup is growth. Unlike some small businesses out there, a team of students with a startup idea should be looking to implement a continuous growth strategy.

This means that the company will be on track for expansion and not limited by a more traditional business model that can function for years with the same revenue and the same clients. Student entrepreneurs rely on startup hubs, crowdfunding, angel investors, and business accelerators to fund their business idea.

Whatever services or products your business offers your customers, you'll need to be aware that paying back investors will take some time. Proper business and marketing planning will help better predict a timeframe for paying off borrowed capital.

Depending on your payback sum, it can take a year or more to turn the business from paying back debt to producing profit. Once your business begins to make money, you'll want to consider forming strategic partnerships, acquiring other startups, and securing additional funding to ensure you're staying on the right growth trajectory.

2. A spotlight on innovation

Today's startup hubs solve existing problems by finding new solutions. They acquire or manufacture new products, offer new services, and gain funding from new sources.

3. Use the latest tech

Although most startups of the last few decades have thrived on using the newest technology available, not all startups need to be knee-deep in tech to succeed. Still, smart startups work with technology even if they do not necessarily invent new software or manufacture new tech products.

4. More than one employee

As an entrepreneur, you can certainly start a business on your own. But, to grow, you'll need a carefully selected team that supports the business and believes in its success.

5. Maximum 500 employees

Most startups will hire somewhere around 5 employees when they are in the beginning stages of building the business. As you grow, it will become increasingly evident that hiring the right people at the right time is crucial to the survival and continuous growth of your business.

Once you hit the 500-employee mark, it will be safe to say you are no longer considered a startup company. Until that happens, ensure that each member of your team is passionate about their role and create a work environment that allows each of them to advance professionally, as well as personally.

Universities Offer the Best Startup Hubs

In the last few years, universities in every major city in the world have started realizing that startup hubs are good for business, for the economy, and for student entrepreneurs. As such, they have started offering a sounding board for students to build businesses directly related to their research area, as well as incubators to increase the likelihood of success.

In fact, it’s estimated that a new business is born every 2 hours in UK universities alone. And, in 2018, student startups in the UK were generating an income of £1 billion. This is a significant increase when compared to the £913 million in 2016.

According to Creator Fund, students have not been deterred by the ongoing pandemic, and are using the downtime to chisel their business ideas. More students than ever before are becoming entrepreneurs, and more are building the foundations for the business giants of the future.

CEO of the National Association of College and Universities Entrepreneurs, Holly Knower was quoted saying: "We’ve found that recent postgraduates are looking for more creative and innovative ways to make their mark within their chosen disciplines, and this includes starting their own business".

In her interview with The Guardian, she added: "The current labor market is not what it once was and therefore we will see a reduced number of young people fulfilling long-term careers in one dedicated role; instead they’ll be making their own dream careers by starting up their own companies".

One major reason why universities can offer the best startup hubs to student entrepreneurs is the vast resources each university can offer. Higher education schools invest in their students and in turn help their bottom line as well as the country's economy.

The Benefits of Joining a College or University Startup Hub

As mentioned, higher education schools dispose of the funds, tech, and knowledge resources that a student entrepreneur needs to start their business.

Stanford University is at the top of the list for innovative, wealth generating, and most sought-after startup hubs. The university's undergraduate programs have generated the most entrepreneurs, most companies, and an impressive range of accelerators for would-be founders to apply to.

Colleges and universities are also the perfect breeding ground for connections and networking. If you're looking for investors, partners, or supporters you'll find it easier to secure major stakeholders for your business by taking advantage of your university's far-reaching influence.

The Massachusetts Institute of Technology (MIT) is one of the most renowned startup generators with over 1000 startups funded between 2006 and 2020. Their Martin Trust Center for MIT Entrepreneurship offers startup accelerators, training and advisors, as well as an entrepreneurship competition with $100,000 in prizes.

In the UK, University of Oxford, Warwick Business School, and University of Cambridge are among the top schools to offer support to their student entrepreneurs. Sure, not all of us can go to Harvard or Oxford, but more accessible colleges and universities around the world are starting to invest in their student entrepreneurs too.

Conclusion

Legacy Ventures has built a network of startup and innovation hubs in over 15 cities around the world from Silicon Valley to Beijing, Berlin to Cape Town. All our programs explore the latest technology trends and the digital economy, provide high level immersions with some of the world’s most forward thinking companies and include discussions and fire side chats with some of the brightest minds. Finally, all our programs include meaningful interactions with the Universities that sit at the heart of these eco-systems. Join us in discovering the next generation of disruptors. Lead. Learn. Inspire!

Planning your next global immersions? We look forward to hearing from you.


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The return of big events and reasons to be optimistic. https://legacy-ventures.com/2021/05/13/the-return-of-big-events-and-reasons-to-be-optimistic/?utm_source=rss&utm_medium=rss&utm_campaign=the-return-of-big-events-and-reasons-to-be-optimistic https://legacy-ventures.com/2021/05/13/the-return-of-big-events-and-reasons-to-be-optimistic/#respond Thu, 13 May 2021 06:27:26 +0000 http://legacy-ventures.com/?p=2819

The return of big events and reasons to be optimistic.

There is no doubt that the Coronavirus pandemic has had a devastating impact globally. With businesses, travel, tourism and entire economies shut down. Not to mention the millions of lives lost—it has been a difficult period for us all.  

However, with global vaccine programs making significant progress as well as the natural immunity built up within populations, the world is slowly starting to open up again. There are definite signs for optimism and hopefully, we can all return to some sense of normalcy very soon. 

To demonstrate how close we may be, this post will look at some of the large events popping up all over the world.  

New Zealand

New Zealand has been globally applauded for how they have managed the Coronavirus outbreak. Of course, being sparsely populated and somewhat geographically isolated has helped. However, a combination of swift lockdown measures, border closures and track and trace efforts have all but eradicated the virus from New Zealand. In fact, masks are rarely worn in New Zealand and there are no social distancing measures in force.

As a result, New Zealand has been able to put on a number of events attended by large crowds. Just a couple of weeks back, more than 50,000 fans packed into New Zealand’s largest sports stadium, Eden Park, to watch the band Six60 perform. This is believed to be the largest concert since the start of the pandemic.

With no social distancing requirements in place, this is a reminder of what life used to be like and a sign of what we can expect globally in the future. To add to this optimism, New Zealand has recently announced a travel bubble with neighbours Australia. We won’t go into travel bubbles too much here as that is a topic for a future post!

Australia

Australia, like their Kiwi neighbours, has had a relatively successful response to the pandemic. At the time of writing, only a couple hundred reported cases remain nationwide.

It’s no surprise then, that Australia is starting to open up to larger gatherings. What is surprising, however, is the size of these gatherings.

On April 25th, over 78,000 people attended an Aussie Rules Football match between the Collingwood Magpies and Essendon Bombers. This is thought to be the largest crowd at any sporting event since the pandemic struck.

The venue wasn’t at maximum capacity, however. The Melbourne Cricket Ground, where the game was played, can hold up to 100,000 people. Authorities capped attendance at 85% to allow for some social distancing to take place.

Spain

With those large-scale events covered, we can now take a look at a few smaller pilot events in some of the nations most heavily impacted by the virus.

First, we turn to Spain. Spain was rocked by the virus with over 3.5m recorded cases. Nonetheless, there is still reason for optimism in Spain. Their vaccine program is making good progress, the monthly death toll has fallen to the lowest point since last summer and they plan to welcome more tourists from June.

With this in mind, small-scale experiments are starting. On 27th March, 5,000 people attended a concert at Barcelona's Palau Sant Jordi arena as part of a series of pilot events designed to test the effectiveness of rapid Coronavirus testing as a way of preventing infections at large events.

2 weeks later and only 6 people tested positive for Coronavirus. This was generally viewed as a success, as this was a lower infection rate than the general population.

United Kingdom

With over half the population of the UK having received their first dose of the vaccine, there is cause for optimism here too. The British government has recently relaxed strict lockdown measures, with the goal to end social contact restrictions by June 21st.

With this in mind, some smaller gatherings have been authorised. The league cup final, which saw Manchester City beat Tottenham Hotspur 1-0 on the 25th of April, was played in front of 8,000 fans. The plan is to allow 21,000 fans at the FA Cup final on the 15th of May. Anyone in attendance will need to prove they have had a negative lateral flow Covid test 36 hours prior to arrival.

It’s not just sporting events that are opening up either. A recent experimental concert in Liverpool allowed 5,000 music lovers to attend, with the only condition of entry being a recent negative Covid test. The gig required no social distancing or masks and was designed to test how large events can be re-introduced.

Netherlands

Despite a recent rise of cases in the Netherlands, over 1,500 people packed into a music event in the Dutch town of Biddinghiuzen. All attendees presented a negative test and masks were mandated. However, many decided to remove them. Motion sensors were used to track the participants' movements around the venue to better research how transmission may occur at large gatherings.

China

Finally, to where it all started. Due to strict policies, China was able to keep a relative lid on the spread of Coronavirus despite being the first nation to be hit with the virus. Over months they have been slowly reopening their economy.

In fact, as far back as October In China, over 4,000 live concerts were held for the country’s National Day celebrations. Now larger venues and gatherings are starting to open up.

Where do we go next?

While these events are good news for local citizens wanting to return to normal life, these events should also give us all around the world hope that we are taking back control of our lives. Moving from a world of fear to one of optimism.

For those of us in the travel and events industry, these gatherings should be a further sign that mass travel will soon be back on the table.

The worst is surely behind us. Let’s stay safe and enjoy as the world gradually opens up once more!

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Why we are BULLISH about travel in 2021? https://legacy-ventures.com/2021/04/08/why-travel-in-2021/?utm_source=rss&utm_medium=rss&utm_campaign=why-travel-in-2021 https://legacy-ventures.com/2021/04/08/why-travel-in-2021/#respond Thu, 08 Apr 2021 12:46:27 +0000 http://legacy-ventures.com/?p=2804

Why we are BULLISH about travel in 2021?

From shuttered theatres to stalled shops to closed-down cinemas, many industries have suffered hits over the course of the pandemic. One of the hardest hit industries has of course been travel, as restrictions have stopped us from even leaving our house, let alone going abroad. According to the Air Transport Monthly Monitor for June 2020, Revenue Passenger Kilometres fell by -14.1% last February, -52.9%, in March and -94.3% in April.  

But all this doom and gloom and travel is likely to change very soon… along with this, we’ll also be discussing the ways travel can expand your mind and even help your health.

Positive signs

With the global vaccine rollout and falling cases, many of us are hoping to be back abroad soon. According to the New York Times, 552 million people have already been vaccinated around the globe at the time of writing, which is equivalent to 7.2 doses for every 100 people. Many countries are also already experiencing a resulting drop in case numbers and deaths, giving all of us hope for the future.

Speaking from a holiday perspective, many top destinations are already planning for the grand return of tourists and it looks like many people are excited to get away too. Since the government announced a specific date for the easing of international travel restrictions, travel companies have reported a surge in bookings.

If you’re looking for even more evidence that the world is preparing to go back to the way things used to be, even music festivals are being planned for the summer, many West End shows are already announcing return dates and the 2020 Olympics are still set to go ahead this summer at the time of writing.

When will travel return?

It’s difficult to put an exact date on the return of travel, given how many countries you’d need to examine to reach some kind of consensus. But there are signs that quite a few countries are preparing to open up again… 

In the UK, on the 2nd of March, a Global Travel Taskforce, including industry bodies, government departments and transport operators, met to discuss the safe return of travel. In the report on that meeting, it was explained that they were setting out a framework for the safe return of travel no earlier than the 17th of May. This lined up, as it was the exact date announced by Boris Johnson when an official map out of all restrictions was announced a while later. Other than that, all we know is that leisure travel restrictions will only be eased following a review by the aforementioned Global Travel Taskforce on the 12th of April (which is also the date when domestic holidays will be allowed again). 

On the 19th of March, Iceland announced that they will now be allowing in all travellers with a vaccine passport - Japan also recently announced digital vaccine passports to allow its citizens to travel, Cyprus and Portugal both stated that they will allow some tourists in from the 1st of May, while the US State Department lifted its “do not travel” global advisory back in August 2020. 

Besides the immediate need to get away (whether it’s for holidays or business experiences) that we’re all feeling right now, there are so many more benefits to travel, including: 

Immersive learning – Immersive learning, like the kind offered by Legacy Ventures, has a multitude of benefits. These include improvement in language skills, exposure to global hubs, gaining an understanding of international and/or foreign workspaces and the networking benefits that can come with working on a global level. 

Broadening your horizons and changing perspectives – It goes without saying that being exposed to other cultures and new environments allows you to broaden your horizons. Putting yourself into a new environment may also allow you to discover new sides of yourself, in terms of both the challenge of being fully immersed in a new culture and how you react to new experiences. Stepping out of your usual routine to go somewhere entirely new, both physically and mentally, is a unique experience that can really allow you to shake yourself up. Furthermore, experiencing other cultures and seeing how other people live can really help to change your perspective on your own life. 

Reducing stress – Travelling has also been shown to reduce stress significantly, which most likely explains the health benefits we’ll be discussing later. According to a 2018 Forbes article written by Jennifer Kester, surveyed women who travelled frequently were less likely to feel tense, depressed or tired. Lining up with this, the same article also states that people who go on holiday are frequently more satisfied with their health and well being overall. Getting away from the stresses of normal life for a while, with no responsibilities weighing down on you, can be one of the best things you could do to feel relaxed. 

Increasing creativity – There’s also evidence to suggest that international business trips can lead to increased levels of creativity in your workforce. A 2009 study by Indiana University showed that even the suggestion of something coming in from another place can boost this, as participants asked to solve a series of puzzles showed more creativity and were more likely to solve them when they were told that they’d been brought in from California. It’s also been proven that people who’ve lived in other countries generally have higher levels of creativity. 

Again, it all links back to going out of your comfort zone. 

Already thinking about international travel? We look forward to hearing from you.


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China update: Latest news on the pandemic https://legacy-ventures.com/2020/10/02/china-update-latest-news-on-the-pandemic/?utm_source=rss&utm_medium=rss&utm_campaign=china-update-latest-news-on-the-pandemic https://legacy-ventures.com/2020/10/02/china-update-latest-news-on-the-pandemic/#respond Fri, 02 Oct 2020 13:01:51 +0000 http://legacy-ventures.com/?p=2781

China update: Latest news on the pandemic

We have prepared a short recap of some of the updates regarding coronavirus and the current situation in China. Read more below…

Official Release About Number of Coronavirus Outbreak – Friday, 02/Oct/2020 

  •   As of October 02, there are 186 remaining infections in China

Travel

  • The demand for domestic travel has been soaring in China during the country’s Golden Week Holiday, which started on October 1, with 550 million of people expected to travel domesticallyThe travel sector in China is resuming full operation while implementing COVID-19 epidemic prevention and control. Tours both within and between Chinese provinces are booming.
  • Beijing will allow more visitors into its tourist sites during the upcoming Mid-Autumn Festival and the National Day holiday as the COVID-19 epidemic subsides. The tourism sites in the capital city will raise their daily cap from 50 percent to 75 percent of their maximum capacity in line with a guideline to speed up the recovery of domestic tourism. The city will continue to ensure that scenic spots use ticket reservation systems and enforce staggered admission times.
  • East China’s Shanghai registered a “pleasant recovery” in its tourism sector during this year’s Shanghai Tourism Festival, local authorities said on Sunday. During this year’s Shanghai Tourism Festival,  from Sept 12 to 27, the city’s tourist attractions registered 3.5 million visits, an increase of 28% month on month. The average occupancy rate of the city’s hotels stood at 64% during the period, up by 8%age points compared with the same period in August, which was already a heated travel season, the administration said.

Government Initiatives

  • China plans on accelerating the innovative development of its medical education, by building  a number of high-level public health schools in the country’s topnotch universities.
  • China will expand its coverage of affordable and convenient flu vaccinations and strengthen its contagious disease monitoring system as it enters the flu season, by requiring local authorities to lower vaccine prices for key groups-which include medical workers, children, the elderly and those with chronic diseases, increase the number of flu vaccination sites and lengthen their operating hours.
  • China’s annual COVID-19 vaccine production capacity is expected to reach 610 million doses by the end of this year and more than 1 billion doses in 2021, an official from the National Health Commission (NHC) announced on Sept. 29
  • The number of internet users in China has reached 940 million as of June, accounting for one-fifth of the world’s total. The internet penetration rate in China reached 67 percent, about 5 percentage points higher than the global average
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China update: Latest news on the pandemic https://legacy-ventures.com/2020/09/25/25-09-2020-china-update-latest-news-on-the-pandemic/?utm_source=rss&utm_medium=rss&utm_campaign=25-09-2020-china-update-latest-news-on-the-pandemic https://legacy-ventures.com/2020/09/25/25-09-2020-china-update-latest-news-on-the-pandemic/#respond Fri, 25 Sep 2020 14:12:02 +0000 http://legacy-ventures.com/?p=2773

China update: Latest news on the pandemic

We have prepared a short recap of some of the updates regarding coronavirus and the current situation in China. Read more below…

Official Release About Number of Coronavirus Outbreak – Friday, 25/Sep/2020 

  •   As of September 25, there are 167 remaining infections in China

Travel

  •  The demand for domestic travel has been soaring in China ahead of the country’s Golden Week Holiday, which will start on October 1. Chinese citizens are planning domestic travel and expect to go abroad as early as possible, hopefully by the end of 2020.

Government Initiatives

  • China’s Ministry of Culture and Tourism has recommended 300 rural tourism routes ahead of the upcoming Golden Week Holiday. According to the ministry, rural tourism has been gaining popularity among holidaymakers as they place more emphasis on safety. Due to the impact of COVID-19, tourists tend to choose shorter trips in order to spend less time travelling.

  • On Monday China released plans to build pilot free trade zones in the country’s capital Beijing, central China’s Hunan Province and east China’s Anhui Province. A plan to expand the pilot free trade zone in east China’s Zhejiang Province was also released.

Education

  • The first chartered flight since the coronavirus pandemic, carrying 400 Chinese students studying at Queen’s University Belfast, arrived at the Northern Ireland city on Saturday. The Qatar Airways flight left Beijing on Friday. Two thirds of the students are new students.
  • A total of 242 million students in China have returned to school as of Friday, accounting for 90 percent of the total number, which shows China’s education system has withstood a major test amid the COVID-19 pandemic.

Trade

  • Chinese hotel operator Huazhu is looking to acquire foreign hospitality chains as the rapid recovery of the country’s domestic travel market puts it at an advantage to their global peers. In the second quarter of the year, Huazhu’s occupancy rate reached 69%, compared to Hilton’s 22% and Marriott’s 14%.
  • Japan Airlines is offering more flights to Dalian, China. The Japanese carrier will be flying to the Chinese city from Tokyo’s Narita airport three times per week.
  • Alibaba Group’s online travel unit Fliggy has launched an RMB 10 billion (USD 1.48 billion) subsidy program, covering 100,000 hotels nationwide at the initial stage. The program will be extended to transportation and tourist sites before the National Day holiday in October. Holiday bookings have soared since last week, by 190% for hotel bookings and 160% for flight tickets on a week-on-week basis.
  • China’s hotel industry continues a march back to pre-pandemic performance levels. Hotels in China for the week ended September 12 had occupancy rates nearly 9% higher than they were for the same week in 2019, the first sign of year-over-year growth since the global pandemic.

 

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