Hughes The Wandering Investor

1. Auflage 2020
ISBN: 978-1-0983-2032-4
Verlag: BookBaby
Format: EPUB
Kopierschutz: PC/MAC/eReader/Tablet/DL/kein Kopierschutz

E-Book, Englisch, 546 Seiten

This book takes the reader on a unique journey around the world in a discussion about various economies, my personal adventures along the way, business outlooks and observations for each country, lists of recommended activities in each country with a focus on outdoor adventure experiences, and lessons learned in terms of both travel and business.

Autoren/Hrsg.

Hughes, Brendan

Leseproben

Introduction The door swung open and a violent rush of cool air poured in. I watched two tandems vanish in front of me. I looked down to check my gear one last time before putting my life in the hands of a man I had met just an hour prior. The group was surprisingly calm given the severity of the situation. Upon receiving a tap on the shoulder from the daredevil attached to my back, I knew it was my time. From our seated position, we navigated our way toward the open door by dragging our butts across the floor most likely similar to how a penguin would move along the ground on its stomach. As I sat in the doorway of the tiny airplane, my feet dangled over the edge as the sobering breeze hit me harder than a Randy Johnson fastball. Those few brief seconds of looking out over the snow-covered mountains from 12,000 feet were among the most surreal of my life. Fear might have overwhelmed me in that moment, but the picturesque snowcapped mountain background diverted my attention. Then I was nudged out of the small airplane, and we performed a perfectly executed backflip before locking into our free fall position and plummeted toward the ground at a speed nearing 200 miles per hour. I have no words to describe that 60-second free fall other than the pinnacle of exhilaration and feeling as though I was floating on top of the world. I posed for pictures from the in-air photographer and took in the stunning view of the area around Queenstown, New Zealand. I still replay in my head the series of events, as it does not get much better than that free fall. I was then abruptly yanked as the parachute opened and filled, a huge relief, and that’s where the real adventure began. I doubt whether the plane should have gone out that day given the high winds that threw us around like an older brother does to a younger sibling. There were moments during the ensuing minutes where I was not certain if we were going to land safely, much less land anywhere close to our intended target. The reportedly 1,000 jumps done by each NZONE Tandem Master did not quell the doubts I had during that descent. I became a bit nauseous as we were jostled left, then right, then down 30 feet (similar sequences would be replayed). Much to my surprise, we were suddenly just 1,000 feet from the ground and rapidly closing in on our desired destination. I readied my feet before making what turned out to be a smooth landing, all things considered. Looking up at the sky, I realized that my life had just changed forever. This officially spawned my interest in adventure travel that would continue for years to come. My mother and I had flown to New Zealand seeking some travel adventures, and we were not disappointed. It turned out to be a destination of a lifetime. I also wanted to check out the business climate to evaluate any investment opportunities the small country might have to offer. My interest in international travel began two years before when I studied abroad in Antwerp, Belgium, in Summer 2010. The cultural differences in countries all over Europe fascinated me, and I quickly learned to appreciate simple things that I had at home in Arlington, Virginia. Things I had never reflected on before such as air conditioning on the metro I now perceived as a luxury. The trip to New Zealand and Australia further fueled my pursuit of outdoor adventure in terms of physical and cultural ambitions abroad. I want to thank my former girlfriend for criticizing me the year of my Australia and New Zealand trip, 2012, for not being brave enough to try activities such as skydiving. It seems rather silly at this time and we are still friends, but when she broke up with me not long before my trip Down Under, I made it a personal mission to attempt the most daring sports possible just because she said that I wouldn’t. Little did I know that these aspirations, combined with my thirst for worldwide cultural and financial knowledge, would lay the groundwork for the writing of this book. In planning a trip upon my graduation from James Madison University, my mother, who is close to 30 years my senior, and I needed to agree on a location that interested us both. I had initially wanted to venture to China, but my mom preferred a primarily English-speaking country. She also opposed the extreme pollution in China’s larger cities. Despite the New Zealand/Australia trip being a pricier option, we agreed that it would be an outstanding opportunity. I wanted to travel across the world because I was unsure as to when I would be able to get two consecutive weeks off work again. Additionally, these countries stood in stark contrast to many European countries in that they offered a plethora of outdoor options that I had never been exposed to. After conducting my research, I found that this excursion was surely an outdoor adventurer’s dream and would test the boundaries of what I thought I could do at the time. As we boarded the airplane in Los Angeles, anticipation coursed through my body. 14 hours later, after crossing the Pacific Ocean in the dark, lights suddenly appeared. My six-foot-four frame felt quite sore from the 6,482-mile flight to Auckland. I looked forward to stretching my legs and the adventures that lay ahead. The two major islands, North Island and South Island, are separated by the Cook Strait, which measures approximately 14 miles at the narrowest section. New Zealand has a total land area of 103,500 square miles, of which 9,300 are along the coast. The South Island contains the majority of the country’s land mass and is more mountainous than its northern counterpart, with 18 peaks over 9,800 feet. The country is subject to high levels of volcanic activity and we were diverted from the Christchurch airport while we were there due to several earthquakes in the area. Many scientists believe the country is long overdue for a major earthquake, assessing a high probability of the Alpine Fault rupturing in the next 50 years, which could cause catastrophic damage to the country. In fact, in 2016 the Christchurch area was hit with a 7.8-magnitude tremblor that left two people dead, followed by a 6.2-magnitude aftershock. Economy Auckland is the financial capital of the country and located on the North Island. Upon arrival at the Auckland Airport, one of my first observations was the extent to which the country was attempting to protect the agriculture industry. I saw numerous signs reminding those entering the country that attempting to bring in fruit such as oranges or bananas would result in hefty fines. If you don’t believe it, check the Internet for horror stories citing $400 fines for fruit that was forgotten in carry-ons. This fabulous country consisting of nearly 4.5 million people as of 2016 is a parliamentary democracy and has been one of the most economically successful countries in the Asia-Pacific region. Extensive deregulation and privatization that occurred in the 1980s and 1990s proved to be a turning point for the country’s economy. The World Bank gives the country high marks in terms of ease of doing business, starting a business, registering property, and obtaining credit, which were all ranked number one in 2015. In fact, with no minimum capital required, it can take as little as one day to start a business there. Compare this to 35 days in Libya, along with a minimum capital requirement amounting to a whopping 33.18% of income per capita as of 2015. New Zealand has the lowest subsidies among all Organization for Economic Cooperation and Development (OECD) countries; it removed all farming subsidies more than three decades ago, which provided a huge tailwind for the agriculture industry (maybe the United States should take note). The country had a 2016 average tariff rate of 1.4%, compared to 1.5% for the United States, along with low barriers for nontariff goods. The overall tax burden in 2016 amounted to 32.1% of total domestic income, compared to 25.4% in the United States. New Zealand receives high marks for transparency and places a heavy emphasis on providing a judicial system that is free of corruption. According to The World Factbook, the country has managed to keep public debt to 33.5% of GDP as of mid-2016 which is relatively low compared to many other developed nations. The service sector of the New Zealand economy accounted for 63% of GDP in 2013. Major contributors include rental, hiring, and real estate services (13.3% of 2015 GDP), manufacturing (10.1% of GDP), and agriculture, forestry, and fishing (6.2% of GDP). The World Bank ranks New Zealand 8th out of 120 countries in terms of natural capital per capita, which is only behind petroleum-exporting countries. The country has access to plentiful clean water and productive soil, along with a moderate climate that is suited for agriculture and humans, substantial petroleum and mineral reserves, and an impressive expanse of biodiversity. As of mid-2016, and relative to other developed countries, New Zealand had achieved an impressive 3.5% trailing GDP growth rate. New Zealand has kept unemployment low at 5.1% as of 2016. In the financial sector, it operates the New Zealand Exchange, NZX, and recognizes the New Zealand dollar as the formal currency. As previously mentioned, tourism is a major strength of the New Zealand economy due to the beautiful scenery and wealth of outdoor options. Barring temporary setbacks from environmental disasters such as earthquakes, I would expect this industry to continue to perform well for years to come. According to the OECD, New Zealand ranked in the top 25 out of 70 countries in reading, science, and math as of 2016. I would...