Tourism is our 3rd largest export after Iron Ore & Coal and employs 1 in 13 Australians. Suffering a fall in domestic and international tourists over the summer with bushfires across Australia, the Federal Government has announced a Tourism Recovery Package. Here is a detailed explanation of the funding and what it means for tourism in Australia.
Australia stands divided, unsure of whether to continue close ties with the USA and risk the loss of its largest trading power China or to continue to tow the line of Nationalism with the US. As part of a recent forum we participated in at the hashtag#AKBC2018 we are encouraged to look beyond bi-lateral relationships and consider multi-lateral partnerships. The TPP still has significant advantages for Australia, even without the US participation. We are pleased to hear Australia has joined the TPP and will step up to support our role in the APAC Region. This will help support $5.7Bn in Travel revenue (excl Education) and $4.1Bn in Education related Travel for Australia.
Masayoshi Son founded SoftBank Group in 1981 and comes from humble beginnings. Growing up on the southern Japanese island of Kyushu he was bullied as a child, because his family had come from Korea. Now he is one of the most respected leaders in the investment community having recently announced the $100 Billion Vision Fund. Estimated to be worth $18 Billion by Bloomberg, Masayoshi has backed some of the biggest names in Tech including Uber, Didi Chuxing, WeWork, Slack and Grab. The secret to his investment style is gun-senryaku, a Japanese expression that describes the way a flock of birds flies together. His hope, he says, is that portfolio companies will help one another and head off copycats. In Southeast Asia, for instance, SoftBank has encouraged Grab to form joint ventures with a handful of portfolio companies to help those startups break into the region. #startups#investments#venturecapital#privateequity