While summer is still in full swing, brands have released their Fall/Winter 2023 campaigns with some offering a range of monochromatic images which perhaps signals the seasonless appeal brands are aiming to shift their artistic direction towards. While some opt to focus key pieces from their collections, others references a time gone by — from Emporio Armani’s “Teddy Boy” to the power of Versace’s 80s-inspired structured pieces.
Celine
Perhaps is it indeed the era of the “Nepo Baby” as both Kaia Gerber (daughter of supermodel Cindy Crawford) and Levon Hawke (son of Ethan Hawke and Uma Thurman) front Celine’s Fall/Winter 2023 campaign. Titled “Portrait of an Actor,” black-and-white imagery depicts Hawke against the New York city skyline while Gerber is photographed highlighting timeless pieces from the collection, including the sleek Newspaper Triomphe Bag. According to Hypebae, creative Director Hedi Slimane’s reasoning for the style of photography is because “the monochromatic imagery offers a focused look at the seasonal products, capturing Gerber in a series of classic looks”.
Emporio Armani
Emporio Armani referenced vintage magazines from the 80’s for their Fall/Winter 23-24 campaign. Specifically Emporio Armani Magazine, which was renowned for its visionarily eclectic imagery. Photographer Gregory Harris opted for film-like black-and-white photography to highlight Emporio Armani’s latest pieces which include a selection of watches, accessories, and jewellery. Actor Nicolas Maupas echo’s the brand’s take on the “teddy boy aesthetic” with a leather flight jacket and round-toe boots; details that are ”evocative of the past,” reports Hybebeast.
Versace
At Versace, demure took a backseat and was replaced instead with a black and white showcase that highlighted Versace’s penchant for delivering strong tailoring. Models in black ensembles evoked strenghth and elegance in looks that featured exaggerated shoulders reminiscent of the 80s-style “power-dressing”. Donatella Versace shares, “This campaign celebrates everything I love about Versace: The power, the tailoring, the attitude. I love black and white images that really showcase the iconic silhouette of the season and the color pictures that bring the collection to life in the heart of Milan. On set, I love that the models felt strong, empowered and fierce — exactly how you should feel when you wear Versace.”
Loro Piana
At Loro Piana it was “elegant moments” as Glen Luchford captured Loro Piana models in a display that exudes “the artful craft of living life with grace”. According to FashionGoneRogue, Luchford showcases the sentimental and optimistic moments that fill our lives in this intimate series of images that bring a relatable authenticity to the campaign as if we are peeking into their personal moments”.
The last thing you want to worry about while enjoying the sun, sea and sand is your watch. Or watches. The key to horological peace of mind is selecting watches with a certain degree of toughness. A tool watch, in other words. Obviously, excellent water-resistance is a must and that is usually shorthand for robustness in all areas. Usually. To take the guess-work out of the equation, we have selected seven tickers that check all the right boxes, especially if you are trying to be low-key. On the other hand, maybe you want to mix it up a little and laugh in the face of danger – we have selected one watch that fulfills that need too. No prizes for guessing which one it is.
Longines Hydroconquest
The HydroConquest line is dedicated high performance combining technical innovation with elegance. The timepiece is water-resistant to 30 bar and the glass is made from a scratch-resistant sapphire crystal, with several layers of anti-reflective coating on both sides. The Longines Sport Collection mirrors Longines’ tradition characterising elegance and performance in its timepieces.
Grand Seiko Evolution 9 Collection Spring Drive 5 Days Diver’s 200m (SLAGAO15)
Grand Seiko is focussed on making beautiful watches and the smooth action of the Spring Drive is undeniable. Grand Seiko did not dissapoint on the beauty front. Inspired by a particular aspect of the oceans that surround the Japanese archipelago, the dial’s colour is deep black and has a strongly patterned surface. The ceramic rotating bezel is crafted with durability in mind, to protect the watch from being scratched while the high-intensity Titanium is intended to be more impervious to scratches and corrosion than stainless steel.
Tudor Ranger
The Tudor Ranger is a tool watch celebrating the spirit of daring adventure, complete with Manufacture Calibre MT5402, a 39-millimetre case and a clasp with rapid adjustment system. The timepiece comes from a tradition of a robust, practical, and affordable instruments. The Ranger model is equipped with Manufacture Calibre MT5402. Its construction has been designed to ensure robustness, longevity, reliability and precision due to its variable-inertia balance, which is held in place by a sturdy traversing bridge with two points of fixation.
Seiko Prospex King Sumo (SPB321J)
Seiko Prospex timepieces are designed to be practical, reliable and durable — meeting the high standards required in extreme environments for sports lovers and adventure seekers alike. The watch’s “substantial and strong” shape has earned it the name “Sumo” because of its size and the 12 o’clock marker. This latest design has been updated with new features, including a ceramic bezel and super hard coating on the case and bracelet for durability. A new three row bracelet has been specifically made for this model, while the clasp has also been modernised. The dial features a fine pressed pattern dial with gradations of blue.
Luminox Pacific Diver Chronograph
Luminox’s strong ties to the Pacific can also be traced back to its origins, where it was founded in the town of San Rafael, California, USA, located along the Pacific Coast. The new Pacific Diver Chronograph Series 3140 comes in nine different configurations, with colours never seen before in prior Luminox watches alongside a uni-directional rotating dive bezel and a water-resistance of 200 metres.
Rado Captain Cook
The Rado Captain Cook is a natural choice for modern explorers. Its vintage details, and up-to-date features make it the perfect sartorial accessory for both men and women. The thin, stylish 43 mm stainless steel case features a polished blue high-tech ceramic inlay on the bezel, complementing the silver-to-blue gradient dial. Inside, the new, thinner R801 automatic movement, with 37 jewels, five hands and 59 hours of power reserve exceeds standard test requirements from three to five positions for higher accuracy.
Franck Muller Vanguard Skeleton Color Dreams
Bright, colourful and fun, the collection shows eight colors of the famous Franck Muller Color Dreams in three different versions. The Vanguard Skeleton Color Dreams is showcased in a black carbon Vanguard case, brush titanium or stainless steel case. To allow a rainbow of colors, the satin bridges have been made in anodized aluminum. They have been designed to accentuate the architecture of the piece, which is very strong. The balanced design of the Vanguard Skeleton Color Dreams illustrates the passion for crafts and art of details, characteristic of the Franck Muller manufacture.
As I stepped off the seaplane onto the wooden dock, my heart skipped a beat with excitement. I had arrived at the Six Senses Laamu in the Maldives, and from the very first moment, it felt like I had stepped into paradise on Earth. The gentle breeze carried the scent of salty sea air mixed with tropical flowers, and I knew this would be an experience like no other.
Sight:
Six Senses Laamu The Maldives
The moment I laid eyes on the resort, I was mesmerized by its beauty. My overwater villa stood above crystal-clear turquoise waters, and from my private deck, I could see colourful fish swimming gracefully beneath me. The lush green palm trees swayed in harmony with the ocean breeze, and the sunsets painted the sky in a breathtaking canvas of warm hues each evening. The sight of the endless ocean meeting the horizon was both humbling and invigorating, reminding me of the vastness of the world and the wonders it held.
Six Senses Laamu The Maldives
Sound:
Six Senses Laamu The Maldives
As I walked along the sandy pathways, the soft crunch of sand beneath my feet welcomed me to this idyllic haven. The gentle lapping of waves against the stilts of the villa lulled me into a peaceful trance. Each night, the soothing melodies of the resident musicians playing traditional Maldivian music by the beachside bonfire created a magical atmosphere. And when I submerged myself into the underwater world during a snorkelling adventure, the sound of silence below the surface was enchanting—a symphony of tranquillity.
Taste:
Six Senses Laamu The Maldives
The dining experiences here were nothing short of divine. The resort's culinary team skilfully crafted dishes using the freshest seafood and organic produce. Each meal was a delightful journey of flavours that danced on my taste buds. From the tangy burst of ripe mangoes to the creamy richness of coconut-infused curries, every dish was a celebration of Maldivian cuisine. The resort’s signature “Island Breakfast,” served on a secluded sandbank, was a feast of tropical fruits, freshly baked pastries, and sparkling champagne—a breakfast fit for royalty.
Touch:
Six Senses Laamu The Maldives
Every surface I touched at the resort felt like silk against my skin. The softness of the cotton bed linens, the plushness of the beach towels, and the smoothness of the polished wooden furniture all contributed to the luxurious experience. The silky ocean water caressed my body during leisurely swims, and the warm sand moulded to the contours of my feet as I strolled along the shoreline. Even the spa treatments were a sensorial delight, as the skilled therapists eased away tension with gentle touches and aromatic oils.
Smell:
Six Senses Laamu The Maldives
The scents of the Maldives surrounded me at Six Senses. The fragrance of frangipani flowers adorned my villa, infusing the air with a sweet and floral perfume. At the spa, the aroma of essential oils like lavender and ylang-ylang relaxed my mind during massages and facials. The ocean breeze carried the faint scent of salt, a reminder of the vast seascape that embraced the resort. Each inhalation was a sensory journey, connecting me deeply with the natural wonders of this tropical paradise.
Six Senses Laamu The Maldives
In the embrace of Laamu, my senses came alive, and I found myself attuned to the beauty and magic of the world around me. This resort in the Indian Ocean truly transcended any expectations I had of a dreamy vacation, and it became an experience etched in my heart forever. The place where sight, sound, taste, touch, and smell combined in perfect harmony to create an enchanting symphony of sensations—a paradise on earth I will never forget.
Evergreen's Seahorse 57 Micro EDC Case is IP67 waterproof, impact and shock resistant, dustproof and uses a 3-step twist action lock for extra security and protection of your gear.
Last week The Kering Group made an acquisition bid towards Valentino, announcing that it bought a 30 percent stake in the Italian Maison for €1.7 billion in cash. The move is part of a broader strategic partnership with Qatari investment fund Mayhoola as Gucci — another house under the Kering umbrella — navigates its way during a transitional year towards growth. Gucci, which accounts for nearly half of Kering revenues, is in the midst of a managerial reshuffling having recently found a new creative director in Sabato De Sarno, replacing predecessor Alessandro Michele who had been at the helm of the Italian label since 2015.
Gucci’s New Creative Director Sabato De Sarno
ABC News reports that while Gucci sales “stagnate”, Kering achieved first-half revenues of €10.1 billion for the first half of the fiscal year of 2023, with two percent year-on-year increase both as reported and on a comparable basis. Part of the deal stipulates that Kering will have the option to buy 100 percent of Valentino by 2028. Valentino recorded revenues of €1.4 billion in 2022 perhaps partially due to the stability of Pierpaolo Piccoli’s role as creative director which he has helmed since 2008. News of the acquisition comes after Kering Beauté procured luxury fragrance house Creed from BlackRock Long Term Private Capital Europe in a strategic move that aims to push the company’s future growth in the beauty industry.
François-Henri Pinault, Chairman and CEO of Kering
Sabato De Sarno will make his debut at Gucci with the women’s Spring 2024 collection at the upcoming Milan Fashion Week in September. In an official statement, François-Henri Pinault, Chairman and CEO of Kering commented: “I am impressed with the evolution of Valentino under Mayhoola ownership…I am very pleased of this first step in our collaboration with Mayhoola to develop Valentino and pursue the very strong strategic journey of brand elevation that Jacopo Venturini will continue to lead.”
While Kering prepares for a potential acquisition, LVMH gears up for a different kind of takeover altogether. LVMH’s Bernard Arnault plans to sponsor the 2024 Summer Olympics in a first-of-its-kind deal that comes with a US$166 million (or approx. €150 million) payout and will include Chaumet medals and Moet Hennessy wine. With Paris being the fashion capital of the world and the home of haute couture, the Summer 2024 games are expected to draw international eyeballs from both sport and sartorial appreciators, something which LVMH aims to leverage for growth in brand awareness and potential affinity by athlete association. It is a move which Arnault aptly says, “will contribute to heightening the appeal of France around the world.”
LVMH plans to go beyond one-dimensional product-placement-style marketing to a commitment to having a holistic part to play from the design of the games’ from medals — by storied Parisian jeweler Chaumet — to the production of wines and spirits by Moet Hennessy that will be served to guests. An official statement released by LVMH states that between now and the opening ceremony, Louis Vuitton, Dior, and Berluti will also present different aspects of their engagement. While the scale may be a first of its kind, LVMH has a history of sponsorships with global sporting events with Hublot previously being the official timekeeper of the 2023 FIFA Women’s World Cup (Hublot’s third time serving in this role after the 2015 and 2019 tournaments). With the streaming of national sports being a multi-billion industry, LVMH aims to position itself in the realm of pop culture.
The partnership is the latest in a longstanding relationship that LVMH has with sports, having previously provided support for high-level sporting showcases and prestigious international competitions including Louis Vuitton designing in-game outfits and a trophy-carrying case for the Riot Game’s League of Legends World Championship in 2020 and the release of Dior x Air Jordan 1 Sneakers during the NBA All-Star weekend in 2020. “From the creation of numerous trophies to the design of trunks made specially to hold them, LVMH Maisons have long been partners to the world of sports, spanning a wide variety of disciplines, from tennis, rugby and basketball to soccer and automobile racing”, an official statement from LVMH’s website reads.
The Olympics are scheduled to take place from 26 July 2024 to 11 August 2024, and while Forbes reports that Parisians were initially apprehensive about the nation playing host with worries about traffic and increased rent, the Olympics will undoubtedly bring money into the French economy.
The OMEGA Seamaster Diver 300M Paris 2024 includes a stainless steel bracelet, but buyers can also purchase the Paris 2024 NATO straps to express support for the games.
The Oak & Iron Wave Pro Electric Pump's dual-motor design efficiently inflates large outdoor gear from 0 to 15 Psi in under 6.5 minutes and runs on a rechargeable battery than can fill up three paddle boards at once.
Eccentrica is also taking the 5.7-liter V12 and tuning its camshafts and valves, thereby boosting the output to 550 horsepower and 442.54 lb-ft of torque.
The KEF LS60 Wireless Lotus Edition supports a wide range of wireless streaming features such as Google Chromecast, Apple AirPlay 2, and standard Bluetooth 4.2 technology.
Signature Kitchen Suite also equips the 48-inch Dual-Fuel Pro Range with Wi-Fi connectivity for remote operations via a companion app on Google and iOS devices.
These Omega Sports Apple-Branded Sneakers were custom-made for Apple employees back in the mid-90s and feature an all-white upper with a vintage rainbow Apple logo on the lateral quarter and on the tongue.
The Crystal Residence, a digital marvel crafted with real-world applicability in mind, boasts a reflective exterior, sleek lines, and mirrored surfaces that make it gleam under the sun.
How is your summer going so far? Are you like most folks who are out on excursions at the beach, lakes, rivers, or maybe abroad? Hiking and camping are also…
The LEGO Ideas Tree House is a nostalgic treat for folks who experienced the real thing firsthand when they were kids and want to share it with the younger generation.
Caro in the 50th Rolex Fastnet Race. Photo: Luca Butto
The Swiss entry Caro, a Botin 52, joins an illustrious list of yachts that have won the 50th edition of the Rolex Fastnet Race. Max Klink’s crew have proven themselves worthy amongst the largest fleet ever to participate in the event’s century-long history at 430 yachts. The Rolex Fastnet Race is known for being an examination of determination and endurance. The 2023 iteration has been no exception with a tumultuous race course filled with obstacles ranging from the arduously extreme to the frustratingly benign.
Max Klink and the Caro crew. Photo: Luca Butto
The Fastnet Challenge Cup is awarded to the overall winner of the Rolex Fastnet Race based on time correction. Victory goes to the crew with both the skills and tenacity to race their specific yacht at its full potential, readily adapting to whatever the weather or sea conditions may be while sustaining a high level of focus across the long 695nm course from Cowes, England to Cherbourg, France. Luck is undeniably paramount as well considering how the wind may not always blow on course.
Founded in 1925, the Fastnet Race is organised by Royal Ocean Racing Club. Rolex has been the official event partner since 2001, the biennial offshore race standing as testament to the Swiss watchmaker’s 60 year romance with the sport of yachting.
A version of this article was first published on Yacht Style.
Contrapuntal House measures 5,389 square feet and hosts the two-story "Contrapuntal Performance Hall" which has a concert hall on the first and an 8,000-title custom library on the second.
VST Select's TREK Aluminum Suitcases comes in a heavy-duty aluminum-magnesium alloy shell with reinforced corners with a telescopic handle, zipperless closure, TSA-approved combination locks, and anti-microbial fabric lining.
Even though companies market their mobile devices with audio enhancement technologies on board, the size of the speakers means the volume can only go so high. Hence, it’s best to…
Little House in the Pastizal boasts scenic views of San Roque Lake and its elevated structure promotes sustainable methods including the collection of rainwater and free water drainage.
The water-resistant Tomtoc Explorer-A54 Crossbody Sling Bag has an interior that can fit an 11-inch iPad or a MacBook 13", wallets, notebooks, a water bottle or umbrella, and has a quick-access front pocket and an invisible zipped back pocket.
Among her many honours, actress Gwyneth Paltrow has won an Academy Award, a Golden Globe, and a Primetime Emmy. She was renowned in her early days for being the face of Estée Lauder. More recently, her role in Marvel Cinematic Universe made her even more notable. Of course, her acting chops in Shakespeare in Love, Seven, and The Talented Mr Ripley garnered her international fame, too.
Modern aesthetics in the living space. Image: Compass.
Today, as a busy mother and business owner, the beautiful blonde has put up her childhood Santa Monica home for sale. At a price of US$ 17.5 million, the mansion was where Gwyneth grew up. The house has undergone extensive remodelling and is equipped with the latest technology, such as solar panels, backup generators, security cameras, and electronically guarded entries.
There are six bedrooms and six-and-a-half bathrooms in the 6,887-square-foot house. The large living area with a fireplace, the theatre room, and the guest bedroom are all accessible from the formal glass-enclosed foyer. The chef’s kitchen is enormous and well-lit, and it includes a dining space, a central marble island, and top-of-the-line Wolf and Sub-zero appliances.
The second level is dedicated to bedrooms, with the spacious master suite at the top including two bathrooms, a plush walk-in closet, and a balcony with pool views.
A rarity in Santa Monica, the almost half-acre site is covered in truly magnificent grounds. The property, a tropical wonderland, has winding walks, fountains, mature trees, palms, two firepits, numerous outdoor entertaining places, and a pool and spa with Balinese influences. The two-storey guesthouse has an office, a bedroom, a sauna, a gym, and a kitchen.
The three-vehicle garage is configured as a glass-walled showcase, making it ideal for automobile enthusiasts. The estate is completely gated and provides peace and quiet with a VIP buyer’s demands. King Gillette, the company that makes razor blades, originally constructed the Gillette Regent Square community in Santa Monica. The area contains some of the largest residences in the well-liked Los Angeles beach city and is sought-after for its larger lots, mature street trees, and closeness to Palisades Park on the bluffs overlooking the Pacific Ocean.
A fully-equipped kitchen with an island counter. Image: Compass.
The Riviera Country Club, the Brentwood Country Club, and the eateries and stores of the Brentwood Country Mart are a few nearby options for entertainment. Hollywood, Downtown Los Angeles, and all of LA’s attractions are conveniently accessible via the freeway.
The listing is held by Robert Lawrence Edie of Compass.
Love him or hate him, Elon Musk is a visionary, albeit for better or worse. Twitter has announced a change to its logo, from the recognisable blue bird to an “interim X” design. While the shake-up has been met with dissension online, the choice of logo is all too familiar. “X” now follows the likes of some of Musk’s other six companies including “SpaceX” and “xAi”; an alphabet he has a longstanding affinity with. In 2017, Musk repurchased the domain name X.com from PayPal later explaining he did so because “it has great sentimental value”. The removal of the “Twitter bird” logo (which has been part of the social media platform’s imagery since 2006) may further damage Twitter’s already precarious reputation. CNBC reports state “Twitter’s rebrand is a reminder that Elon Musk, not Threads or any other app, is and has always been the most likely “Twitter killer”.
The news of Twitter’s rebranding comes after the announcement of Musk’s new company xAI that the billionaire aims to be the alternative to Open AI’s Chat GPT and competing with Google’s Bard, and other similar platforms. According to Musk, xAi’s goal is to “understand the true nature of the universe”. Bloomberg reports that the start-up is slated to include 12 industry experts as first employees including former employees at Google’s DeepMind, Microsoft, and Tesla.
This is the latest in Elon Musk’s reign over social media and AI. With some of his more recent controversial decisions, it is easy to forget how much of an impact Musk has in the realm of reality. For instance, at the start of the millennium, Musk formed PayPal by merging his online bank X.com with the software company Confinity. Despite a rough start with PayPal being referred to as one of the “worst business ideas” of 1999, it would go on to revolutionise the future of managing money and online banking highlighting yet another instance why Musk is ahead of his time.
In 2003, the now famous electric car company Tesla, was formed and the following year Musk became the company’s largest shareholder with a US$6.5 million investment before becoming CEO in 2008. This would culminate to a point In 2021 when Tesla was valued at over US$1 trillion.
That being said, Musk’s entrepreneurial prowess comes with a volatile track record. His aggressive start-up approach and rush to scale particularly with Tesla and Twitter often comes at the expense of his softwear engineers. His US$44 billion acquisition of Twitter in 2022 saw 50 Tesla employees move to Twitter. CNBC reported that employees were instructed to work 12-hour shifts to meet Musk’s aggressive deadlines. On May 20, 2018, Musk tweeted: “Nothing stopping Tesla team at our car plant from voting union. Could do so tmrw if they wanted. But why pay union dues and give up stock options for nothing? Our safety record is 2X better than when plant was UAW & everybody already gets healthcare.” This infamous Tweet would later come with a court-ordered ruling stating that Musk “unlawfully threatened to take away employees’ stock options”.
As it stands, BusinessInsider states that Twitter’s advertising revenue has been cut in half since Musk took over with Art Invest marking down its Twitter valuation by 47 percent. As for Tesla, the Union Bank of Switzerland (UBS) downgarded Tesla’s valuation after reporting that price cuts were taking their toll on margins despite “getting it right” on pricing, production and technology. In the year’s second quarter Tesla achieved US$ 24.9 billion in sales and an US$0.91 earnings per share which is why Forbes called its US$820 billion valuation a “disconenct from reality”.
A financial funk is a stituation Musk is no stranger to, running out of cash in 2010 after “investing his last cent in his business”. While his circumstances may not be as dire in 2023, the legacy he is leaving behind (for this generation and the next) may be as remarkable as it is divisive.
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Around twenty years ago, someone looking to invest in property would not have to think twice about where prime real estate would lie. The real estate market was monopolised not beyond a few key cities such as Los Angeles, New York, London, Paris, and Tokyo. In 2023, however, the real estate investment landscape has diversified greatly with wealthy individuals buying more properties all over the globe than ever before.
While better returns will always be part of the equation in choosing the kind of properties to acquire, market trends also show how the world’s wealthiest are also simply looking to achieve a better quality of life and more interesting, novel experiences.
The Authenticity Of Foreign Destinations
Photo: Engjell Gjepali
Trends show that the wealthy are not looking for new heights of luxury per se. Luxurious holiday destinations like Monaco, Paris, London and New York already cater to those impulses. Rather, a burgeoning desire is to experience that of the authentic. The wealthy want to get into the trenches, so to speak, and see what living on a French vineyard or a Moorish castle estate is really like. Buying domestically cannot always recreate these experiences. A mansion in California’s Napa Valley is not the same as visiting traditional Italian villages in Tuscany.
Geographical Amenities
The wealthy are also buying properties overseas so that they have a convenient base near world-renowned amenities and attractions. Wealthy Americans, for instance, want properties along the French Riviera for easy access to international events like Cannes Film Festival and the many beautiful harbours for their yachts with a view of the Côte d’Azur. At the same time, British and French nouveau-riche are seeking mansions up in the hills of Hollywood for closer access to movie studios and a social life near celebrities.
In some cases, it’s just a matter of being near what isn’t available elsewhere in the world. For example, owning a hideaway in the Andes or a Caribbean villa becomes a popular investment for wealthy Swedes who want to feel the Barbadian sun on their skin.
Varying Tax Regimes
Tax incentives have also encouraged hundreds of Americans to flock to Puerto Rico in search of a better life, according to Dorado Beach, a Caribbean residential resort.
In 2019, US parliament passed an act allowing American citizens to become “Resident Individual Investors,” shielding them from Puerto Rico taxes for around half of the year. The new tax policy, Dorado Beach says, make it more attractive for Americans to live and work on the island, creating an urgency to snap up available properties before prices rise.
Of course, Puerto Rico isn’t the only country offering the wealthy various tax advantages. Monaco, Spain and several other European nations are looking for ways to attract investments. Dorado Beach says that the Puerto Rico tax experiment is turning the small island into a mecca for worldwide services exports, encouraging more people to emigrate and experience the financial benefits for themselves. “The US Internal Revenue Code generously exempts Puerto Rico sourced income from federal income taxes,“ Dorado Beach reports. “Puerto Rican residents pay minimal or possibly no taxes on interest, dividends and certain capital gains.”
Diversification
At the same time, diversification is playing a role. Many wealthy people want to spread out their real estate investments to avoid the sort of collapses seen in places like Detroit. Reducing risk in their home country is a priority.
The reasons for this come down to basic economics. Any number of factors could lead to wealth destruction at home, increasing the allure of investing abroad.
Political instability, for instance, could lead to soaring real estate prices in one year and collapsing prices in the next. Currency fluctuation could also be an issue, particularly if the home currency loses value consistently over time. Domestic assets tied up in US Dollars, Pounds or Euros could see their relative purchasing power against the Australian Dollar or the Chinese Yuan fall significantly.
There are local economic downturns too, like the one recently experienced in the UK and Europe. Investors want to make sure their assets are out of harm’s way when regional events like these occur.
Healthcare Benefits
The wealthy are also buying properties overseas to gain access to better healthcare. Organisational failures in Western countries mean that obtaining medical attention at a reasonable price is becoming more challenging. Even insured individuals in the U.S. can sometimes struggle to get rapid access to the treatment they need without jumping through hoops
The situation in foreign countries is different. Clinics remain relatively empty and local doctors often receive training at Western schools. The result is high-quality care that feels personalized and easy to access without excessive costs, deductibles, or insurance fees. A lot of wealthy are choosing to simply pay out of pocket when they require care, trying their luck.
Securing Residency
Photo: Ries Bosch
Lastly, many of the wealthy are buying properties overseas as a way to achieve residency, gaining access to multiple passports. Some see it as a way to keep their options open. If something were to happen in the US, Canada or Germany, they could instantly move to the Maldives, Australia or Indonesia.
This option is particularly appealing to those who don’t want to own yachts and move from port to port through the high seas. Multiple residencies gives the freedom of remaining in specific countries for as long as they wish without needing to renew visas.
The threshold for obtaining residency permits through so-called “golden visas” can be relatively low. Most countries ask for around US$500,000 to be invested in local properties, with discounts if money is pumped into poorer areas. Ultimately, the reasons for this global property-buying binge are as diverse as the the types of billionaires out there themselves.
OUTU 6-in-1 multitool packs an adjustable wrench with a torque that can reach up to 65kg, a Philips head screwdriver, a bottle opener, a pry bar, a slotted screwdriver, a knife blade, and hex bit sleeve.
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Nestled like a treasure trove in the Indian Ocean, Sri Lanka beckons the discerning traveler with its stunning landscapes, rich history, and warm hospitality. The island’s allure is heightened by its three exclusive Relais & Chateaux resorts, each offering a unique sensory journey. From the serene Ceylon Tea Trails to the breathtaking Cape Weligama and the enchanting Wild Coast Tented Lodge, Sri Lanka’s luxury travel side is a realm of exquisite beauty and unforgettable experiences.
Ceylon Tea Trails: A Haven of Tranquility Amidst Verdant Hills
In the heart of Sri Lanka’s lush hill country, Ceylon Tea Trails offers an escape into serenity. Surrounded by emerald tea plantations and mist-covered hills, this resort invites travelers to indulge in the calming aroma of freshly brewed tea and immerse themselves in the rhythms of nature.
Guests are treated to a stay in elegantly restored colonial-era bungalows, each with its own unique charm and character. From the tasteful decor to the impeccable service, every aspect of Ceylon Tea Trails exudes refinement. Sipping a cup of the finest Ceylon tea while overlooking the manicured gardens and rolling hills is an experience that soothes the soul and leaves a lasting sense of tranquility.
Cape Weligama: Where Luxury Meets the Ocean
Perched atop a cliff, Cape Weligama presents a panoramic vista of the azure ocean below. The crashing waves create a symphony of sound that envelops visitors in a sense of wonder. The resort’s villas and suites offer spacious luxury, boasting private plunge pools and captivating views of the Indian Ocean.
For adventure-seekers, Cape Weligama is a gateway to exhilarating water sports, including snorkeling, surfing, and whale watching. After a day of exploration, guests can unwind with a gourmet meal that celebrates the island’s diverse culinary heritage, tantalizing taste buds with the vibrant flavors of Sri Lanka.
Wild Coast Tented Lodge: Embracing the Wilderness
Sri Lanka’s natural wonders come to life at the Wild Coast Tented Lodge. Nestled at the border of Yala National Park, this unique resort blends harmoniously with its untamed surroundings. Luxurious tents provide an authentic glamping experience, where the sounds of the wilderness serve as a lullaby.
The thrill of encountering wild elephants, elusive leopards, and colorful birdlife on safari is unparalleled. This immersive encounter with nature instills a profound appreciation for Sri Lanka’s diverse ecosystem and the need for its conservation.
Why Sri Lanka’s Luxury Travel Should be on Everyone’s Bucket List
Beyond the allure of these exquisite resorts, Sri Lanka, as a whole, is a destination that leaves an indelible mark on the soul. Its diverse landscapes range from pristine beaches to lush jungles and misty mountains, all packed into a relatively compact island. This geographical diversity enables travelers to embark on a whirlwind journey through various ecosystems within a few days.
The island’s storied history, visible through ancient temples, colonial architecture, and UNESCO World Heritage Sites like Sigiriya and the sacred city of Kandy, provides a sense of connection to the past. The locals’ warm smiles and genuine hospitality create a welcoming environment that makes visitors feel like cherished guests.
The country’s culinary delights are a delight for food enthusiasts, with a mix of spices, herbs, and fresh produce that elevates each dish to a unique experience. From fiery curries to delicate seafood, their cuisine is a celebration of flavors.
With its captivating beauty, rich history, and warm hospitality, Sri Lanka deserves a place on everyone’s bucket list. Whether you seek relaxation, adventure, or cultural immersion, Sri Lanka promises a sensory odyssey that will stay with you long after you bid the island farewell. Embark on this journey, and you’ll find yourself forever captivated by the magic of Resplendent Isle.
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