As I’m traveling the world at the moment visiting a different city on a different continent almost every day, it’s harder to write a daily blog! This one is written at 40,000 feet over Africa. I’m very lucky to see different cultures, to work with our enthusiastic teams around the world and see deVere develop as a company. It’s interesting to reflect on how the ‘deVere World’ is developing.
The US presents an incredible opportunity to us as a company. Despite all the development that the US obviously has, their legal structure has suffocated development of good tax efficient investment products. Our challenge is to introduce those products to the market but not to be suffocated by those same legal constraints.
Africa is the new frontier; the new opportunity. Expats are pouring in and the continent is developing at amazing speed. Africa itself has its own challenges but is a beautiful vast continent with incredible natural resources. Our Regional Manager, Craig Featherby says ‘This is our time!’ Africa certainly has amazing potential.
The growth in the Middle East is fantastic to see. Backed by its vast oil resources, it is invested heavily in its future. Dubai and Abu Dhabi are, in particular, developing into two of the most amazing cities in the world. Companies fed up of lack of opportunities, high taxes and red tape are moving. Switzerland and the Middle East are the biggest beneficiaries.
Western Europe may have its issues but with its highly skilled workforce and infrastructure in place, there are 300 million people refusing to give in to a perceived crisis. In the financial services industry change is afoot and at quite a speed. We believe as a company only the nimble will survive.
The Far East has the potential to move the world economy in its direction. With its vast hard working populations and its ever improving skills it’s hard to deny that Asia is the future. There is a buzz and energy about Asia and you feel it’s only a matter of time before China over takes the US as the world’s largest economy.
Eastern Europe has in many ways had it tougher than most; that has built up resilience that you feel as soon as you land. At least 50% of the population are now grabbing the opportunity that capitalism can bring and you feel that energy particularly in Moscow.
On a personal front, traveling is fascinating and of course sometimes tiring as you try to sleep on planes, exercising whenever you can, and trying to eat good food wherever possible. But I can’t help smile and say, wow, this is a challenging and exciting world we live in.