New World Citizenship Report 2023 shows HNWIs and mass affluent in search of freedom: CS Global Partners

London, April 26, 2023 (GLOBE NEWSWIRE) — The second edition of the annual World Citizenship Report, reveals how high-net-worth-individuals (HNWIs) and the mass affluent are in search of greater freedoms – whether that means being able to enjoy better social safety and security for oneself and family, increased access to better employment prospects and business opportunities or being able to live in territories with higher social and institutional stability – the post-Covid ‘normal’ has global citizens looking beyond the confines of their own borders when thinking about their own future, and the future of their families.

With so much change happening so rapidly around us – inflation, broader macroeconomic volatility, geopolitical instability, energy uncertainty – it can be challenging to keep up with how all these disparate factors coming to bear on the prevailing attitudes toward global citizenship.

The World Citizenship Report is the world’s first-ever endeavour in investigating the value of citizenship through the lens of the global citizen. It answers how can we keep abreast of the shifting kaleidoscope of citizenship values and priorities using the World Citizenship Index, an innovative tool that takes a holistic approach to rank the world’s citizenships across multiple dimensions.

The World Citizenship Index is the product of a research-driven approach that goes beyond ordinary concepts of passport strength by placing greater emphasis on the diverse attitudes regarding key facets of citizenship. Unlike other rating tools, the World Citizenship Index ranking is designed to reflect a citizenship’s value through the lens of the newest generation of global citizens: the mass affluent population.

Biggest motivators to invest in alternative citizenship include quality of life, safety and security and financial freedom
The World Citizenship Report measures 188 countries across five motivators that are most relevant among the newest generation of global citizens – Safety and Security, Economic Opportunity, Quality of Life, Global Mobility and Financial Freedom.

This year, the Quality of Life ranked in first position of the five pillars, overtaking both Physical Safety and Financial Freedom.

Quality of Life looks at territories’ ability to provide its citizens with essential services required for a good standard of living, including higher standards of education and healthcare facilities.

Monaco, Denmark and Hong Kong took the top three spots in the Quality of Life pillar.

The United States came in at 29th position. African countries took the bottom 10 positions, with Somalia taking 185th place.

We are unfortunately living through a period where the standard of living is falling at the fastest rate in over a generation.

At the end of 2022, the UK Office for Budget Responsibility reported that UK households are set to suffer a 7.1 per cent fall in living standards over the next two years, the largest decline in six decades. And, according to the latest United Nations Development Programme (UNDP) report published at the end of 2022, living conditions in 90 per cent of the world’s countries deteriorated in 2021 – something that hasn’t been seen since the height of the previous global recession caused by the financial crisis in 2007. Moreover, it marked the first consecutive year of decline in the 32-year history of the Human Development Index (HDI).
This data shows why quality of life is so highly coveted among global mass affluents, and indeed all individuals.

The Safety and Security motivator assesses how people in a certain country have the ability to enjoy greater social safety and security for themselves and their families and whether they have a safety net against being trapped in a territory with civil disorder.

Iceland took first place in the Safety and Security motivator, New Zealand came a close second place and Switzerland took third place. Afghanistan scored the lowest in this pillar.

Safety and Security remains an obvious top priority for the average mass affluent global citizen. This comes as no surprise given the uncertain state of the world – one need to look no further than the war in Ukraine as a painful reminder of the relative fragility of peace. Western nations now have a growing preoccupation or sense of danger around the prospect of war, having an active war so close to home compared with conflicts in Asia, Africa, and other parts of the world.

The Financial Freedom motivator measures the ability of a country to provide a favourable and stable regulatory climate for the establishment and functioning of businesses, as well as the holding of personal and business assets.

Denmark, New Zealand and Singapore took the first three spots in this pillar.

The growing desire for citizens to conduct their own financial affairs such as wealth management and estate planning without undue surveillance and burdensome regulations appears to be a feature of the current economic climate. While 43 per cent of World Citizenship Report survey respondents placed the heaviest emphasis on the employment opportunities typically associated with economic performance, those that placed importance on investments, estate planning, and wealth planning combined for a total of 37 per cent.

These sentiments reflect the growing perception that the rising costs of living and broader economic uncertainty are being accompanied by a creeping tax burden as state expenditures continue to escalate due to rocketing debt-servicing costs brought on by a tightening monetary landscape, rapid demographic changes, and other factors.

It must also be noted that governments themselves are being stressed by this tightening fiscal landscape due to the rising costs of servicing their debt – a factor that is fuelling the trend of rising tax burdens globally.

“In the 2022 edition of the World Citizenship Report, we only surveyed high-net-worth individuals (HNWI), this year, we expanded the survey to include a wider audience in order to gain a better perspective of what people prioritise in terms of their own nationality. The expanded audience of over 1000 participants included both HNWIs and the mass affluent from across the globe. Findings from the survey showed that while the research participants came from varied backgrounds and cultures, all with different needs and pain points, they all had one common goal: freedom,” concludes Micha Emmet, CEO of CS Global Partners. 

PR CS Global Partners
CS Global Partners
+44 (0) 207 318 4343
mildred.thabane@csglobalpartners.com

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Crurated Announces 2023 Exclusive Events

Hosted with renowned Producers and Chefs at some of the most prestigious restaurants, Domaines, and hotels Crurated events connect wine lovers to their favorite winemakers

Crurated Winemaker Dinner Featuring Wines from Domaine Pierre Girardin May 17 in NYC
May 17: Crurated will host an unforgettable evening of fine dining and exceptional wines at Legacy Records in New York City. The team, along with the winemaker Pierre-Vincent Girardin, will be serving a variety of wines from Domaine Pierre Girardin all in Magnum size; including Meursault Les Narvaux 2021, Corton-Charlemagne Grand Cru 2021, Pommard 1er Cru Les Rugiens Bas 2021, Vosne-Romanée 2020, Échezeaux Grand Cru 2019, Puligny-Montrachet 1er Cru Les Pucelles 2018, and Bâtard-Montrachet Grand Cru 2020. Participation in this exclusive event is for paying members and by invite only.
Crurated Winemaker Dinner July 11 with Pierre Vincent Girardin from Domaine Pierre Girardin
July 11: Ecologically inspired Sabina Ibiza welcomes Crurated and 16 attendees to their five-star clubhouse for a delicious lunch-time experience. Food will be served from restaurant La Paloma and guests will meet the producers and taste wines from Domaine Vincent Dancer and Domaine Pierre Girardin.
Crurated Winemaker Dinner at Asador Etxebarri October 6 2023.jpeg
October 6: Crurated will host an exclusive winemaker dinner for 12 guests at one of the most celebrated restaurants, Asador Etxebarri, located in the Basque Region, a global gastronomique center of the world. Meet the winemakers and taste a selection of wines from Pomerol’s La Conseillante and Champagne Pierre Péters. Guests will also enjoy a deliciously paired menu from Basque Chef Victor Arguinzoniz.
Crurated Event in Chamgane June 12 -14. Featuring dinner at Billecart-Salmon in Mareuil-sur-Aÿ.JPG
June 12-14: Join Crurated for a special trip for only 10 lucky guests to the Champagne region with visits to top estates. Attendees will also dine at family maisons and exclusive restaurants and meet producers that include Mathieu Roland-Billecart, CEO of Billecart-Salmon, Frédéric Rouzaud, owner of Louis Roederer, Alexandre Chartogne of Chartogne-Taillet, Raphaël Bérêche of Bérêche et Fils, Rodolphe Péters of Pierre Péters. Luxury accommodations will be provided by Residence Eisenhower.
Crurated Winemaker Dinner Featuring Wines from Domaine Vincent Dancer.jpeg
November 6-11: An exclusive group of wine lovers will have the chance to experience winemaker dinners in either Bangkok, Hong Kong, or Singapore with Vincent Dancer of Domaine Vincent Dancer.
Crurated Winemaker Dinner Nov 6 thru 11 in Asia with Vincent Dancer.jpeg
November 6-11: An exclusive group of wine lovers will have the chance to experience winemaker dinners in either Bangkok, Hong Kong, or Singapore with Vincent Dancer of Domaine Vincent Dancer.
Crurated Winemaker Dinner featuring Arnoux-Lachaux wines November 6 thru 11 in Asia
November 6-11: An exclusive group of wine lovers will have the chance to experience winemaker dinners in either Bangkok, Hong Kong, or Singapore with Charles Lachaux of Domaine Arnoux-Lachaux and Charles Lachaux
Crurated Winemaker Dinner November 6 thru 11 in Asia with Charles Lachaux
November 6-11: An exclusive group of wine lovers will have the chance to experience winemaker dinners in either Bangkok, Hong Kong, or Singapore with Charles Lachaux of Domaine Arnoux-Lachaux and Charles Lachaux

LONDON, April 26, 2023 (GLOBE NEWSWIRE) — Crurated, the London-based membership wine community designed to connect connoisseurs with world-class producers, today announced the 2023 schedule of events. Hosted at some of the most prestigious restaurants, Domaines, and hotels in the world, Crurated events connect members with their favorite winemakers. Event attendees also have the chance to taste tailored menus from world-renowned chefs in luxurious environments. To learn more or register visit https://crurated.com/events/.

“Our events are intimate affairs bringing together world renowned producers and the people who love their wines,” said Alfonso de Gaetano, Founder of Crurated. “Our team carefully crafts experiences that are unlike anything people have previously experienced. From one-on-one chats with winemakers to stays at some of the best locations on the planet and food from award winning chefs, these events are not to be missed.”

  • May 17: Crurated will host an unforgettable evening of fine dining and exceptional wines at Legacy Records in New York City. The team, along with the winemaker Pierre-Vincent Girardin, will be serving a variety of wines from Domaine Pierre Girardin all in Magnum size; including Meursault Les Narvaux 2021, Corton-Charlemagne Grand Cru 2021, Pommard 1er Cru Les Rugiens Bas 2021, Vosne-Romanée 2020, Échezeaux Grand Cru 2019, Puligny-Montrachet 1er Cru Les Pucelles 2018, and Bâtard-Montrachet Grand Cru 2020. Participation in this exclusive event is for paying members and by invite only.
  • June 12-14: Join Crurated for a special trip for only 10 lucky guests to the Champagne region with visits to top estates. Attendees will also dine at family maisons and exclusive restaurants and meet producers that include Mathieu Roland-Billecart, CEO of Billecart-Salmon, Frédéric Rouzaud, owner of Louis Roederer, Alexandre Chartogne of Chartogne-Taillet, Raphaël Bérêche of Bérêche et Fils, Rodolphe Péters of Pierre Péters. Luxury accommodations will be provided by Residence Eisenhower.
  • July 11: Ecologically inspired Sabina Ibiza welcomes Crurated and 16 attendees to their five-star clubhouse for a delicious lunch-time experience. Food will be served from restaurant La Paloma and guests will meet the producers and taste wines from Domaine Vincent Dancer and Domaine Pierre Girardin.
  • October 6: Crurated will host an exclusive winemaker dinner for 12 guests at one of the most celebrated restaurants, Asador Etxebarri, located in the Basque Region, a global gastronomique center of the world. Meet the winemakers and taste a selection of wines from Pomerol’s La Conseillante and Champagne Pierre Péters. Guests will also enjoy a deliciously paired menu from Basque Chef Victor Arguinzoniz.
  • November 6-11: An exclusive group of wine lovers will have the chance to experience winemaker dinners in either Bangkok, Hong Kong, or Singapore with Vincent Dancer of Domaine Vincent Dancer and Charles Lachaux of Domaine Arnoux-Lachaux and Charles Lachaux. More details about these exclusive events will be available in the coming weeks.

Watch the Crurated social media channels and register at Crurated.com to become a member and stay up to date.

About Crurated
Launched in 2021 with an emphasis on France and Italy, Crurated is a membership-based wine community designed to connect connoisseurs with world-class producers. A team of specialists provides personalized services and authentic experiences, while Crurated’s seamless logistics service guarantees quality and provenance thanks to secure wine cellar storage and innovative blockchain technology. To become a member visit crurated.com.

PR Contact
Michael Volpatt
Michael@larkinvolpatt.com
415.994.8864

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Fucha: China reveals arrest of Taiwan-based publisher on security grounds

China says it is investigating a Taiwan-based publisher for allegedly "endangering national security", in another move against Taiwan-linked individuals on the Chinese mainland.

Li Yanhe, who uses the pen name Fucha, published books critical of Beijing.

Beijing's confirmation of Mr Li's detention ends days of speculation about his whereabouts.

Taiwan has criticised China's "arbitrary arrests" of Taiwan residents as human rights breaches.

Confirmation of the publisher's arrest came a day after China said it would prosecute the founder of a pro-Taiwanese independence party for alleged secession.

Mr Li, the book publisher, was born in China and relocated to Taiwan in 2009. There, he set up Gusa Press, which has published books that are critical of Beijing.

Friends say Mr Li had arrived in China earlier this month to visit relatives and to take part in Qing Ming, the annual Chinese tomb-sweeping festival.

Reports that he was missing emerged about a week ago. Zhu Fenglian from China's Taiwan Affairs Office said Mr Li's rights would be respected during the investigation.

Dozens of writers, scholars and activists have called for his release.

The Taiwan Foreign Correspondents Club on Monday called in China to "respect the freedom of the press that it enshrines in its constitution, and to release all unjustly imprisoned media workers".

Mr Li's case has been widely compared with the disappearance of five Hong Kong booksellers in 2015 from a shop known for selling works critical of China.

They eventually turned up in the custody of mainland Chinese authorities, amid an investigation into their publishing business.

China's focus on Taiwan-linked individuals appears to have increased in recent times.

On Tuesday, Chinese authorities said they had completed an investigation into Taiwanese National Party founder Yang Chih-yuan and had put him under formal arrest.

The 32-year-old had been in China for unknown reasons. In August, he was arrested in the eastern Chinese city of Wenzhou on suspicion of "separatism".

At the time his detention was linked to a Chinese crackdown on "separatists" amid tensions over the then US House Speaker Nancy Pelosi's trip to Taiwan.

Chinese state media reports said he had been "poisoned by thoughts of Taiwan independence secessionism for a long time" and been "actively scheming" to work towards formal statehood for Taiwan.

Through his party, he had "actively planned and implemented" a series of events to "seek independence and reject unification".

State media also said that Mr Yang had advocated for Hong Kong's independence with other "separatist" forces.

The issue of "secession" is sensitive in China. Beijing sees Taiwan as a breakaway province that will eventually be brought under its control.

On Tuesday, Taiwan's Mainland Affairs Council, a cabinet-level agency responsible for cross-strait relations, said it had repeatedly asked for Mr Yang to be released since his arrest in August, but had not received a positive response from China.

Also this month, two Taiwan-based reporters for Taiwan's EBC News were detained by Chinese authorities while filming military exercises in Pingtan county in China's Fujian province.

Local media have identified the reporters by the last names, Huang and Li. They are said to be safe and maintain daily contact with a director at their company.

Taiwanese authorities on Tuesday reminded their residents to "assess relevant risks" before visiting China.

"You should realise that mainland China is accustomed to random violations of personal safety," a MAC spokesperson said.

Source: BBC

Pakistan’s Key Players Suffer Injuries on the Eve of ODI Series Against New Zealand

Haris Sohail has been ruled out of the first ODI against New Zealand due to shoulder pain while Shan Masood is also struggling with a finger injury.

Haris Sohail, the middle-order batter, suffered a setback during fielding practice as he collided with teammate Shadab Khan, resulting in a shoulder injury. This comes as a blow to Haris Sohail, who had been out of the team recently due to fitness issues but was set to make a comeback in the upcoming One Day International against New Zealand.

Although X-rays have shown no fractures, the team doctor and physio have advised Sohail to rest, ruling him out of the first ODI due to shoulder pain.

In addition, Shan Masood also suffered a finger injury during fielding practice, but his X-ray came back clear and he is expected to be available for the next match. It has been reported that emerging batter Abdullah Shafique may replace Haris Sohail in the first ODI.

As Pakistan and New Zealand gear up for the first ODI at Rawalpindi Cricket Stadium, the injuries to Haris Sohail and Shan Masood have added an element of uncertainty to the team’s plans.

Source: Pro Pakistani

Rupee Crash, Default Gossip, Inflation Are Holding Pakistan’s E-Commerce Scene At Gunpoint

The Pakistani economy has been reeling from one crisis after another, which has affected purchasing power hard and made consumers more price-cautious.

Meanwhile, the cost of operations — already under pressure from a commodity super cycle — for businesses including e-commerce stores, has gone up substantially. This was made even worse by government-imposed restrictions on imports.

The intensity of the crisis has particularly been amplified since early 2022, which has seen rapid devaluation, record inflation, and rumors of default.

According to the ‘State of B2C E-commerce in Pakistan‘ report by Data Darbar, the ongoing economic and political situation in Pakistan, including the 86.65 percent YoY drop in VC funding, has choked the key source of funds to subsidize customer acquisition and growth and put a serious strain on e-commerce companies as they struggle to maintain their existing levels, let alone grow.

According to the report, the percentage change compared to 2021 levels shows a clear declining trend up until September, before making a slight recovery in O-N-D (October, November, and December). Seven out of nine click-and-mortar stores analyzed for this report recorded lower traffic in 2022, compared to the previous year. This is despite reportedly record year-end clear campaigns. In e-commerce, four of the seven platforms had less traffic in 2022, which on an aggregate basis fell 18.8 percent YoY.

Pakistan’s e-commerce market is ranked 47th in the world, with a $6.4 billion revenue forecast for 2023. Electronics and media have the largest share, accounting for 34.1 percent of the total.

Over the next five years, the compound annual growth rate (CAGR) is expected to be 6.2 percent. The expected growth rate is “relatively muted” as a result of the currency’s continued depreciation and the resulting reduction in economic growth forecasts.

Despite the fact that the online B2C retail market has grown in size over the years, the country still “lags well behind” comparable economies such as Indonesia, the Philippines, Egypt, and Bangladesh, according to the report. Pakistan’s market size is the smallest in both absolute and relative terms among the peer group.

According to the report, the largest click-and-mortar store in Pakistan is J., with global revenue of $71.8 million per year, followed by Limelight ($50.3 million), Gul Ahmed ($48.3 million), Khaadi ($29.1 million), and Sapphire ($34.2 million).

Similarly, Daraz was the most popular e-commerce platform in terms of traffic, with 112.1 million visits per year, followed by Priceoye (14.7 million), Bagallery (13 million), Laam (5.9 million), and iShopping.pk (4.1 million).

Funding for e-commerce startups has been on a “steep upward trajectory” since 2019, rising from $2.3 million in 2019 to more than $190 million in 2022. The sector’s share of total investment value in the country increased tenfold, despite the fact that most of this capital has recently been deployed in the B2B segment.

Last year, the e-commerce sector accounted for more than one-fifth of all investments made in Pakistan.

Since 2018-19, the number of e-commerce merchants registered with banks has seen a steady increase in digitally paid orders. The number of transactions increased, as did their value in rupees. Throughput reached Rs. 34.2 billion in the October-December quarter of 2022, while volumes remained lower than in the same period last year.

Source: Pro Pakistani

NA Speaker condoles over loss of security personnel in Tirah

Speaker of the National Assembly Raja Pervez Ashraf and Deputy Speaker Zahid Akram Durrani have expressed their condolences over the loss of security personnel's lives during an operation in the Tirah valley, Khyber district.

In separate messages of condolence, both the Speaker and Deputy Speaker praised the security forces for their bravery in conducting the operation against the terrorists.

They also expressed their regret over the loss of lives of the security personnel during the exchange of firing.

They emphasized that those who sacrifice their lives for the protection of the country and nation were the true heroes, and the nation would never forget the sacrifices of the armed forces.

They shared the pain and grief of the affected families and expressed their solidarity with them.

Source: Radio Pakistan