Summer has arrived but luxury yachts anchored in deep-water ports are sparse, elite parties have yet to begin, music festivals are banned, bars remain closed. However, behind that bleak landscape is a whole plan to revive the tourism industry that has begun to spread across the island. In the labyrinthine alleys of the main town, street painters are painstakingly painting the walls. They hope that in the next few weeks or months, their work will be flooded with check-in photos on Instagram. Greece is launching a campaign called Blue Freedom on 80 islands with the desire to rebuild the smokeless industry amid the pandemic. The campaign started with a plan to vaccinate against Covid-19 for all people on the islands. Mykonos struggles to revive tourism. “Heaven” hides Greece’s post-Covid-19 economic recovery plans rely heavily on the tourism industry. This industry accounts for 18% of the economy and provides one-fifth of job opportunities for workers. Tourism also helped Greeks get out of a 10-year financial crisis that ended just before the outbreak of Covid-19. Last year, the country welcomed less than a third of 2019’s tourist arrivals, according to the UNWTO World Tourism Organization. Mykonos belongs to the Cyclades group of islands and is the most famous destination in Greece. Before the pandemic, this place was known as a “party paradise” for the super rich and famous. From former US First Lady Jacqueline Kennedy Onassis to female stars such as Grace Kelly (USA), Brigitte Bardot (France), Sophia Loren (Italy)… all have visited Mykonos. Mayor Konstantinos Koukas said: “The people of Mykonos were shocked when the number of tourists dropped sharply last year. But this year there are signs that the number of visitors may double compared to 2020.” Before the pandemic, the island of Mykonos was famous for its bustling nightlife. Compared to some other Mediterranean countries that also depend on tourism, Greece is said to be working hard to revive the smokeless industry. At the beginning of April, as the world faced a new wave of epidemics, the country reopened to most tourists. It is the second EU country, after Croatia, to allow Americans to come in without quarantine. According to the CNN , Americans are the most generous travelers in the Mediterranean country. The US ambassador to Greece, Geoffrey Pyatt, recently praised the “record nine direct flights per day by US airlines to Greece this summer”. With dozens of fully vaccinated islands and long coastlines, Greece promises to become a “shelter paradise” in the middle of the epidemic season. However, things in Mykonos seem more complicated. This party island is unlike any other idyllic destination. Mykonos’ brand and sales are shaped by its bustling nightlife, a business that’s not easy to bounce back from during the pandemic. Magic formula Although the US State Department recently added Greece to its long list of “Level 4: Do Not Travel” countries, the promise of a Covid-19-free Mykonos has attracted the interest of travelers worldwide. demand, especially from the US. Iraklis Zisimopoulos, CEO of the Semeli Hospitality Group hotel, restaurant and bar chain on the island, said his company has received a lot of inquiries and booking requests recently. “The two main questions are the vaccination plan and whether tourists will be able to party on the island like they used to. We told them that in July things will probably be back to normal as they were. There’s never been a pandemic.” Zisimopoulos describes the vaccine as a “miracle recipe for a return to nightlife”. Greece hopes a nationwide vaccination plan will help revive Mykonos. Global reopening plans remain flexible, depending on the policies of each country. The new variant of SARS-CoV-2 is a constant worry. Some countries continue to ban their citizens from traveling abroad. Travelers may be forced to quarantine after returning home. However, in Mykonos, the first large yachts of this summer have arrived. At the trendy Alemagou Beach bar, German booze is ready again. After months of lockdown, a visitor from Hamburg (Germany) said that she and her friends were finally reunited in Mykonos and it felt like a dream. “Last year, we were not vaccinated. But this year, we became the first to get vaccinated and travel. We want to show people that they can have a good time and be safe here,” she said.

Private wealth at a record high Especially the super-rich get richer

Status: 10.06.2021 8:34 a.m.

Never before have people worldwide amassed so much private wealth as in the Corona year 2020. The wealth of Germans alone climbed – thanks to savings and real estate – to almost 20 trillion dollars. 20,000,000,000,000 dollars – this is the impressive sum of private wealth that private households in Germany had at their disposal in 2020. This emerges from the new “Global Wealth Report” by the Boston Consulting Group (BCG).

Better real estate than stocks

The Germans were helped by their much-cited propensity to save: financial assets, including cash, account balances, stocks, pensions and life insurance, grew by around six percent to around nine trillion dollars, according to the information. Investors in Germany saved above average, emphasized Anna Zakrzewski, BCG partner and author of the study. “Traditionally, Germans prefer to invest in real estate rather than in securities, as the real value quota of almost 60 percent clearly shows,” says the BCG expert. In the crisis year 2020, the real assets of Germans, i.e. real estate, jewelry, art and gold, increased by five percent to 13 trillion dollars. After deducting debts, private households in Germany had a total of just under $ 20 trillion.

Rising stock market prices, growing savings

The developments in Germany are a reflection of a global trend: people around the globe accumulated more wealth than ever in the year of the Corona crisis. Private financial assets rose year-on-year by a good eight percent to a record $ 250 trillion. Rising stock exchange prices and growing savings contributed to this. The BCG experts were surprised, as they expected a year ago that private assets would melt as a result of the corona pandemic. For the first time in 2020, the BCG experts will also consider property such as real estate or gold. Total assets minus debt was $ 431 trillion.

2900 super-rich in Germany

However, wealth is unevenly distributed. Above all, the club of the rich and super-rich grew strongly. The super rich – these are people with a net worth of more than $ 100 million. In the crisis year 2020, 6000 more people were accepted into the club of the super-rich, the number of members grew to 60,000. According to the BCG, these 60,000 people own 15 percent of the world’s investable wealth. In Germany alone there are 2,900 super-rich. This puts the Federal Republic of Germany in third place in the global ranking. The USA is at the top, followed by China.

Getting richer?

Against the background of the expected economic recovery after the Corona crisis, BCG expects steady growth in global private wealth for the coming years. By 2025, it should grow by an average of just under five percent annually to $ 544 trillion. Global inequalities are likely to increase further: According to the BCG forecast, people in North America, Asia excluding Japan and Western Europe in particular will get richer.

Christine Chiu, the star of the reality show Bling Empire, is not afraid to buy luxury items for her son Baby G (aka Gabriel). According to the South China Morning Post, not only investing in her son’s wardrobe, Christine also spends up to 7 figures to celebrate her son’s first birthday. The party features a custom-made roller coaster, giant Ferris wheel, 10-course menu and an animal claw machine, but instead of stuffed animals, the inside is filled with Gucci products. Photo: @christine_chiu88. As the future heir to the $80 million empire, Baby G also owns many expensive items from an early age such as mini Lamborghini Urus, Tesla, Ferrari… The boy often wears items from brands luxury brands such as Givenchy, Dolce&Gabbana and Burberry. Photo: @christine_chiu88. Kim Lim, the daughter of Singapore billionaire Peter Lim, also does not hesitate to spend on taking care of her son Kyden. The divorce in 2019 did not greatly affect the views on raising a son as well as the process of building a beauty empire. Photo: @kimlimhl. The 4-year-old boy often appears with his mother in a Rolls-Royce or in Gucci, Baby Dior and Givenchy suits. Sharing in a number of interviews, Kim Lim said Kyden will be the heir to the family empire when he grows up. Photo: @kimlimhl. When she was just a few months old, little Arianna owned a Dior bag worth more than $3,000 engraved with her name or went out with her mother on a Fendi stroller. Arianna is the daughter of Chryseis Tan (born in 1988) – the daughter of the richest man in Malaysia Vincent Tan. Photo: @chrystan_x. Before getting married, Chryseis Tan was known as a “brand daughter” when she had a wardrobe filled with expensive outfits and accessories. Therefore, when giving birth to Arianna, she was not afraid to spend money to give her daughter luxury items. Photo: @chrystan_x. Gucci dresses, Louis Vuitton blankets are also familiar items for Jadore, daughter of the owner of the Religion Tequila Cherie Chan wine brand. With a fortune of about 200 million USD, Cherie Chan can easily give her daughter experiences that few people have. Photo: @cherieofficial. Appearing on her mother’s personal page, Skylar Raymond-Foo, the daughter of famous Malaysian influencer Kim Raymond looks like a real child fashionista. Having a famous mother, she soon became acquainted with branded bags or famous fashion events. Photo: @kimchiraymond.

As of mid-December 2020, Forbes It is estimated that the net worth of the group of more than 2,200 billionaires in the world has increased by more than $1.9 trillion. Many of these people are spending a large part of their money on personal pleasures, according to NZ Herald . Recently, Jeff Bezos, the owner of Amazon, bought a yacht so large that it needed a “side boat” to support. The total estimated value of this yacht is up to 500 million USD. That figure is just a fraction of the more than $75 billion in earnings Bezos made last year. The super-rich are “crazy” to buy probes and cruisers. Photo: NZ Herald. Over the past year, superyacht maker Cecil Wright & Partners has sold 354 units, costing $840 million to build. Due to travel restrictions between countries, many have been acquired. The super-rich are also eyeing the Arksen marine exploration ship and luxury cruiser. At around $17 million, they allow owners to explore the wildest places on the planet. “The elite want to know how far they can go when it comes to unexpected adventures,” says Jasper Smith, president of Arksen. Longing to travel Helicopters and electric cars are also favored by Ultra-High Net-Worth Individual (UHNWIs) individuals. They hope to make the most of them once the Covid-19 pandemic is over. “Three times in lockdown and spending most of my time at home has made me hungry to travel and experience,” said Martin Reith, president of Luchford, the media agency for luxury brands. In addition, the super-rich also want to find private resorts. For example, Lopud 1483 in Croatia, a renovated monastery with a rental price of 137,000 USD/week, or Deplar Farm, which offers high-speed heli-skiing and luxury trout fishing in Northern Iceland. Private planes and helicopters are loved by the elite. Photo: Insider. Many other rich people are also interested in electric cars. They love buying a Polestar 2 and riding around the city on Porsche’s new e-bike. Meanwhile, helicopters are more popular than ever in the UK. “Bamfords helicopters are a regular occurrence at the Daylesford Shire. I saw them hovering more and more over the Cotswolds. They come in handy for commuting to London. Owners can go anywhere in minutes,” said Harry Gladwin (from the UK). For others, hunting for land and houses is a prerequisite. Jess Simpson, a real estate agent over $20 million, receives three calls a day. Simpson said his clients are always worried there won’t be enough room for nannies, tutors and grandparents should the government blockade again in the future. “Bahamas is a good choice because of the good tax rates. In Europe, the South of France and the Balearics are attracting great interest. Some have moved to Ibiza permanently to send their children to private schools and enjoy life. Also, Portugal is also very popular, because buying a house there can guarantee EU citizenship,” Simpson said. Currently, the richest people in the UK are focusing on buying more houses. Their obsession with space has brought them to Scotland, where there are sports grounds and castles to relax with friends and family. Real estate investment Beach homes are also selling at a rate not seen since 2007. Many are looking for apartments in Norfolk, Dorset and Cornwall. “Private vineyards are gaining in popularity. Many have even established oak plantations,” adds Simpson. While the middle class is fleeing the capital to find a place to live, the super-rich still see London as “true love”. Others are investing in art and furniture. Baird Allis (40 years old), a lawyer, feels happy to own paintings of the Dutch golden age. Modern swimming pools are favored by the rich. Photo: New York Times. In addition, the upper class also splashed money on basements to create multifunctional spaces for working, relaxing, exercising, eating and playing. “Customers often want a meditation room, a ‘vitamin C shower’, a giant changing room, a golf simulator, and a tennis player in their own home,” said Edoardo Alessandro Mapelli Mozzi (UK), real estate developer. real estate, say. After a year without parties, socializing activities are also a priority for individuals with extremely high net worth. It’s no surprise that London’s most exclusive restaurants cater to only 10 pre-booked diners each evening. According to expert Katrina Kutchinsky, the trend of home restaurant-style dining continues to explode. It is normal for the super-rich to invite famous chefs like Alex Webb, the MasterChef champion, to prepare dinner by the pool. Natural swimming pools are equally popular. The list of works of many furniture companies has stretched to 2022. This leaves the super-rich customers with no choice but to endure a summer of “no” new-style swimming pools.

Since the first opening of tourism in 1980, Jumby Bay Island has been a paradise for British financiers and many Hollywood celebrities. Photo: Villa Retreats. Currently, Jumby Bay Island has 28 luxury resort bungalows with many facilities such as Verandah bar, high-class restaurant for visitors. Most of the rest of the 300-acre island belongs to exclusive investors. Famous faces who used to be residents here include designers Domenico Dolce and Stefano Gabbana, David Sainsbury, Oprah Winfrey and luxury lifestyle icon Robin Leach. In the midst of the Covid-19 epidemic, the super-rich paid special attention to real estate here. Photo: SCMP. According to Andrew Robson, real estate consultant for Jumby Bay Island, interest from the elite for the island tends to increase sharply after the pandemic. “I think Covid-19 makes people determined to own a portion of the island. Last December, we had a good start and will strive to sell out the remaining units this year,” said Robson. . The man emphasized that there are only six homes with a market price tag, such as Bananaquit, Sea Breeze and Whisosystem Palms. The prices of the aforementioned properties range from 9.5 million to 28 million USD. Despite the high prices, most of the super-rich customers believe that the money is worthwhile to enjoy the fresh and relaxing atmosphere here. “Jumby Bay Island is not too flashy and luxurious as some people expect. However, individuals who want to live and relax here are satisfied with it,” commented Robson.