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THE JOURNAL

BUSINESS // TRAVEL // POLITICS // CULTURE // LIFE PRODUCED BY

ALEA GLOBAL GROUP

NOVEMBER 2019

Contents COUNTRY FOCUS: TURKEY

Page 3

WATERGEN TURNS AIR INTO WATER

Page 9

TARCISIO GENEROSO INTERVIEW

Page 11

SURPRISING THINGS THE MIDDLE EAST AND LATIN AMERICA HAVE IN COMMON

Page 15

EYES ON THE MIDDLE EAST FOR MAJOR GLOBAL EVENTS

Page 18

MENTALÂ HEALTH THROUGH YOUR MOBILE PHONE

Page 20

FAMILY WEALTH PRESERVATION

Page 26

ASTER VILLAGE - A NEW SMART VILLAGE IN CROATIA

Page 27

UNLOCKING NEW INVESTMENT OPPORTUNITIES WITH CHINA'S NEW SMART TOWNS

Page 30

THE RISE OF THE NANODEGREE

Page 32

THE LUXURY TRAVEL GADGETS YOU NEED

Page 35

WELCOME

SEPTEMBER 2019

The alea journal

FOREWORD BY MOHAMMAD ALDUAIJ CEO OF ALEA GLOBAL GROUP Welcome to the latest issue of The Alea Journal. Right now we are looking at some new ways of using nature to change our modern lives for the better. This is happening over in Croatia with the incredible new eco community currently being created at The Aster Village. We' re also exploring the wonder of Watergen, which can turn air into drinking water. Personally I am a huge advocate of learning and growing through interaction with nature, and one of the things I love to do is sailing. Years of sailing have increased my general confidence, giving me a sense of achievement and peace away from the business world. It has helped me conquer fears, maintain control in difficult situations, and plan for every eventuality.

But business and work are always calling! So also in this issue, we're examining Turkey' s investment opportunities, highlighting all our favourite similarities between the Middle East and Latin America, and finding ways our mobile phones can help with our mental health. All this and more is waiting for you in the following pages. To contact us with news and ideas for future issues, emailÂ info@aleaglobalgroup.com

country focus: Turkey

As a place to invest, Turkey may not be at the top of your list just yet. But that's where you could be making a huge mistake.

INVESTING IN TURKEY - WHY THE TIME IS RIGHT

Here are all the reasons you should be looking to Turkey for your next business move, including vital stats and all the industries that are delivering credible results right now.

The stats

Trade agreements

Maj or Expor t Mar ket s

Ger many ( 9. 6%) ; UK ( 6. 6%) ; I t al y ( 5. 7%) ; I r aq ( 5. 0%) ; US ( 4. 9%) ; Spai n ( 4. 6%) ; Fr ance ( 4. 3%) ; Net her l ands ( 2. 8%) ; Bel gi um ( 2. 4%) ; I sr ael ( 2. 3%) Expor t s val ue

USD 1 68 bi l l i on I mpor t s val ue

Customs Union Agreement with the EU Free Trade Agreements with Albania, Bosnia Herzegovina, Chile, EFTA member countries (Switzerland, Norway, Iceland and Liechtenstein),Faroe Islands, Ghana, Kosovo, Lebanon, Egypt, Georgia, Israel, Jordan, Singapore, South Korea, Syria, Macedonia, Malaysia, Mauritius, Moldova, Montenegro, Morocco, Palestine, Serbia, Sudan, Tunisia

USD 223 bi l l i on

10 reasons to invest in turkey 1. A SUCCESSFUL ECONOMY With an economy that’s more than tripled its GDP to reach $784billion in 2018, Turkey is a runaway success. Currently it’s the 13th largest economy in the world. It’s got stable economic growth and averaged an annual real GDP growth rate of 5.5% between 2002 and 2018. The Turkish economy is also expected to become one of the fastest growing economies among the OECD members between 2019-2024, showing $168billion of exports and an increase of 366% between 2002 and 2018.

2. A DYNAMIC POPULATION Turkey’s population is statistically the youngest in Europe, with half of the people under the age of 32. With a total population of 82 million, that’s a lot of youthful energy ready to be harnessed. These young people are also well-educated and multicultural - a boon for international business.

3. A QUALIFIED AND COMPETITIVE LABOR FORCE Among the 32.3 million young Turkish people, more than 800,000 students graduate every year from more than 183 universities around the country. There are more than 985,000 high school graduates too, half of whom have studied technical or vocational specialisms. This means there’s an increasingly skilled and productive labor market which is ready to take on the needs and challenges of modern business.

4. A LIBERAL AND REFORMIST INVESTMENT CLIMATE Reforming at a fast pace, Turkey is now the second biggest reformer among OECD countries, when taking into account its restrictions on FDI since 1997. It’s also a business-friendly environment, where the average time needed to set up a company is just 6.5 days. With international arbitration, a guarantee of transfers, and highly competitive investment conditions, it’s an outward and forward looking climate for business. There are around 65,500 companies with international capital, proving that this attitude and ethos is working.

5. INFRASTRUCTURE Turkey has a new and highly-developed transportation infrastructure, as well as telecommunications and energy networks. Sea transport is highly reliable and low cost, and railway transport links Turkey to Central and Eastern Europe. Well established transportation routes ensure direct delivery to most EU countries.

6. A CENTRAL LOCATION Being a natural bridge between both the East-West and North-South axes, Turkey is an efficient and cost-effective base from which to reach most major markets. It has easy access to 1.7billion customers across Europe, Eurasia, the Middle East and North Africa, and is within reach of multiple markets worth $27trillion of GDP.

7. AN ENERGY CORRIDOR AND TERMINAL OF EUROPE The country is an important energy termal, and a European corridor connecting the East and West. It’s located close to more than 70% of the world’s proven primary energy reserves, as well as being close to the largest energy consumer - Europe. This makes Turkey a linchpin in the transit of energy, and an energy terminal for the region.

8. LOW TAXES AND INCENTIVES Turkey is incentivising new businesses, with a reduced Corporate and Income Tax which has dropped from 33% to just 20% (or 22% for years 2018-2020). The tax benefits are most notable in the Technology Development, Industrial and Free Zones, with a partial or total exemption from Corporate Income Tax as well as land allocation and a grant on an employer’s social security share. There is support for R&D and innovation, and incentives for strategic investments, large-scale investments, and regional investments.

9. CUSTOMS UNION WITH THE EU A Customs Union with the EU has been in place since 1996, and there are Free Trade Agreements with 22 countries (with more on the way).

10. A LARGE DOMESTIC MARKET At home in Turkey the market is promising too, with 72 million broadband internet users, 80.6 million mobile phone users, and 66.3 million credit card users. The country has a booming tourist market too, welcoming 45.6 million international visitors per year, and accommodating 211 million airline passengers (both based on the most recent figures from 2018).

turkey's top industries tourism Turkey is terrific at tourism, and is currently the 10th most popular visitor destination in the world. It attracted almost 39 million tourists in 2017 thanks to its unique combination of history, culture, nature and climate. Hotels are struggling to keep up with the rate at which they’re needed, and there’s plenty of space for new building projects to help fulfil that need.

Agriculture and Food A favourable climate and an abundance of arable land and water supplies has made Turkey an international home of agriculture - the 7th in the world, to be exact. The food industry employs almost 20% of the working population, and also accounted for 6.1% of Turkey’s GDP in 2016. Contributing to the success of Turkey’s food industry are the young population, a dynamic private sector economy, and substantial international visitors.

Business services Wi th i ts previ ousl y menti oned i deal geographi cal l ocati on for busi ness, Turkey has i nvested i n i ts busi ness servi ces. Engi neeri ng, archi tectural consul ti ng, techni cal testi ng and cal l centres are al l of a worl d cl ass standard. Knowl edge-based servi ces such as accounti ng, l egal advi ce and consul ti ng are al so wel l establ i shed and readi l y avai l abl e.

Energy and Renewables Turkey has become one of the fastest growing energy markets in the world, paralleling its economic growth over the last 15 years. In addition to having a huge domestic market, Turkey occupies a strategic location between a number of major energy consumers and suppliers, and thus serves as a regional energy hub. Opportunities for renewable forms of energy production – hydro, wind, solar, and geothermal – are abundant in Turkey, and encouraging policies backed by favorable feed-in tariffs are expected to increase their share in the national grid in the coming years.

Finance The Turkish financial sector proved resilient during the global financial turmoil in 2009 as well as the ensuing economic crisis thanks to the regulatory reforms and structural overhaul that the government implemented in the wake of the country’s own financial meltdown in the early 2000’s. In fact, the reforms in the sector boosted investor confidence so much that the industry has attracted USD 51 billion over the past 15 years. Banking dominates the Turkish financial sector, accounting for more than 70 percent of overall financial services, while insurance services and other financial activities also show significant growth potential. There are 51 banks in Turkey (33 deposit banks, 13 development and investment banks, and 5 participation banks). Out of the 51 banks, 21 hold significant foreign capital (30 percent of total assets are held by foreign investors).

Mining and Metals Harbori ng a l arge expanse of the western porti on of the Tethyan-Eurasi an Metal l ogeni c Bel t - whi ch i s an ophi ol i te extendi ng from the Al ps to southeastern Europe through Turkey, the Lesser Caucasus, I ran, and the Hi mal ayas on to Chi na - Turkey offers proven potenti al for mi ni ng i nvestors. As the l east expl oi ted porti on of the bel t, Turkey stands out as a very promi si ng regi on for compani es engaged i n mi neral extracti on. Mi ni ng i n Turkey has mai nl y been l i mi ted to surface excavati ons, meani ng huge potenti al wi th deep dri l l i ng i s awai ti ng i nternati onal i nvestors.

Real Estate Turkey i s one of the most promi si ng real estate markets i n Europe, and the mantra “ l ocati on, l ocati on, l ocati on” ri ngs especi al l y true for thi s country. Strategi cal l y si tuated at the crossroads of Europe, the Mi ddl e East, and Central Asi a, and home to al most 81 mi l l i on peopl e, Turkey offers great opportuni ti es for real estate devel opers and i nvestors by combi ni ng a l arge constructi on sector wi th growi ng commerci al and i ndustri al output.

A REVOLUTIONARY WATER CREATION SYSTEM

INTRODUCING

watergen

1.7 MILLION CHILDREN UNDER THE AGE OF FIVE DIE EVERY YEAR BECAUSE OF ILLNESSES CAUSED BY A LACK OF CLEAN DRINKING WATER 80% OF DISEASES ARE CAUSED BY POOR WATER SANITATION AROUND 2 BILLION PEOPLE DRINK WATER THAT IS CONTAMINATED 50% OF THE WORLDâ€™S POPULATION WILL BE LIVING IN WATER-STRESSED AREAS BY 2025

Is Watergen the solution?

Soon the illness and misery caused by a lack of clean drinking water around the world could be a thing of the past. Using state of the art technology, Watergen is a game-changer in disaster relief, underdeveloped countries, and even comfortable households. Watergen can provide a renewable source of high quality drinking water extracted from the very air around us, making it available anywhere and everywhere. Watergen units collect water from the air, clean it, store it, and dispense it when needed. They do all this with record-breaking energy efficiency too. Watergen is the world’s most energy efficient atmospheric water generator. It also needs no infrastructure at all, running only on electricity. This makes it versatile and easy to install wherever it’s needed. Ideal for use in emergencies and natural disasters, Watergen units have been used in cases of flooding and hurricanes including in Mexico Beach, Kerala, Miami and Texas.

There’s also the Watergen ERV a truck with water creating capabilities, for use in emergency situations. It can generate up to 900 litres of water per day. The units come in several sizes but are scalable to any size at all. The largest unit currently in production can produce up to 5000 litres of water every day. Manufacturing facilities currently exist in three continents, and Watergen has clients and partners in Latin America, USA, Asia and the Middle East. A multi-award-winning product, Watergen was one of four companies chosen for the August 2017 Innovation Showcase. It was selected to represent the best technologies for improving the world and aiming for UN-initiated 2030 sustainable development goals. Outdoor units are already available, and indoor units are in development soon to bring this technology to offices and homes. Indoor units can cut water bills, dehumidify rooms and purify the air at the same time. For more information contact info@aleaglobalgroup.com

TARCISIO generoso AN INTRODUCTION TO A TALENTED UPAND-COMING PHOTOGRAPHER AND VIDEOGRAPHER How did you first become interested in photography? Since I can remember I always had a camera in my hands, it got really serious, or I can say it became a real hobby, when those disposables cameras where invented back in the day. I was doing a European tour dancing in a musical at the time. I still have lots of an boxes of developed pictures at home from these years. Now when I go through them I can see I always had a passion for street photography and portrait. That has always been a passion of mine. After being told that I had what it takes for the business many times, I decided to take it seriously. So I studied and got into photography professionally.

What are some of the past projects you're most proud of? My first paying job as a photographer was as the official photographer for UFC (ULTIMATE FIGHTING CHAMPIONSHIP). And that fell into my lap almost by accident and I am really proud to have done it for almost 4 years. Even though wrestling or martial arts have nothing to do with me, I always felt valued by my superiors and fans of the the sport

What are you working on at the moment? Actually, you guys can have a little taste of my next project on the cover of this paper. “PRAYERS” is my little baby project. This is a beautiful project that is going to show the magnitude of this amazing religion which is the Muslim faith.

Videos and photography are two of your mediums. How do you find your videography differ, and what similarities do they have?

Well, for me they are really the same thing. If you actually go through my video work you will be able to notice my identity and my eye as a photographer. Both video and photography are great media for street photography and portrait, my biggest passions.

What equipment do you like to use and for what purposes? I usually work with a Cannon 5D Mark IV, for video and photos, but it depends on what the job requires. I’ve being using a lot my drone these days, a DJi Mavic air for video gigs. I felt in love with piloting and making images with drones. I have a blast everything I put my drone on the air.

Are there any projects you would like to do but haven't yet been able to? I’ve always been a fan of those classical portraits at National Geographic, so one of my biggest dreams is to travel around the world and do my own version of those portraits. Capturing images of people from the most different cultures and diverse backgrounds that I can possibly imagine.

See Tarcisio's work on his website generoso.world

Some surprising things the Middle East and Latin America have in common WHY BUILDING BRIDGES MIGHT BE EASIER THAN EXPECTED

On the face of it, you might not think the Middle East and Latin America share many similarities. With their vastly different landscapes, history, architecture, faith and culture, they appear to be worlds apart. However, if you scratch the surface, these regions share many deep and significant elements, and it’s these synergies which will help to build stronger and stronger bridges between the two. Here are just a few of the things over which Latin America and Middle Eastern people can very easily bond, from the fun to the profound.

Migration There has been historic migration from the Middle East to Latin America since the 19th Century. Brazil in particular saw an influx of Lebanese and Syrian people from the 1890s onwards. This has led to a merging of cultures in some areas of Latin America which would lead many new visitors from the Middle East to feel instantly at home.

Patriotism Regardless of the fact that each region believes itself to be the strongest and best in every way, both share a passion for their home that is admirable and all-consuming. WIth this enthusiasm for championing their home countries, residents of both the Middle East and Latin America share an equal and admirable depth of feeling.

Family values The family is at the heart of both the Latin American and Middle Eastern cultures in a way that is unparalleled elsewhere in the world. Traditional family values underpin the daily life of people in both regions, and every choice an individual makes - whether personal or professional - is affected by its links to the family and home.

Hospitality A pride in hospitality is central to the cultures of both regions, and in this sense they easily match each other as hosts. Extreme generosity towards guests is standard, and hosts pride themselves in treating visitors with a great deal of warmth and respect, no matter who they might be.

Young populations Both regions have relatively youthful populations, with all the potential and energy that brings. In this respect, both the Middle East and Latin America are at a similar advantage when it comes to their dynamic and enthusiastic workforce and global outlook.

Strong religious beliefs Although the primary religion in Latin America is Catholicism, while the Middle East practises Islam, both regions are driven by a strong faith that permeates every aspect of their culture. Despite the fact that these two religions are different, this shared sense of faith can actually serve to generate a greater understanding between the two regions.

Football Not quite as strong an influence on culture as religion, nonetheless football is an important unifier between the two regions. Both are equally enthusiastic and passionate about the sport, and no doubt any two strangers from each region could pass many hours talking about it. The next World Cup will be held in Qatar, which for many Latin American football fans will give them their first chance to visit the Middle East for a major football tournament.

eyes on the middle east for major global events With two major international events on the horizon, the world’s eyes will be on the Middle East even more than usual. Let’s take a look at the two incredible spectacles that will be taking the region by storm - with the Expo 2020 in Dubai, and the FIFA World Cup in Qatar in 2022.

expo 2020 - Dubai This world fair is a chance for all nations to showcase their activities under the broad category of ‘Connecting Minds, Creating the Future’. Taking place between October 2020 and April 2021, Expo 2020 is expected to welcome more than 25 million people to hundreds of pavilions. This is the largest event ever staged in the Arab world, and the first World Expo ever held in the region. Visitors to Expo 2020 can expect a programme of live entertainment, interactive exhibits, business activities and leisure time. Each exhibiting country (190 in total) will have its own customised space, which it will use to highlight its own offers falling under the theme of the event. Since 1931, the World Expo has been overseen by the Bureau International des Expositions (BIE) in Paris. This intergovernmental organisation is in charge of allocating and regulating World Expos, which are currently held at a rate of one every five years. The previous host city was Milan in 2015, and in 2025 it will take place in Osaka. Find out more at expo2020dubai.ae

FIFA World Cup 2022 - Qatar The World Cup is a men’s international association football competition held every four years in a different nation around the world. It’s organised and overseen by FIFA - the Fédération Internationale de Football Association. Each of the competing teams are members of the association. Beginning in 1930, the World Cup has only ever skipped two years due to World War II. Despite 21 competitions to date, only eight teams have ever won Brazil, Germany, Italy, Argentina, Uruguay, England, Spain, and current reigning champions France. This 22nd edition of the FIFA World Cup will be hosted by Qatar. It’s the first World Cup ever to be held in the Arab world, and the first ever to be held in a majority-Muslim country. There will be 32 teams in the competition in total, as has been the case up until now, but this will be the last World Cup with this number of competing nations. The next World Cup in 2026 will feature 48 teams for the first time in a significant new expansion.Matches will be held across eight stadiums in Qatar five of which are being constructed especially for the event. Each of the stadiums is being built to reflect the history and culture of Qatar in some way, and after the competition they will be taken apart again and donated to countries without the means to create such sporting infrastructure.

mental health through your mobile phone The therapist in your pocket

There’s no doubt that mobile telecommunications have transformed our professional lives. We can work with multiple people completely remotely, working across time zones and even working on the move. The digital revolution has enabled us to engage with the whole world in real time, whether we’re in bed, on the beach, or in the office. No longer restrained by geographical distance from clients, colleagues or professional services, there really is no limit to what we can each achieve.

In a race to keep up, we’re risking our mental and physical health unless we enforce steps to protect them (and there’s no point being phenomenally successful for a few years while you’re younger if you’re also taking years off your life in the process). Considering how much technology has contributed to changing our work environments, it may also be that technology can help provide the solutions to our resulting mental health challenges as well.

Apps, online project management resources and messaging services can fulfil just about every business function that our physical presence would previously have been needed for.

Bearing this in mind, we’ve collated some of the most effective, useful and easy to use apps and podcasts that can help to support good mental health, even as you build your business and career at the same time.

But with this increasing sense of opportunity and contactability comes an increasing amount of pressure. In a world which is itself always ‘on’, for the extremely ambitious among us to take any time to switch off might seem like a professional suicide.

Carry these secret solutions around with you on your phone and turn to them whenever you need to, whether that’s for stress relief, habit nurturing, counselling, insomnia or anything else that can be aggravated by the pressures of life and work.

APPS Fabulous This completely customisable app hands you control over your daily routine, helping you to build good habits over time. It’s visually beautiful, with a colourful and stylised look that you can also swap out for your own imagery if you like. The app is limited without an annual subscription, allowing you to programme only a handful of habits, but there’s no limit to the number of habits you can add as a subscribed member. Simply build a morning, afternoon and evening routine, deciding what you want to do and when, and soon it will feel like second nature to tick off the healthy habits you’ve achieved each day. Meditation, exercise, gratitude, creating a good environment for sleep, and sticking to a regular time schedule wherever possible - all these and more are encouraged by Fabulous. No it’s not rocket science to adopt healthy habits, and it’s something we could all do on our own in theory, but Fabulous is like the friend whose diligence and encouragement ensures you actually DO the thing you know you should do, when you know you should do it. thefabulous.co

Talkspace Almost anyone who has therapy regularly will tell you they don’t know how they managed without it. Finding the right therapist can help us all deal with the daily trials of life, and contrary to some opinions, you do NOT need to be having a traumatic time to try therapy. Life itself is a constant barrage of surprises, and we’re constantly learning and changing as a result of them, so therapy can help us to get the best possible learning experience from every experience we have. Talkspace is an online-only therapy service in which you’re matched with a real qualified therapist (ensuring you find the right one for you) and giving you remote access to them. You can write messages to them any time from your phone, and anything you do share is protected with banking-grade encryption so you can have total peace of mind. talkspace.com

Sanvello Based on the tried and tested method of CBT (Cognitive Behavioural Therapy), mindfulness and daily tracking, Sanvello employs techniques that help you to break the negative cycles of thinking that can otherwise lead to stress, depression and anxiety. The app is full of meditations and exercises you can do whenever you need them, handing you back a feeling of control when unhelpful thoughts threaten to take over. Best of all, you can track and plot your journey with the roadmap for improvement, showing you the way forward and the progress you’re making week by week. sanvello.com

Headspace A meditation app for all occasions, Headspace has programmes to combat stress, sleeplessness, anxiety and even a lack of focus. It’s broken down into solutions that fit in with your schedule, whether you have a whole lunchbreak to set aside or just a few minutes. It’s also built with emergencies in mind, and has some SOS settings for sudden meltdowns so you can bring everything back under control fast. You can personalise your meditation programme, and everything has been validated with clinical research so you can rest assured you’re using one of the best and most effective apps out there. headspace.com

Sleep Genius Insomnia - whether it’s brought on by stress or constant travel - can play havoc with your life. Lack of sleep can have a dramatic and negative effect on your waking hours , lowering your mood and affecting your ability to focus and work effectively. Sleep Genius was developed by a team who worked on ways to keep NASA astronauts well rested during space travel - when daily sleep cycles go completely out of the window, and when complete mental sharpness is essential for successful missions. Using a combination of audio programmes for relaxation, gentle alarms for waking up, and tracking to monitor your sleep cycles, Sleep Genius helps you to rebuild your natural sleeping patterns and get the most out of life. sleepgenius.com

podcasts Happier with Gretchen Rubin Gretchen Rubin is a writer who has spent much of her professional life examining the science and secrets of happiness. Her podcast ‘Happier with Gretchen Rubin’ breaks down much of her learning into small and manageable chunks, and you can browse her back catalogue to pick the episode that most speaks to you in your moment of need. It’s chirpy and bright in tone, chatting through a lot of the challenges we each face, and giving you tips to help manage them. gretchenrubin.com/podcasts

Savvy Psychologist Featuring ‘quick and dirty tips for better mental health’, this podcast is a bite-sized database of fast and useful ways to address almost any problem you’re having. With more than 250 episodes so far, you’re bound to find an episode to address whatever you’re currently experiencing or expecting to have to deal with in the future. Practical and no-nonsense, it’s the podcast busy people need to balance their mental health. quickanddirtytips.com/savvy-psychologist

The Anxiety Slayer This award-winning podcast is full of tips, tools and practices to help you calm anxiety, stress, PTSD, and panic attacks. With almost 500 episodes available, just listening to the smoothing and authoritative advice can be effective at calming your anxiety, even before you’ve tried any of the practical steps it delivers. anxietyslayer.podbean.com

Family Wealth Preservation BY LEONARDO WENGROVE, CEO AND FOUNDING PARTNER AT W ADVISORS FAMILY OFFICE

I have seen many families just trying to find good investments, good returns, good alpha, “we have to pursue Alpha…” just focused on investment issues, but they don’t even know what exactly they are looking for. The question is: What is the family mandate for the Family Office or their bankers. What are they looking for? Where would the family like its wealth to be in 10, 20, 50 and even 100 years? Will this generation spend their last cents on their funerals? Is inheritance not a priority? Or are they looking for Wealth preservation in a multigenerational way? The simple question: What is Family Wealth?There are many incredible entrepreneurs managing their companies in a very professional way. Their companies have Goals, Strategic Planning, sometimes even good practices of Corporate Governance… Why are they not giving the same treatment to their wealth? Sometimes this wealth is even greater than the company itself.The Family should be concentrating on the Strategic Planning, consumption rate, goals and objectives. They should be thinking about where they would like to be in 50 years. They must look ahead, look forward, work on the Family Agreement, think about the long term and, on the other hand, the Family Office must execute the daily business to deliver these goals

If we think of a Corporate Governance Structure, comparing both structures, we could say that the Family or the Family Council are the Board Members, always thinking strategically, and the Family Office is the Management Team, taking care of the short term issues.

Supposing we were driving a car, the Family is driving with high beams on and the Family Office is driving with low beams on and sometimes even with fog lamps as well. So, the Family Office is an independent structure, segregated from the family company. It is responsible for managing the wealth accumulated through the generations, be it financial, intellectual or social. Because it is a structure, it must be perennial. This management must be done professionally, with goals and objectives given by the Family Council.In a Family Enterprise, the family is the core business. Each member’s selfrealization is necessary for the equilibrium in the family, which helps preserve the integrity of the main business. Many companies go broke because of family disputes. This equilibrium I mentioned is important to avoid that, and preserve the company.Financial Capital we may lose or gain, partly due to our skills, but also because of the environment: it could be for politics or economic reasons, etc. Intellectual Capital, however, once acquired, is never again lost. In this sense, the best inheritance that can be left for future generations is Intellectual Capital.

At this point, Financial Capital is very important, because it will be used as the driver in this development process. They should provide this education, at the first moment at home, giving examples, principles and values. And at the second stage with good schools, or the best ones. At a later point, why not?, by financing good projects proposed by new members with entrepreneurial ideas, like a sort of family development bank, run by the Family Office.

The first generation should treat the next generation like a first generation, with enough difficulties, adversities and challenges to develop entrepreneurship. By the way, just the environment faced by themselves, or by the category of big and very well known entrepreneurs.

I am not saying that each member of the next generation should be training to work in the family business, I am saying that we should engage them to understand the meaning of theirs rights but especially to understand their obligations.

The key seems to be in finding the right balance between leaving them free enough to develop their entrepreneurship and providing them with appropriate family support. Only in this challenging environment, with enough difficulties and adversities will they acquire the muscles and maturity of great entrepreneurs. It is like a struggle.

Today as inheritors, but tomorrow as shareholders, working or not in the family business.Only so will these families have conditions to fight against the proverb “Shirtsleeves to shirtsleeves in three generations” and work on their family wealth preservation processes

aster village AN ECONOMIC, SOCIAL AND ENVIRONMENTAL COMMUNITY IN RURAL AREAS OF CROATIA FOR GLOBAL CITIZENS TO LIVE WITH PURPOSE AND IN HARMONY WITH NATURE

According to the McKinsey Global Institute, the 600 largest cities generate 60 percent of global GDP every year. More than two billion people are to move to global cities by 2050. People migrate to towns and cities in the hope of gaining a better standard of living. They are influenced by pull factors that attract them to urban life and push factors that make them dissatisfied with rural living. The environmental impact humans are having on the earth is irreversible given the amount of damage done, but it is possible to alleviate the burden placed on the earth by practising sustainability in all aspects of living. Last year, the Intergovernmental Panel on Climate Change (IPCC) reported that to keep the rise in global temperatures below 1.5C this century, emissions of carbon dioxide would have to be cut by 45% by 2030.

Leah Zveglich

The importance of building a sustainable village could not be more pressing. In order to conserve our planet and avoid over-consumption of resources, humans must practice sustainable lifestyles that are more efficient but beneficial to the environment.

who want to be around other people they can relate to and would like to spend time focusing on meaningful life with a purpose. It’s attractive for entrepreneurs and professionals who would like to balance work and life contributing to the economy and society while growing their business and profession.

At the 2005 World Summit on Social Development, it was noted that this requires the reconciliation of environmental, social equity and economic demands – the “three pillars” of sustainability. Our solution is Aster Village, an innovative smart rural village where economic, social and environmental activities are interconnected in sustainable manners setting a new standard of conscious living.

This is your life at Aster Village.

People move to cities to find a job or business opportunities. We bring jobs and business opportunities to Aster Village. We create an inclusive economy involving the local communities. People go to cities to meet people and enjoy cultural activities. We bring people and cultural activities to Aster Village. People are concerned about their health and environmental damage they cause. We provide a clean and green environment with smart homes and a village surrounded by organic farms and forests. We improve the quality of life with biophilic design, humans improving the environment and the nature helping humans to live a healthy life. We create a circular economy resulting in net negative carbon improving the environment. Aster Village combines the best practices of rural development, smart cities, and capacity building. It’s designed for people who want to live in a clean and green environment where they feel healthy and happy. It’s meant for people

I wake up in the morning with the sound of birds. I have so many options for morning exercise: nature walk in the forest, horse riding, yoga, pilates, swimming, and gym that the community center offers to residents. I get seasonal heirloom organic vegetables and fruits delivered weekly from Aster farm. I run a business from my office in the village co-working space. My partner is a seasoned entrepreneur from Japan. I always dreamed of being on my own and did not have an opportunity nor courage to do it. Here at the Aster Village, the opportunity is given to me. All I have to do is apply my knowledge and experience and manage it well. We have lunch together in the community kitchen, a home-cooked meal prepared by a chef. I cannot be happier. After lunch, I go to the adult education center where I teach a course on online marketing. It’s exciting teaching a group of global citizens who are so eager to learn. I never realized that I am a good teacher. I take a course on calligraphy and it’s fascinating. Now I am addicted to it. Late afternoon, I stop by the community center for the afternoon tea. I find my fellow residents and visitors intellectually stimulation and personally interesting. I’ve never met so many interesting and accomplished people from different countries in my life.

I love coming home at the end of the day. It’s built with all the conveniences I need and I know that everything is environmentfriendly. Water I use is treated and used for farming. Everything I use is recycled. The village contributes to reducing carbon. My health has improved significantly since I moved to Aster Village. I don’t think I ever felt this good.

ASTER VILLAGE IS MORE THAN A PRIVATE PUBLIC PARTNER PROJECT OR AN ENVIRONMENTAL SOCIAL ENTERPRISE. IT IS A MOVEMENT TRYING TO CREATE A SUSTAINABLE VILLAGE OF FUTURE WHERE ECONOMIC, SOCIAL AND ENVIRONMENTAL ACTIVITIES ARE INTEGRATED.

I am free of stressful lifestyle I used to have, free from pollution of any kinds, am eating healthy organic food all day long every day, am staying physically, mentally and socially active.

JOIN THE ASTER VILLAGE BY BEING AN IMPACT INVESTOR, A BOARD MEMBER, AN ADVISOR, AND A RESIDENT!

Besides now my life has a purpose and impact. I am happy! Moving to Aster Village is the best decision I made in my life!

CONTACT LEAH ZVEGLICH AT LEAH@ASTERVILLAGE.COM.

UNLOCKING NEW INVESTMENT OPPORTUNITIES WITH CHINA’S NEW SMART TOWNS As China enters its second transformation, the biggest risk for investors would be to pass on growth opportunities in an alldigital economy By Stacey Rodrigues China has traditionally been viewed as a high-risk market. The country’s system, different in its regulations and commercial practices, has deterred investors from making their move. However, according to Benson Tam, Chairman and Founding Partner of Venturous Group, one of the biggest risks for investors today would be to pass on the opportunity to strike before China’s second transformation shifts into high gear. In the last few decades, China has undergone an unprecedented speed of transition. Its increasing urbanisation and emerging middle class have resulted in a complete consumption upgrade, changing the way its people live, work, and play.

The Internet of Things (IOT) has played a key role in China’s transformation thus far, and one of the biggest catalysts over the next five years will be the proliferation of 5G technology. “5G is service at the speed of light,” says Tam. “It will transform a lot of industries. The Chinese government has introduced multiple initiatives to drive 5G deployment, and we are at a moment in time that is very exciting for everyone.” While China’s urbanisation has been a key driver for its economic growth, it has brought about its own set of challenges. For many of China’s middle class, overly cluttered city centres have resulted in exorbitant property prices, lengthy commutes, and increasing pollution from road traffic.

For Tam, China is on the fast track to be the first all-digital economy, having already taken great

“The time has come for people to move out of overly-

strides to becoming a fully cashless society.

congested, developed conurbations, and live a better

According to Worldpay’s Global Payments Report

quality of life,” says Tam, “and that is why we have

2018, the size of China’s e-commerce market

brought the right businesses together to develop Smart

stands at US$1.26 trillion, with mobile

Towns.”

transactions making up more than half of the nation’s e-commerce – eWallets are the top

The idea of Smart Towns – new, purpose-built and

payment method online and in-store.

sustainable satellite towns – is not new. Smart Towns, like Alibaba’s Hangzhou Cloud Town, have become test

“We have reached a tipping point,” says Tam, who heads Venturous Group from its Beijing headquarters. “Next year, 2020, will be the official start of China’s all-digital economy. The country’s 500 to 800 million consumers will make all their transactions online – whether it’s for work, play, or everyday living.”

beds for solutions to some of the world’s greatest urban problems. In 2018, when online-to-offline commerce became the new normal, especially with Alibaba’s “new retail” operations, Hema, the idea of a 30-minute living radius was realised. “All business, all commerce, all retail

Source of China’s e-commerce market size: https://www.worldpay.com/en-sg/insights-hub/article/2018-global-payments-report-7-ecommerce-takeaways

are effectively in a circle within 30 minutes of delivery to anyone,” says Tam. “If you add up all three – commerce, retail and residential – that’s where we realised, these are fully-integrated Smart Towns.” One key development that will set new Smart Towns up for success is the deployment of the intercity high-speed rail which has started connecting more cities this year. As China continues to roll out its high-speed rail system, there is less of a need to live in Beijing or Shanghai because an outer-city commute can be reduced from a 1.5-hour drive to a 30-minute high-speed train ride. “If we can move people 23 minutes outside of Beijing into a new town, which is green, which is purpose built, then it could solve the three biggest life problems in China – housing, mobility and pollution. This is one of the biggest investment opportunities,” says Tam. Smart Towns are an opportunity to reimagine cities and positively impact, not only the way people live and play, but also how they work. New smart commercial developments would give residents more options to work in the same town that they live in, as they will attract the best companies and talents, significantly reducing the need for commuting. Traditional real estate companies have tried but failed to innovate in the property space, leaving a gap for new players to enter. Smart Towns are captive markets for the technology companies that Venturous invests in as smart urban development must be led by established tech innovators, inspiring Tam and his team at Venturous to bring both real estate and technology together to build new Smart Towns with unique investment opportunities.

Venturous Group’s Hero Fund is being launched with the objective to deliver asset-backed venture-like returns on capital by investing in a balanced and synergistic mix of Smart Town real estate development and technology companies. This large-scale, complex system integration requires an ecosystem of the right partners – from world class experts at the built environment to property developers and the biggest names in China’s technology sector.“ From day one, we have started to build a big partnership programme and ecosystems, getting ready so that everybody can start work together,” says Tam. “With the right partners, the bulk of the Smart Towns would only take us six to eight years to build up, and so we need a lot of friends, a lot of consortium members, a lot of partners, working in tandem. As we work in tandem, we reduce the risk to everyone.” China’s smart urbanisation is expected to generate trillions of dollars in economic value over the coming years as annual combined smart city spending is expected to climb to US$320 billion by 2025, according to estimates from Frost & Sullivan and Bloomberg Intelligence estimates.“ China’s pace of transition is speeding up that’s why I feel the urgency and excitement with this,” says Tam. “Nobody should miss China, but I realise everyone is a bit scared because ultimately, it is new for them. But let us at Venturous Group take you by the hand and walk you through this.” “I will put a lot of my own money into this. I am ‘eating my own cooking’. We are the insiders who have been here for 20 years, and we are very thoughtful about the next 20 years – how to make smart investments and navigate through potentially risky situations.”

The rise of the nanodegree THE EDUCATION REVOLUTION IS HERE As the cost of taking traditional degrees rises around the world, and living costs do the same, the traditional four-year university degree may no longer be accessible to all potential students. On top of paying for their tuition for the whole fouryear period, they also need to cover the costs of daily life, including their transport. All the while these students are far too busy studying to work a full time or even a part time job to help them pay to live. And if we take into account the rapid pace at which technology - and particularly online and digital industries are changing, taking a four year course could see students graduate into a marketplace no longer resembles the one they spent all their time studying. Thankfully the higher education sector is also changing to meet the challenges and demands of modern day employment and lifestyle, and nowhere is this more apparent than in the rise of the Nanodegree. This shortened version of a higher education certificate has been designed by course provider Udacity, and it differs from the traditional degree in a number of ways that make it a very exciting resource

for businesses and potential students to tap into. Firstly there’s the brevity of the courses on offer. Courses typically run for 6-12 months, totalling 1020 hours of study per week. Then there’s the cost, which is set at an affordable $200 per month. Thirdly, Nanodegree students study online rather than visiting a physical campus, with the learning falling into a new genre of education known as a massive online open degree. And finally, the focus of the courses is heavily vocational, teaching students what they need to know to go directly into a specific role or area of work. Udacity grew from being an offshoot of the free computer science classes offered by Stanford University, but became its own company in 2012, supported by a $15million investment from venture capital firm Andreessen Horowitz. The four areas of study Udacity currently offer are front-end development, back-end development, iOS development, and data analysis. You would struggle to find a successful or growing business today that doesn’t need access to employees with up-to-date skills in any of these areas.

In order to keep the course content up to date and relevant, Udacity has high profile partners including AT&T, Cloudera, Salesforce, Autodesk, Google, Hack Reactor, Facebook, and MongoDB. Students are flocking to take their Nanodegrees, with 40,000 students graduating in 2018, up from 18,000 in 2017. The total number of students on all courses right now is around 10 million, and the growth in student numbers doesnâ€™t look set to stop anytime soon. But the students arenâ€™t the only ones to benefit from the popularity of the Nanodegree. Udacityâ€™s profits for 2018 were around $90million, up from $70million in 2017 and $29million in 2016. Of course there are some downsides to this emerging trend of shortened online courses, and businesses may need to consider these when hiring graduates whose only experience of study has been an online Nanodegree. There are valuable life lessons that form part of the traditional university experience which cannot be replicated by an online course, including independence and various social skills. But as employers themselves become more holistic and responsive to the mental health and other needs of their workforce, it makes good business sense for them to invest a little to plug these potential gaps. The result could be a workforce that graduates with absolutely all the knowledge and skills a business requires, needing only a little cultural support along the way. To find out more about Nanodegrees you can visit the Udacity website at udacity.com/nanodegree

The Gadgets Every Frequent Traveller Needs illumy sleep mask What is it?

This is more than just your average sleep mask. Using LEDs and its own app, the Illumy sleep mask sends you to sleep with pulsing red lights, and wakes you up again with blue and white ones. It might sound a little unfeasible that red lights right in front of your eyelids would be at all relaxing, but it’s surprisingly effective and inducing sleep. Meanwhile the cold blue light mimics daylight to bring you slowly out of slumber in a natural way, in accordance with your sleep stages. And if the lights fail to rouse you awake, there’s also a bleeping alarm you can set which goes off right in the middle of your forehead - very speedily bringing you round! The app allows you to set a home and a travel time for different time zones, as well as giving you an option for how long you want each light cycle to last (anything from 10 minutes to an hour before you want to wake up or go to sleep). Why is it good for travellers?

Jetlag can play havoc with your brain, making business meetings difficult, and leisure time feel wasted. With a gadget like this you can trick your brain into adopting a new ‘dusk’ and ‘dawn’ time. Use it with gradual time adjustments in the days running up to a trip to reset your body clock even faster for your arrival. You can even use it on the plane on your way there, or to help you adjust to the new timings once you’ve arrived.

Fancii Cool Mist Personal Humidifier What is it?

This miniature personal humidifier converts a standard bottle of water into a skin-saving mist - and all while you’re on the go. You can use it in hotel rooms, cars, and even while you’re on a flight. It’s a whisper quiet 15db, so as not to disturb your fellow travellers, and it’s cordless so you can carry it with you and use it whenever you need to. There’s a timer for automatic shut-off, and it’ll turn itself off if it runs out of water - so don’t worry about falling asleep while it’s working. Why is it good for travellers?

Perfect for any small space - such as the ones you’ll inevitably find yourself in while you’re travelling - this humidifier will stop the air conditioning of planes and hotel rooms from drying out your skin. Dehydration can have other serious consequences too, from mental slowness to headaches and body pains, so this little gadget can help you to stay on top form when you’re jetting around the world. It’s lightweight, and operates with batteries but also has a USB port too.

Bose QuietComfort 35 Noise-Cancelling Headphones What is it?

These headphones are the ultimate at blocking out all other sounds, giving you the best possible audio no matter what you’re listening to. They’re fully Alexa-ready, and also have a dual microphone system so they pick up voices clearly and effectively. Bluetooth connection means no cord to get tangled or lost. It also comes with its own app, so you can fully personalise it to your listening preferences. Why is it good for travellers?

You can pick from three levels of noise cancellation to suit your surroundings, whether you’re in a noisy hotel, a plane, a train or any other busy travel-related environment. Whether you’re listening to an audiobook to stay awake, white noise to go to sleep, or music to focus while you do some work on your journey, the noises around you won’t interfere with your brain at all as long as you’re wearing these.

Kindle Oasis Ereader What is it?

We all know what e-readers are by now, but just in case you don’t: it’s a tablet designed specifically for reading digital versions of books and magazines. This model of Kindle ereader is the thinnest and lightest yet, with the most effortless controls and the longest battery life. It has a high resolution display and an adjustable light display too. Make text bigger or smaller, and even translate it between languages whenever you like. Why is it good for travellers?

Stay entertained and up-to-date on your reading without having to pack a single book or magazine, keeping your luggage lighter and more organised. This model is particularly lightweight and ultra thin, making it as convenient as possible to carry with you while you’re travelling. The long-life battery means you can read it on long haul travel without running out of power halfway there, and the adjustable light means you can keep your eyes comfortable whether you’re on a dimly lit night flight or the bright blazing sunshine.

Flight 001 4-in-1 Adapter What is it?

An almost universal plug adaptor, the Flight 001 is a series of colourful coded cubes you can arrange into many different combinations. It uses something called the JA/C READY Adaptor system, which basically means it’s a reliable and professional standard piece of equipment - no matter how bright and playful it might look. You’ll still need to make sure your devices are the right voltage for the country you’re visiting though, because while this gadget can help you plug in wherever you go, it’s not a power convertor. The box comes with a reference list of the top 48 country combinations to help you figure out the right one fast. Then you just match up the colours, and you’re good to go! Why is it good for travellers?

If you’ve ever had the last minute panic of trying to find the right travel adapter for a journey abroad, brought the wrong one, or stockpiled duplicates back home by accident after buying them on your travels, then you need this in your life. This tiny package is packed with the power to plug you in in 150 different countries, so just forget the research and throw it in your case.

GRAYL Inc. Ultralight Water Purifier Bottle What is it?

This 16oz water bottle does more than simply keep you hydrated - it transforms potentially unclean water into fresh and drinkable liquid almost instantly. Purifying and filtering any water you put into it, it removes 99.99% of viruses, bacteria and more, as well as separating chemicals and sediment at the same time. The filter inside can last for up to 300 uses before it needs to be replaced, and the bottle itself is durable and built to last. Why is it good for travellers?

If you’ve ever arrived in a new country and been unsure whether or not the water is safe for you to drink - or you’ve accidentally had a drink of water that’s made you feel ill - the usefulness of this bottle simply can’t be overstated. Simply filter any water through it and you can be confident it’s as clean as it could possibly be. Save time worrying or researching every new country you visit, and just throw this into your luggage everywhere you go. It’s equally as handy whether you’re in a luxury hotel room or camping by a stream, either way it will make your nearest water source safe and drinkable.

Alea Upcoming Summits 19-20 February 2020 – Africa Family Office Investment Summit, Mauritius 22-23 March 2020 – Middle East Family Office Investment Summit, Dubai, UAE 11-12 May 2020 – APAC Family Office Investment Summit Hong Kong 10-11 June 2020 – Latam Family Office Investment Summit, Mexico City, Mexico 5-6 October 2020 – US Family Office Investment Summit, New York, USA

Visit aleaglobalgroup.com/conferences for more information

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