Digital Nomads Asia – Lost Nomad Thu, 23 Jun 2022 10:53:05 +0000 en-US hourly 1 Digital Nomads Asia – Lost Nomad 32 32 Enriching stays on your way Thu, 23 Jun 2022 02:31:00 +0000

When it comes to accommodations, some seek a soothing retreat. Others like their comfort, especially when it comes to long-term stays. Then there are those who wish to live like a local. When these needs are met, the space becomes a home.

As Far East Hospitality transitions from midscale hotel operator to lifestyle brand builder, it incorporates these nuanced qualities to transform the guest experience. Guests can choose from a plethora of lodging experiences, from lavish boutique hotels to well-placed full-service apartments.

The Clan Hotel Singapore is an example of Far East Hospitality’s elegant hotel offerings. Opened last year, it is well placed on the outskirts of the central business district. It offers guests a taste of modern luxury while acknowledging a variety of traditional Asian experiences – guests are even greeted with a traditional tea ceremony.

For another take on luxury, opt for The Barracks Hotel in Sentosa. Lavishly restored, the former British artillery outpost lends a majestic English ambience for an enriching stay. Coupled with the impeccable service of the staff, time spent amidst the colonial architecture of this historic boutique hotel offers a glimpse of a bygone era.

Guests looking for a unique getaway can find what they are looking for at the Quincy Hotel Singapore. The hotel offers services adapted to your personality. Extroverts can paint the town red with new dining experiences and access to the city’s most popular events while introverts can bask in its sheltered infinity pool overlooking the city. You choose your own adventure.

This year, Far East Hospitality is launching two new brands in Singapore: Vibe Hotels and Adina. Formerly The Elizabeth Hotel, Vibe Hotel Singapore Orchard focuses on creating open social environments that foster interaction with guests. For today’s digital nomads and solo travelers looking for transient networks or connections, the hotel will provide ample opportunity to do so when it welcomes its first guests later this year.

As for Adina Serviced Apartments Singapore Orchard, which will open in July, it takes over the former Regency House. With its inaugural brand entry in Asia and Singapore, the group welcomes a chic aparthotel that caters to business and leisure travelers seeking extended transitional stays.

Guests can expect the same level of diversity and reception at all Far East Hospitality properties overseas. From the Far East Village hotels in Yokohama and Ariake to the Oasia Suites in Kuala Lumpur, one can easily discover the themes of value, well-being or comfort. With upcoming projects like Dream Hotel and Suzu Hotel in Ho Chi Minh City, Far East Hospitality will continue to build and manage lifestyle brands in the hospitality industry.


Tourism is back in Southeast Asia, with a noticeable absence – SupChina Tue, 21 Jun 2022 09:12:18 +0000

Tourism is back in Southeast Asia, with a noticeable absence – SupChina

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]]> Comment: New waves of tech work are too confusing for too many people – that’s a problem Mon, 13 Jun 2022 22:06:52 +0000

The same thing happened last month when another reporter, Pete Paphides, wrote about her late father who received a parking fine because he couldn’t pay electronically.

The story prompted campaigner Esther Rantzen to tell the BBC that “very often decisions are made by people in their 40s who literally don’t understand that older people should feel differently about the decision they are making”.

Even younger, tech-savvy people can be confused. “I got frustrated on some mobile apps,” a 35-year-old American named Biron Clark told me last week.

He was a tech recruiter in New York, but now runs his own job search advice website, Career Sidekick. from Panama City. He doesn’t think younger software developers are necessarily to blame for creating apps that vex older users. As he says, their bosses should make sure life online is easy to navigate for everyone.

And after learning everything he needed to build his website, Clark has some encouraging words for those worried the digital revolution is leaving too many people behind. “I only feel positive about it,” he says. “There are just more opportunities every year for those who pay attention.”

I’m sure he’s right, but if everyone who took advantage of these opportunities paid more attention to the needs of all users and used a language that everyone can understand, the inexorably online world would also be much better than it is today.

Vietnam jumped five places to rank 54 in the world’s top startup ecosystems Sun, 12 Jun 2022 07:21:04 +0000

Vietnam has moved from sixth to fifth place in Southeast Asia, overtaking the Philippines, and is well positioned to overtake Thailand (rank 4) next year if this positive momentum continues.

The gap between the only two ranked Vietnamese cities has widened this year. Ho Chi Minh City ranked first and edged closer to the world’s top 100, jumping 68 places to 111 and showing positive momentum from last year. This rapid growth signals that good things are happening in Ho Chi Minh.

“On the other hand, Hanoi has dropped 31 places to 222, falling from the top 200 in the world. Having Hanoi and Ho Chi Minh City as innovation hubs is a huge bonus for the Vietnamese ecosystem, but I hope that d “Other cities will follow. With Vietnam’s population nearing 100 million, two classified ecosystems are certainly not enough,” the report said.

The Vietnamese startup ecosystem has enormous potential, mainly due to the economy’s substantial market size, making the creation of successful local startups profitable even if they don’t expand internationally.

A large number of expats and digital nomads in Ho Chi Minh City also contribute to the growth of the local ecosystem.

However, to become a true regional and global hub, Vietnam will need to generate innovations with regional or global impact.

To attract foreign investors or companies to Vietnam, the government offers tax incentives. In 2016, Vietnam approved the Vietnam Startup Ecosystem Initiative to 2025, popularly known as the National 844 Program, to further promote thriving startup ecosystems in the country.

Since the start of the program, there has been strong growth in both the number of new startups and their revenue. In 2018, the government approved the Small and Medium Enterprise Support Act to support startups through technology transfer, investment, training, and incentives for venture capital funds.

According to StartupBlink, growing industries attracting investors to Vietnamese startups include e-commerce, fintech, food tech, business solutions and IT services.

With unicorns such as MoMo and Sky Mavis, Vietnam is proving to be a startup powerhouse in Southeast Asia.

Source: VIR/StartupBlink

Travelers are going on vacation for longer than ever. They stay here Sat, 11 Jun 2022 13:30:03 +0000

Like many Americans, Anne Minteer is vacationing longer than ever these days. She has some catching up to do as travel resumes after the pandemic.

But when she recently traveled to New York to visit her daughter, Minteer skipped a hotel in favor of a short-term stay in an apartment.

A friend had recommended Blueground, a company with a network of serviced apartments in 25 cities around the world. She quickly found an apartment in Manhattan that saved her thousands of dollars.

Americans like Minteer are taking longer vacations than they have in generations. The trend started in 2021 when travelers started extending vacation time in response to pandemic shutdowns.

It has now become one of the biggest travel trends in the United States in 2022.

  • Amex Travel’s latest 2022 Global Travel Trends Report found that 55% of US travelers say they are willing to take longer trips in 2022 since they can work remotely throughout the year.
  • Home exchanges of two weeks or more — the definition of an extended stay — jumped 13% between January and May compared to the same period in 2021, according to the HomeExchange website. That’s on top of a 133% increase from 2020. “Exchanges longer than two weeks are on an upward trend globally,” says HomeExchange spokeswoman Jessica Poillucci.
  • Hostaway, a vacation rental management platform, says trips over 28 days have increased 106% since 2019.

But where are the travelers going? Newer options range from serviced apartments like Blueground to hotels and traditional vacation rentals. But it pays to know a thing or two about the extended-stay accommodation industry before you book.

Extended stays are a major consumer travel trend this year

So what is driving this trend?

Travelers say they are making up for lost time in 2020 and 2021 when they weren’t able to travel. But the pandemic has pivoted much of America’s workforce to working from home. And it freed millions of American workers, who were free to pursue a digital nomad lifestyle.

“The increase in workcations has driven travelers to alternative lodging options,” says Dimitris Chatzieleftheriou, Blueground’s general manager for New York. “In the US specifically, Blueground customers were initially booking for less time during the height of the pandemic, but the rate of extension doubled as they wanted to continue living a flexible lifestyle.”

Hotels don’t always match this new travel trend. This is because they are for short term guests. But that hasn’t stopped travelers from trying.

Consider the economics of visiting Minteer in New York. Hotels were $500 a night and had no kitchens available. The Blueground rental, which cost $300 per night, came with a full kitchen and living room.

“We booked an initial six-week stay in a Blueground apartment in Chelsea, a neighborhood in southwest Manhattan,” says Minteer, a retired attorney.

Minteer says she has had such a positive experience that she is booking another Blueground rental in New York later this year.

Travelers looking to stay longer turn to aparthotels

Some companies try to give extended stay customers the best of both worlds. This is the idea behind Rentyl Resorts. It offers the privacy of a vacation home with the benefits of a hotel. Rentyl offers a selection of branded residential complexes such as Margaritaville Resort Orlando and Rum Point Club Residences in the Cayman Islands. Rates are generally about the same as a full-service hotel, but you also get the amenities of a vacation home. It’s also a more seamless experience, says Nick Falcone, CEO of Rentyl.

“There’s no janky guy who lets you into his house,” he adds. “No awkward interactions or hiccups with owners.”

Hotel residences cater to these new travelers with preferential rates. For example, the Latitude Aparthotel in Cape Town, South Africa has launched a new business travel package called “rise and prosper”. It offers one-, two-, and three-bedroom oceanfront accommodations with full kitchens, living rooms, coworking spaces, and breakfast and dinner included. Digital nomads from the United States can stay in South Africa for up to three months without a visa.

ROOST Apartment Hotel, another brand that bridges the boutique hotel experience with apartment living, is doubling its portfolio with new locations in three US cities. The company, operated by Method Co, just opened a new ROOST Cleveland location. Later this month, he will cut the ribbon at a property in Tampa. And he has plans for locations in Detroit and Charleston.

ROOST Tampa pushes the boundaries of apartment living. It will unveil a new co-housing unit – a category of shared accommodation for travellers. The property will also feature a 30,000 square foot floor of amenities, including a large pool deck with cabanas, an outdoor bar and grill, and a movie screening room.

Timeshare is also experiencing a trend towards longer vacations

Even timeshare, traditionally the domain of short-term leisure travellers, has been affected by this trend.

Travel + Leisure Co., which operates the world’s largest vacation ownership company, Wyndham Destinations, saw a 10% increase in length of stays at its vacation resorts.

Wyndham properties are ideal for a longer stay. Its 245 timeshare properties include multi-bedroom suites with full-service kitchens and separate living areas. I’ve spoken with Wyndham property managers, who say some guests live full-time in their timeshare.

This summer, many Wyndham properties are booked. “Properties near national parks are growing in popularity,” notes Michael Brown, CEO of Travel + Leisure Co.

Vacation rentals are modernizing for long-term travelers

Travelers with extended itineraries are also turning to vacation rentals. Jurny, a vacation rental app launched in 2019, saw $1.3 million in booking revenue last month, a 98% increase from the same period a year ago, according to CEO Luca Zambello. It now lists over 1,000 units in the United States and is also experiencing strong growth in international markets.

Competition for long-term tenants is fierce. Onefinestay, a luxury rental company, offers discounts for long-term stays. They range from 10% off for stays of 30-59 nights to 25% off for stays longer than 90 days.

“The trend towards longer stays has accelerated,” says Dan Driscoll, co-founder of Boutiq, a luxury vacation rental network. “We definitely see this trend continuing in Boutiq’s portfolio of high-end vacation rental properties.”

The trend continues during the quieter months of the year, when vacationers typically stay home. But Driscoll also says there’s a lot of competition with other hosting options.

“To win these bookings, we’ve made sure our homes have high-speed internet access and dedicated workspaces so our guests can seamlessly integrate their vacations with work and school duties,” he said. -he declares.

Boutiq’s portfolio is mainly made up of large single-family vacation homes. Thus, his homes are intended as gathering places for families and friends, with discreet and functional places to work comfortably and efficiently when necessary.

“And who doesn’t want to sit on a porch looking at the mountains or the beach while working?” he adds. “It sure is better than a cabin.”

Even hotels are joining the extended-stay trend

Hotels are trying to be part of this consumer travel trend. For example, Element Hotels, Marriott’s extended-stay brand, offers a “Studio Commons” room concept aimed at guests staying longer. It mixes a hotel room with a home rental by connecting four private rooms with a shared kitchen and living room.

Hotels are encouraging guests to stay longer in other ways. IHG is offering IHG One Rewards members a Stay Longer & Save rate with up to 15% off every time they book three or more nights in the United States

The Palm Beach Marriott Singer Island Beach Resort & Spa, which already offers condo-style rooms with full kitchens, washers and dryers, has just introduced a Stay Longer and Save rate of up to 20% off hotel stays. four or more nights. (Available now through September 5; rates start at $550 a night.)

Tips for your next extended stay

Experts say there are so many choices, it can be difficult to find the right accommodation for an extended stay.

Here are their tips:

Find the right site for your stay. After checking Airbnb,, Vrbo and Agoda (in Asia), try to specialize in the type of accommodation you want. Chris Cerra, founder of RemoteBase, a newsletter for remote workers, suggests checking out sites like Sonder, which specializes in serviced apartments. If you prefer a co-living space, check out The Collective and Selina. And don’t forget booking platforms for digital nomads like Flatio and Nomad Stays.

Read the terms carefully. Some vacation rental companies will require you to sign a lengthy contract. Other rentals require a monthly subscription. Still others charge cleaning fees or take large security deposits. When it comes to extended stays, there are no industry standards — at least not yet. So check the documents before making a booking decision.

Ask about amenities. For example, onefinestay’s standard amenities list includes weekly professional housekeeping, Wi-Fi, 24/7 local support, complimentary toiletries, and a welcome pack with tea and coffee. Other extended-stay properties will stock your fridge with groceries or include happy hour drinks or breakfast. Again, there’s no industry standard for amenities, so you have to ask.

Extended stays are one of the biggest travel trends in the United States in 2022. If you think a longer vacation is in your future, familiarize yourself with all the options. And don’t forget to read your contract.

TheMacLyf shares his views on how to make money online while traveling the world Thu, 09 Jun 2022 14:56:00 +0000

Mackenzie in Bangkok

Mackenzie Thompson talks about how he and his company are able to generate income online from various countries and the issues he faces.

Take the scariest path and you will find the best fruit”

—Mackenzie Thompson

SYDNEY, NEW SOUTH WALES, AUSTRALIA, June 10, 2022 / — Traveling the world and making money at the same time might seem like a dream to most. With Instagram’s “Vloggers” who keep coming up with the dream lifestyle and the beauties that can come with it. Mackenzie Thompson is one such traveling nomad and explains both the strengths and challenges one faces when traveling and working online.

Mackenzie believes that if someone is running their own business, that lifestyle is much more enjoyable and easy because an individual can work their own schedule and not constantly “flex” to meet international time zones. Challenges to this lifestyle arise when meeting times and schedules conflict with clients and counterparts on the other side of the world. Depending on the type of work one does, self-employment or running a business like an e-commerce store, Mackenzie believes “the fewer meetings the better.”

The joys of travel come especially when traveling to countries like Southeast Asia, because living expenses are so cheap while the business can still generate foreign money, often with much better “ conversion rate”. Mackenzie explains how, by drastically reducing the cost of living, you can reinvest more money in your business and succeed faster.

Another problem can arise if the country has low or slow internet connection speeds, as any large file takes a long time to transfer and download. Mackenzie recommends sticking to major hotels with good wifi connections, otherwise there will be a constant struggle with internet disconnects and signal dropouts. However, if someone manages to maintain a strong internet connection at all times and stay motivated to focus on their business even with all the distractions, the rewards can be handsome.

Overall, Mackenzie thinks that if you’re willing to work hard, stay focused, and learn to say “NO” more to people’s requests and meetings, the journey of a digital nomad can be one of the journeys funniest and most rewarding and above all one of the most profitable.

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Expensive cities for expats: Here are the 20 most expensive cities in the world for expats Wed, 08 Jun 2022 07:00:00 +0000 Hong Kong is the most expensive city in the world to live as an expat for the second year in a row, according to a new study. New York and Geneva took second and third place in the ranking.

Higher prices and a stronger currency over the past year have kept the Asian city at the top of the tree, according to ECA International, which conducted its research in March this year. London and Tokyo complete the top five.

To check if you are eligible to immigrate, Click here

Soaring rents are part of the reason London and New York ranked in the top five, with rents in those cities rising 20% ​​and 12% respectively.

Elsewhere in the cost of living report, Singapore remained in 13th place despite significant increases in rents, petrol prices and utilities. These were offset by the weakening of the Singapore dollar against other regional currencies during the latter part of the investigation period, the ECA said. Japanese cities all fell down the ranks as the yen weakened, while Chinese cities rose – with Shanghai and Guangzhou in 8th and 9th positions respectively – on a stronger yuan.

Here are some other survey results:

  • Gasoline prices climbed an average of 37% from a year earlier across all cities, while Beirut saw a 1,128% increase
  • Ankara in Turkey is the world’s cheapest city for expats, having fallen five places to 207th place
  • The war in Ukraine saw cooking oil prices rise by an average of 25% last year across all cities in the ranking
  • Fuel prices in Tehran were the cheapest, with a liter of gasoline costing just $0.09
  • A cup of coffee at $5.21, a liter of gasoline at $3.04 and a kilo of tomatoes at $11.51 are just some of the prices that propelled Hong Kong to the top of the list.

“Although Hong Kong has been less affected by rising global inflation than other regional and global locations over the past year, it is still the most expensive place in the world,” the director said. ECA International Regional for Asia, Lee Quane, in a press release. saying.

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“It is the strength of the Hong Kong dollar, which is pegged to the US dollar, over the past year that has allowed it to maintain its position as the most expensive place in the world as other currencies have fallen. weakened.”

ECA International analyzes the cost of consumer goods and services at over 490 locations worldwide, while accommodation data is also factored in, comparing rental costs in areas typically inhabited by expatriate staff in over 410 locations worldwide. The latest report ranks 207 cities in 120 countries.

Here are the 20 most expensive places in the world for expats (with the March 2021 ranking in brackets):

  1. Hong Kong (2021 ranking: 1)
  2. New York, USA (4)
  3. Geneva, Switzerland (3)
  4. London, UK (5)
  5. Tokyo, Japan (2)
  6. Tel Aviv, Israel (7)
  7. Zürich, Switzerland (6)
  8. Shanghai, China (9)
  9. Guangzhou, China (10)
  10. Seoul, South Korea (8)
  11. San Francisco, USA (15)
  12. Shenzhen, China (12)
  13. Singapore (13)
  14. Beijing, China (16)
  15. Jerusalem, Israel (18)
  16. Bern, Switzerland (17)
  17. Yokohama, Japan (11)
  18. Copenhagen, Denmark (14)
  19. Oslo, Norway (19)
  20. Taipei, Taiwan (21)
AND online

]]> Here’s how to start your life as a digital nomad in 2022 Wed, 08 Jun 2022 03:28:04 +0000

As a writer and content creator, the idea of ​​living as one digital nomad always pleased me. Having the freedom to work from anywhere in the world would be a dream come true.

Hey, I could totally do my work remotely”, you might think. It sounds enticing, but the multitude of factors to consider might deter most budding digital nomads. Where do you even start? Can you start as a digital nomad without leaving the country? So many questions, so few answers.

If you’re new to all of this, your work-from-anywhere journey can still be kickstarted. right here in Singapore. Here are four ways to get started.

1. Make the transition to remote work

Photo: Pexels

Let’s not deny that the pandemic has accelerated the transition to a decentralized workforce, giving rise to many remote work opportunities. From social media writers and managers to software developers and wealth bank executives, there are different areas where digital nomads excel.

If you’re currently in a position that doesn’t require you to work in a specific location, talk to your supervisors and inquire about the possibility of moving to remote work, indefinitely. If you are self-employed, you can work remotely for other companies, or even become an entrepreneur. The number of available options is increasing every year due to downsizing and cost reduction.

Photo: Unsplash

Contrary to popular belief, the simple act of working from home is not remote work. Geographic independence is the key to a nomadic lifestyle. And despite any initial skepticism you may have, don’t quit your day job – it would be foolish of you to do so, unless you have a very strong backup plan. You should be able to find a compromise with senior management. If you are ready to take on a slightly different responsibility, or even a new official role, you will come one step closer to achieving your dream.

2. Establish multiple streams of income

digital nomad
Photo: Pexels

Have both a regular income and a secondary agitation propels you towards a fully nomadic lifestyle? Yes, but be prepared to put a lot of time, effort and energy into it. Having multiple sources of income will definitely increase your earning potential and longevity as a digital nomad. For example, you can freelance while managing an e-commerce site or a social media account. You could tutor and sell insurance at the same time.

Photo: Unsplash

Passive Income Streams are also popular among digital nomads as they require little effort to maintain. This includes royalties from an e-book or piece of music, online courses that can be sold for a profit, and many more. In Singapore, many choose to earn passive income from investments such as stocks, ETFs, property, or even crypto.

Of course, thorough research and planning ahead are a must before making any major financial decisions. There’s no one way to do it right, but having multiple sources of income will prepare you for future travels and your eventual retirement.

3. Join a community

Photo: Pexels

Is it lonely to be a digital nomad?

Not when you put yourself in a position to meet and connect with like-minded people. There is a lot of digital nomad communities around the world, not to mention Singapore. Facebook and Telegram groups are also good resources worth turning to – you’re sure to find locals and foreigners looking to make friends. And of course, the opportunities for collaboration and networking offered by coworking spaces are incomparable.

4. Find the right coworking space(s)

Photo: JustCo

Working in cafes and libraries can be highly idealized on social media, but let’s face it, nothing beats the work environment, accessibility and convenience of dedicated staff. A common workspace. A good coworking space should not only offer plenty of amenities and shared office facilities, but also have room for the growth of a vibrant community.

An ideal coworking space for digital nomads

digital nomad
Photo: JustCo

If you are looking for a coworking space, JustCo is the place for you. As the leading provider of flexible workspace solutions in Asia, they offer different workspace options ranging from shared offices to private offices and corporate suites. For digital nomads, you might want to consider JustDesk Unlimited for a more flexible and relaxed workspace setup.

Benefits exclusive to JustCo

Photo: JustCo

JustCo members can enjoy the following benefits:

  • Use of business address and handling of mail
  • 24/7 access to the visitor center
  • Access to common areas of all local and international JustCo locations during opening hours
  • Use of food pantry with complimentary refreshments at select centers
  • Provision of instructors for members in selected centers
  • Front desk assistance, daily housekeeping and utilities
  • Member-exclusive rates and benefits
  • Access to social events and networking sessions
Photo by Confirm Good

Sounds too good to be true? We visited JustCo’s first smart coworking center in Singapore at The center point. Here’s what to expect.

Meeting rooms

digital nomad
Photo by Confirm Good

Need to organize a team meeting, a workshop or a client session? Meeting rooms with high-speed internet and state-of-the-art technology are available for paid rental and can be easily reserved using the JustCo mobile app.

Well stocked pantry

Photo by Confirm Good

No coworking space is complete without a well-stocked pantry. Be sure to help yourself to the complimentary refreshments (available only at select centers).

Relaxation areas

Photo by Confirm Good

Take a break in one of the many relaxation areas. With plush seating and artfully decorated light fixtures, you’ll feel right at home.

Shared office spaces

digital nomad
Photo by Confirm Good

JustDesk Unlimited members can park at any of the shared office space workstations, some of which are even equipped with monitors.

digital nomad
Photo by Confirm Good

Personal corners

digital nomad
Photo by Confirm Good

All JustCo centers are equipped with comfortable corners for small group meetings, individual discussions and solo work sessions.

Photo by Confirm Good

If you want to get lost in your own thoughts, head to this introverted seating area reminiscent of a ramen joint.

Photo by Confirm Good

Ability to work in a conducive and private space and picture-worthy – what’s not to love?

Phone booths

digital nomad
Photo: JustCo

Got an important call or a Zoom meeting? Keep things confidential in one of the Phone booths.

Recreational facilities

Photo by Confirm Good

As the saying goes, all work and no play makes Jack a dull boy. Challenge your friend to a friendly game of basketball in one of the game roomsor take a nap in the nap room.

Photo: JustCo

JustCo has 17 centers in East, West and Central Singapore. However, if you are looking to work from another country, know that you can. By signing up with JustCo, you get access to their other 23+ centers across Asia Pacific. So technically you have over 40 centers to work with. Digital nomads, rejoice!

The hottest hot desk offer

digital nomad
Photo: JustCo

Digital nomads (wannabes) are in luck – get one 3 months free hot desk subscription when you register 6 months before June 30, 2022, subject to the general conditions in force. Hot desking for less than S$7 per day? Sounds like stealing to me.

Your exciting future as a digital nomad starts here.

This message was brought to you by JustCo.

For more lifestyle updates like this, subscribe to our Telegram channel at @confirmgood.

I would gladly give you up for dessert.

Growth of IPMI in Asia | ITJ Wed, 01 Jun 2022 10:09:13 +0000

IPMI markets of China, Hong Kong and Singapore

Of the three markets, including the traditional IPMI segment and the PMI plus segment, China was the best performer between 2017 and 2020. The traditional IPMI market grew by 10%, while the PMI plus segment grew by 28% and together they are worth more than $2.5 billion. In Hong Kong, the overall market rose 14%, although the traditional segment was only 3.3% compared to 35% for the PMI plus. Singapore’s traditional growing IPMI market grew by 9.2%, with PMI plus at a relatively modest 11.2%. Much of the growth in all countries was driven by premium inflation.

In terms of margin, data is less easy to find and analyze. The PMI plus could continue to grow in the short term, but the perceived lack of profitability could lead to a return to the traditional IPMI. In China, there was a range of reported margins during this period. The most profitable segments are SMEs and Individuals. Profitability in the Hong Kong market is slim and trending lower due to strong competition, downgrading and high medical costs. This is particularly evident in the PMI plus market. Profitability in Singapore varies widely from segment to segment. The most profitable segment is Individual, especially on the expensive policy side.

What are the main drivers of growth and how are they changing?

The customer’s need continues, but has changed composition. The traditional demand from Western corporate expatriates is now declining, but senior local corporate executives still demand the best level of health care benefits from their employers, to keep them in their jobs. Across the region, the quality of local care, despite new construction, remains relatively low, with few and often underfunded hospitals and clinics. The wealthiest and the HNWI want health insurance that is generous enough to cover this care deficit. However, the need tends to be more regional than international/global, reducing the price.

Also on a negative note, given the global economic conditions, the corporate segment remains very price sensitive and HR professionals are trying to buy less rich and even non-international products like the PMI plus, resulting in a premium lower per person.

As of this writing, macro forces now include China’s possible alignment with Russia over Ukraine, which could further aggravate the low level of Sino-US relations.

The localization policies prevailing in the three markets are also important. Governments are legislating for more “local” hires rather than expatriates; for example, the Singaporean government frequently tightens its foreign visa requirements.

There are, however, new trends that are leading to an increase in the demand for IPMI products. These include increased demand from more individuals, both high net worth individuals and high net worth individuals. Some of them are business assignees who are unhappy with their business downgrade. New buyers like entrepreneurs and digital nomads are highly mobile in their work habits and prioritize healthcare. They therefore now require IPMI products rather than travel products.

Other bright spots are the improving GDP outlook and continued price increases forced by medical cost inflation, which are expected to return to pre-Covid historic levels. (see graphs 2 & 3)

Outlook by market until 2025

The region as a whole is expected to continue its relatively rapid economic growth at a CAGR of around 6.91% (including inflation) outpacing global GDP growth of 5.54%. As a result, the region’s GWP IPMI will also grow rapidly from 2021 to 2025 at a CAGR of 11.18%.

The biggest growth opportunity in China is in digital health and digital health services

IPMI growth in China has returned to pre-Covid double-digit levels in 2021. In the short term, there is a drop in demand from traditional expats, but this will be offset by an increase in demand from Chinese HNWIs and the burgeoning middle classes, which have more income to spend on health care. In the longer term, demand will increase particularly in Tier Two and Tier Three cities. Additionally, the outbound market is expected to grow as Chinese companies increasingly send Chinese expatriates on overseas assignments to Europe and Africa. The most significant growth opportunity in China is in digital health and digital health services, especially the digital therapeutics market, which is currently undeveloped. There is also significant demand from brokers for digital innovations that can facilitate the process of buying IPMI products. The geopolitical relations between China and the United States (Taiwanese problem) remain an unknown. If these continue to deteriorate, the economy will be affected, as will the number of regional and western expatriates returning to the country.

Hong Kong is currently in a state of deep uncertainty, with political unrest and strict quarantine measures still in place. In the short term, we expect a drop in demand from Western expats there, but the longer term outlook looks brighter as we expect growth from the HNW segment of Hong Kong nationals and Mainland Chinese. Hong Kong will remain a key financial market for China, as there is the likely creation of the Greater Bay Area linking Hong Kong with several major cities in Guangdong province. The PMI plus segment will continue to grow, with demand driven by remaining price-conscious expats as well as more local Chinese and Hong Kong nationals switching to purely domestic plans.

cost containment will also be very important as supplier costs continue to rise and drive up IPMI premiums

Singapore’s recession in 2020 was deeper than expected. The International Monetary Fund has forecast economic growth to remain at 3.2% in 2022 and 2.7% in 2023. This has had an upside, in that the Singapore government is now trying to encourage more foreigners in the country, contrary to recent trends. Additionally, continued instability in Hong Kong and poor US-China geopolitics should give Singapore the advantage of being the best gateway to Southeast Asia for North American and European companies.

In all markets, cost containment will also be very important as supplier costs continue to rise and drive up IPMI premiums. IPMI insurers will increasingly need to keep an eye out for opportunities in the lower end of the IPMI and PMI plus spaces, as “traditional” high-end IPMI risks becoming too expensive for the market.

Adapt, change, grow – IPMI is strong

We conclude that the Asian Tiger is not dead, but it is changing dramatically and IPMI providers will need to be nimble to keep up with these market changes. China, the fastest recovering country from Covid, rebounded quickly, but will be damaged if tensions between China/US and China/Taiwan increase and/or if Covid persists. Singapore’s comeback has been slow and we expect it to continue to improve, but only slowly. Hong Kong’s recovery has been slow and will remain so. The creation of the Greater Bay Area has the potential to eventually stimulate greater demand for IPMI products.

6 creative coworking spaces around the world Tue, 31 May 2022 15:49:32 +0000

Trust these cool and creative coworking spaces around the world to provide needed inspiration and desired creativity.

Shared office spaces around the world have come a long way since they were founded as “Hackerspace” by a group of computer engineers in Berlin in 1995. Now you can find shared creative coworking spaces in many cities that are redefining the office environment.

Most coworking spaces offer digital nomads, small businesses and even employees, without having private offices, an economical and collaborative workspace. Plus, you meet like-minded people.

While incredible amenities, including a productive atmosphere and high-speed internet, are alluring, what really inspires is the sheer beauty of the particular coworking space. Whether it’s a beautifully painted plaster ceiling adorned with brass fixtures that define opulence, a naturally lit meeting room, or black metal casement glass partitions and walls that set the mood industrial – shared office spaces are carefully designed to support the thriving community of remote professionals. Here we have described some of the most beautiful and creative coworking spaces around the world.

6 creative coworking spaces around the world

Crew Collective & Cafe, Montreal

Image credit: Crew Collective & Café/Facebook

Crew Collective & Café is not just a café, located in the iconic Royal Bank building, but a stunning 12,000 square foot space, housing 100 coworking seats and meeting rooms.

While the enigmatic building was built between 1926 and 1928 for the Royal Bank of Canada by York & Sawyer, a New York architectural firm, it was redesigned by local architect Henri Cleinge. You can still see some old world elegance that has been preserved. It features a beautiful marble floor, stained and plastered ceiling which is adorned with brass fixtures and brass wickets.

Added opulent details, such as a beautiful marble countertop and the cleverly integrated brass-plated steel boxes, bring sophistication to the space.

Interestingly, each workstation comes with comfortable chairs and other prerequisites, which include access to private rooms, large conference tables, as well as a safe to store valuables.

Along with enjoying the design of this historic office space, you can sip incredible coffee from Dispatch Coffee in Montreal and Kaito Coffee Roasters in Hudson, Quebec. You can also savor a few flavors from their various dining options, from pastries to a set lunch menu.

Founded in 2012, Crew is a Montreal-based technology company and creative agency. It aims to connect freelancers and clients for business opportunities or projects. Inspired by the thriving community of freelance professionals, the company decided to open Crew Collective & Café in May 2016.

Ministry of News, Mumbai

Image Credit: Ministry of New/Facebook

This design-driven co-working space in Mumbai, India paves the way for inspiration, productivity, safety and comfort. It comes with a main workspace of 2,200 square feet, which features an eclectic mix of huge wooden tables, private desks with ergonomic desk chairs, and is adorned with plenty of plants. The natural skylight accentuates the look of the area.

The space also includes eight private bedrooms, which can easily accommodate four to ten people. In addition to being fully furnished, each room has a large window that lets in natural light.

The library has comfortable sofas, coffee tables and a large old-fashioned kitchen, creating a relaxed setting for an informal meeting or a reading session. Add to that the interesting collection of international books and magazines that find their place on the shelves here. You can also go to the balcony to get some fresh air and enjoy the beautiful view of South Mumbai.

Ministry of New was founded by Dutch co-founders Marlies Bloemendaal and Natascha Chanda, for creatives, freelancers and professionals looking to partner with an international creative agency. It was also ranked the second most beautiful coworking space in the world, by Forbes.

.andwork Shibuya, Tokyo

Image credit: andwork/Facebook

Japan’s .andwork is a classic example of an “office as a third location”, as it offers the comforts of home in an exceptional coworking space.

Located inside The Millennials Shibuya, you can enjoy hotel amenities without being a guest. For example, you can take a refreshing nap in one of the hotel beds whenever you feel the need to take a break.

.andwork is spread over two floors and has a large and bright co-working space on the third floor with a flexible layout for events and banquets. The space also includes dedicated desks, sofas, private phone booths and a terrace.

In the lobby on the 4th floor, you can see a living room, a well-equipped kitchen and several meeting rooms, which ensure a relaxed working environment and a wonderful place to network.

NeueMaison Bradbury, Los Angeles

creative coworking spaces
Image Credit: NeueHouse

Another coworking space located inside a historic masterpiece, the Bradbury Building, is NeueHouse Bradbury in Los Angeles.

Built in 1893, the building is famous for its epic, light-filled atrium and detailed ironwork and has been featured in films like blade runnerTV shows and music shows.

Spread over 25,000 square feet on the second floor, the shared office space was redesigned in 2020 by DesignAgency as a “cultural home for creators, innovators and thought leaders”.

Some of the modern features include workspaces, private studios, phone booths, lounges, conference rooms, a wellness room, and a cafe and bar.

However, the agency also retained some historic features like the exposed wooden ceiling joists, 11-foot-tall oak-framed windows, and brick chimneys, making it one of the finest and best coworking spaces in the world, for remote professionals.

Dojo Coworking Space, Bali

creative coworking spaces
Image credit: Dojo/Facebook

Dojo in Bali is one of the most amazing coworking spaces that offers a flexible and productive workspace for freelance professionals. It’s just a one-minute walk from Echo Beach and attracts remote workers from around the world.

This beautifully designed two-level building is surrounded by lush gardens, making it a peaceful atmosphere in which to work.

Inside, you’ll find plenty of air-conditioned meeting rooms as well as tight, open spaces that accommodate both individuals and teams. It also has a swimming pool in the coworking premises.

Founded by Michael Craig, Dojo Bali is a community of talented people who seek to “collaborate, inspire and motivate each other and build something dedicated to a larger purpose”.

East Room, Toronto

creative coworking spaces
Image Credit: EastRoom/Facebook

If you are looking for industrial and vintage inspiration, you should visit this amazing coworking space. It was founded in 2014 for people looking for culture, support and a strong community for their professional life.

Located in the Riverside neighborhood, East Room was a former jam factory, now featuring a contemporary mix of vintage and industrial intricacies. The 8,000-square-foot space on the third floor has black metal casement glass partitions and walls that are accented with leather chairs, sofas, and other antique furniture.

Additionally, design enthusiasts will certainly be amazed by the exposed brick walls, worn wooden floors as well as warehouse windows and wooden beams.

Even more, the kitchen and living areas are designed to evoke a cafe atmosphere.

This article first appeared on Lifestyle Asia India.