Horizons newsletter – week 38 // 2018

Horizons is a bi-monthly Dasym Research initiative to show you how the Dasym themes have been in the news. We publish the Horizons on our website and as an email newsletter. If you wish to receive the email, please contact Investor Relations.
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In front of the scenes

Pop stars, movie actors and professional sports players have always acted as a role model for their fans. In the internet era, the number of potential role models has risen further with the emergence of influencers. In addition, the internet also made it possible for people behind the scenes to move to the front and share their creative ideas and talents with the rest of the world. Creative brains like Shonda Rhimes, now working for Netflix, uses her Instagram stories to personally explain her creative choices. In journalism, creators such as Ben Thompson and Jessica Lessin launched their own news outlets with a recognizable and personal tone of voice. Chef Nusret Gökçe (Salt Bae) owes part of the success of his Nusr-Et restaurants to a video of his techniques that went viral on Twitter (see below). Moving in front of the scenes gives these talents – who used to fulfill their roles in the background – the possibility to become role models and exploit their talent by sharing their personal ideas with their fans.

The rise of next-gen hubs

International financial hubs tend to cluster around centers of economic and political power. In the 15th century, Venice became a hub when Italian city-states flourished. Amsterdam was one in the 17th century during the Dutch Golden Age; and London when England emerged as an imperial superpower after the Industrial Revolution in the 19th century. Since the 20th century, U.S-based Wall Street is the dominant hub and the U.S Dollar is the global reserve currency. However, as new economies are emerging and with the West in relative decline, the composition and structure of the international financial system will likely change again. China’s economy, for example, accounts for roughly one-sixth of global GDP, but its currency is only used in 1.5% of all international transactions; something that the stock connect schemes in Shanghai and Shenzen want to change. Likewise, the People’s Bank of China is trying to boost cross-border Renminbi trade along its Belt and Road Initiative. With the shift to a multipolar world order, more financial hubs will emerge that reflect this new balance of power.

Let’s go on tour

By now, most people have returned from their vacation, often having used technology to plan the perfect trip. Technology had (and still has) a profound impact on the travel industry. Online travel agencies, such as booking.com, replaced travel agents; Airbnb lets private accommodation rentals compete with hotels; and user review websites, e.g. TripAdvisor, make traveler’s opinions as accessible as traditional travel guidebooks. Now, another travel market is feeling the impact of digital: tours and activities. This highly fragmented market is composed primarily of small suppliers who have been slow to embrace change. However, they are realizing the importance of having their products available where travelers increasingly search for and purchase travel services. These places include existing platforms, such as TripAdvisor, Expedia and Airbnb, but also tour-booking startups such as GetYourGuide, Klook and Evaneos, which recently raised large sums to expand their platforms. By streamlining processes, these platforms enable further growth of the travel activities market. Travelers will be the major beneficiaries, as they will have an array of choices for effortlessly searching and booking tours at their disposal.