Hotel developments to lead the way for growth in African tourism

A number of the world’s largest hotel chains are betting on Africa being their next big investment opportunity. Africa’s tourism sector is already on a momentous upwards slope and this is the obvious trend that has caught the attention of some of the world’s most renowned hotel names, such as, The Hilton, Fairmont and the Jumeirah group. Starwood, Marriot and the Four Seasons have also publically stated they intend on investing heavily across North, South and Central Africa in the five-years between now and 2021 that experts predict will be one of the largest periods of hotel growth in the continent’s history.
Foreign Direct Investment (FDI) in Africa is currently rising at an astronomical rate; last year, the global growth rate of FDI was 1%, whereas in Africa they experienced a 7% growth. Paul Frimpong, Investor Analyst at international business facilitation experts Naseba, said: “The enormous potential of the African continent cannot be emphasized enough. Africa is the fastest growing region for FDIs in the world. Aggregate household consumption will reach $1.4 trillion with collective GDP hitting $2.6 trillion in 2020 alone. These facts show that with the understanding of the growth momentum, combined with the right strategies, presents handsome rewards for current and prospective investors in the region.”

Not only does the hotel boom in Africa provide more opportunity for the tourism industry but it also presents an abundance of opportunity for the continents architects, interior designers, real estate developers, buyers and engineers working on not only hospitality, but retail, commercial and residential developments.

 

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UK Approves World’s Biggest Offshore Wind Farm

The UK government has approved the construction of the world’s biggest offshore wind farm, in a $7.8 billion project. Danish utility company ‘Dong Energy’ is going to be the group responsible for carrying out the project, the location will be approximately 89 kilometers off the coast, in the North-West of England.

“Britain is a global leader in offshore wind, and we’re determined to be one of the leading destinations for investment in renewable energy, which means jobs and economic growth right across the country,” Business and Energy Secretary Greg Clark.

It’s anticipated that the construction of the farm will generate roughly 2000 jobs and about 600 operation and maintenance posts, proving positive to the British economically as well as environmentally.

300 wind turbines are going to span an area of 480 sq km, when fully operational the turbines are going to provide 1,800MW of low-CO2 electricity to 1.8m UK homes. Greg Clark is keen for Britain’s rapid developments of off-shore wind farms to continue, in order for Britain to be an example to the rest of world in showing it’s possible to be economically sound and environmentally clean.

3 MAPS TO MAKE SENSE OF INTERNATIONAL SHIPPING

We often see the ‘Made in China’ label, but rarely understand what that means.

We sat down and simplified International Shipping. Here are the only 3 photos you need to have a basic understanding of how it works.

1. Manufacturing

Manufacturers produce massive quantities of items to meet domestic and international demand. Once finished, the items are packaged and loaded into containers for shipping.

Courtesy of: Dutakharisma.com

2. Shipping

Massive cargo ships are loaded by machine with standard-sized containers, before leaving port for their next destination.

Courtesy of: Sciencemag.org

3. Consuming

Once the items have arrived, they are unloaded and distributed to businesses and eventually sold-on to consumers.

Courtesy of: Bulgariamall.bg

Mega Project: Kingdom Tower

Currently under construction in Jeddah, Saudi Arabia is the soon to be Kingdom Tower, which once construction is complete will be, by far the tallest building in the world at over 1 Kilometer tall. With construction having started in 2013 and a scheduled 2019 completion date

The tower will feature a flagship Four Seasons Hotel and serviced apartments, A class office space as well as luxury condominiums and the world’s highest observatory. There will be an outdoor platform on the 157^th floor for private use of the penthouse residents. The building will also contain a number of swimming pools throughout for use by the hotel and condos.

Putting this into perspective the current tallest building in the world is the Burj al-Kalifa in Dubai, United Arab Emirates which stands at 830 meters.  The illustration below compares the prospective Kingdom Tower with existing buildings as well as those currently under construction. This clearly shows the extreme of its height and makes it hard to believe that the owners originally wanted the tower to be 1 Mile high!

The Kingdom Tower will cost a proposed $US1.25 Billion and will involve 500,000 cubic meters of concrete and 80,000 tons of steel, giving it the strength it needs to withstand winds and any potential natural disasters.

As a world leader in the Metals producing and supply industry Shanghai Metal Corporation stocks metals in a range of forms and can customize specifications to suite your requirements. To contact us please visit our website Here. For more updates on this and other exciting developments follow us on Facebook, Twitter & Linkedin. Or by using your smart device, scan the QR code below!

Dominick F.// Editor SMC

Sources: Wikipedia; SkyScrapers Center;