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Locals and tourists take part in an event organized on Patong Beach to mark the opening of Phuket to international tourists.

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The darkest days for the tourism industry could soon be over, said the chairman of a multinational hotel company.

Tourist hotspots like Phuket are now open to international tourists who don’t need to be quarantined, and others like Koh Samui are following suit, said William Heinecke, CEO of Minor International, which runs a global hotel and restaurant chain.

The Thai government recently announced a “sandbox program” for Phuket, stating that the popular vacation island will be open to vaccinated Thai and foreign travelers from July 1st without quarantine. Koh Samui, Thailand’s second largest island, will also be open to tourists from July 15th under the same rules.

Tourists can move around freely on both islands and after a 14-day stay in Phuket or Samui, set out for other cities in Thailand.

“I think we’re already seeing the results of this (sandpit) with people coming in … Phuket has effectively done it since July 1st,” with an increasing number of tourists every day, he told CNBC’s Street Signs last week .

Strong recovery in Europe, China

Minor International, which operates more than 530 hotels, resorts and serviced suites worldwide, is also experiencing a strong recovery in Europe, the Middle East and China, Heinecke said, pointing out that some regions have returned to pre-Covid levels or higher.

Hotels are also seeing strong demand for room types with higher priced room types – such as villas, suites, and deluxe rooms – that are occupied before the regular rooms.

“In Europe, where we have just reopened, we are seeing very strong demand. We have seen a very steady recovery in the Middle East since January … worlds that are at pre-Covid levels or higher. China is a different one, “he added.

One of the trends that we’re sure to see is a much stronger focus on wellness and immunity and people who care about their health.

Wilhelm Heinecke

CEO and Chairman, Minor International

Heinecke also pointed to the changed consumer behavior in tourism during the pandemic, adding that his company is taking advantage of this by offering more programs that focus on wellness.

“One of the trends that we’re sure to see is a much stronger focus on wellness and immunity and people who care about their health,” he added.

Risks to the outlook

While tourism demand has rebounded and the recovery has been strong in parts of the world, the rate of vaccine introductions in Asia was a cause for concern.

“We are still seeing slowness in many markets due to problems in (vaccine) production,” said Heinecke, citing slow progress in Malaysia and the Philippines.

That’s “in part because of AstraZeneca manufacturing in Thailand,” he added.

Thailand started producing Covid-19 vaccines for British-Swedish drug maker AstraZeneca in June. Its local partner Siam Bioscience, owned by King Maha Vajiralongkorn, will produce 180 million cans this year – more than a third for Thailand and two thirds for Taiwan and Southeast Asian countries such as Malaysia and the Philippines.

However, last week there were reports that Thailand might cut exports of its locally made AstraZeneca vaccines to combat its own crisis.

According to Our World in Data, Asia is way behind North America, Europe and even South America in vaccine doses given per 100 people. North America gives about 78 doses per 100 people, while Asia lags behind at 49 doses, according to July 17 data.

Slow vaccinations lead to rising cases, even if the highly communicable Delta variant, first discovered in India, has become the dominant strain in the United States and is spreading to at least 104 countries.

From Singapore to Thailand and Australia, there have been restrictions and lockdowns, and travel corridors between cities and countries have been canceled, dampening the tourism industry’s comeback in 2021.

The availability of vaccines is critical, said Heinecke. “I believe in more vaccinations, less lockdown,” he said.

Collin Morikawa created major history at Royal St George’s as he celebrated his Open debut with a magnificent two-shot victory over Jordan Spieth.

Morikawa, winner of last year’s PGA Championship in only his second major appearance, held off riveting challenges from Spieth and Jon Rahm to become the first player in history to win two different majors at the first attempt.

The ultra-composed 24-year-old fired a bogey-free 66 to claim victory on 15 under par, with Spieth’s 66 earning him a runner-up place while Louis Oosthuizen suffered more major heartbreak as he stumbled to a closing 71 and had to settle for a podium finish on 11 under with Rahm.

Seeking to emulate the debut victory of 500/1 outsider Ben Curtis on the Sandwich links 18 years ago, Morikawa began the final round one shot behind Oosthuizen and soon found himself tied at the top when the South African pulled his approach to the fourth and was unable to save par.

Morikawa is the first player to win two majors at the first attempt.

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Spieth dropped shots at the fourth and sixth only to launch himself back into the running with a brilliant eagle at the seventh, where there was a two-shot swing in the final pairing when Oosthuizen thinned his bunker splash-out across the green and took six, while Morikawa broke his run of pars with his first birdie of the day.

Knowing he now had a two-stroke advantage over his playing partner, Morikawa resisted the temptation to attempt to protect his lead, and extended it with further birdies at eight and nine to go four clear, although Spieth reduced the deficit to three as he picked up shots at the ninth and 10th, where Morikawa made a clutch par save.

Oosthuizen revived his hopes with a stunning tee shot to the par-three 11th which rattled the pin and set up his first birdie, but Spieth was the man piling the pressure on the leader and the 2017 champion closed the gap to a single shot when he rolled in consecutive six-footers for birdies on 13 and 14.

But Morikawa responded with a nerveless 20-foot putt for a priceless four at the long 14th just as Rahm was in the midst of a spectacular late charge, the Spaniard suddenly reeling off four straight birdies from the 13th and coming within a matter of inches from a hole-in-one at the short 16th.

Rahm’s rally would fall short as the pre-tournament favourite closed with pars at 17 and 18 to complete a 66 and claim the clubhouse lead on 11 under, and Spieth missed a great chance to again reduce Morikawa’s lead as he knocked his approach to 12 feet at the penultimate hole only to read too much break into the birdie putt.

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Morikawa’s resolve and composure remained intact as he negotiated 15 and 16 in pars, and Spieth could not make his compatriot’s victory march a little less comfortable as he parred the 18th for a 66 – 13 under par for the week and his best result in a major championship since winning at Royal Birkdale four years ago.

Another cast-iron par at the 17th gave Morikawa the relative luxury of a two-shot advantage to take down the 72nd hole, and after another pure strike found the middle of the fairway, he drilled his second to 25 feet before soaking up the applause from the bumper galleries with victory a mere formality.

Two putts later it was official, and an appropriate result in a year of historic major outcomes, while Oosthuizen was left to reflect on yet another case of what might have been as he parred the last four holes to earn a share of third with Rahm, the man who pipped him to the US Open title last month.

Brooks Koepka had earlier threatened the course record when he raced to five under for the day with a third of his final round remaining, but he was disappointed to close with six straight pars for a 65 which left him seven shots behind the champion.

World No 1 Dustin Johnson returned a 67 to finish on seven under along with rising Scot Bob MacIntyre, who secured back-to-back top-10 finishes in both his Open appearances with a 67 that could have been a couple lower had he not pulled his tee shot at the 14th out of bounds.

After two years in possession of the Claret Jug, Royal Portrush champion Shane Lowry’s stout defence of the title ended with a 69 and a creditable tie for 12th place on six under par.

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When it comes to wealth creation, many black Americans face an uphill battle.

According to a report by McKinsey & Company, the average annual wage for black workers is about 30% lower than that of white workers. The report also found that 3.5 million of the country’s black households have negative net worth due to debt.

“Often the problem with saving and building wealth is people not making enough money,” said report co-author Shelley Stewart III, who leads McKinsey’s research on black economic mobility in the United States

“We have to approach this as a broader society, typically with colored communities.”

In addition, black households tend to start with lower family wealth. McKinsey estimated a $ 330 billion gap in the annual flow of new wealth between black and white families, 60% of which comes from inheritance.

Because of this lack of generational wealth, black families tend not to invest, said certified financial planner Kamila Elliott, president of Grid 202 Partners, a Washington, DC-based financial advisory firm

The price for this loophole can be enormous. In 2064, the average white family will likely own $ 2,782,727 while the black family’s net worth will be $ 789,164, according to a report by Elliott and Abacus Wealth Partners CEO Brent Kessel. That’s a 70% difference.

While societal changes are needed to fill the racial wealth gap, there are also steps black Americans can take now to start wealth creation, experts say.

Talk about it

Start saving

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The most important thing is to start saving, even if it’s only a small amount each month.

Almost three-quarters, or 73%, of black adults don’t have enough emergency savings to cover expenses for three months, according to an April 2020 survey by the Pew Research Center.

Once you’ve built this emergency fund, you can put money into assets that could bring you a higher return, such as the stock market.

“As you save more, you have more flexibility to take more risks and do more things that could bode well for your future down the line,” said Saporu. Saporu, the son of Nigerian immigrants, was a committed saver who enabled him to start his company a year after graduating from business school.

Buy a house

As you accumulate more savings and are thinking about how to invest, consider buying a home. Not only is it a place to live, it is also an investment.

There is also an option to continue investing in real estate, such as buying a house or apartment to rent.

“Housing is a proven creation of a nest egg of wealth,” said Stewart of McKinsey.

Invest in the market

Start investing as early as you can so you can start making money with your earnings. Use your company’s retirement plan like a 401 (k), especially if your employer makes a contribution, advised Elliott of Grid 202 Partners.

Don’t be afraid of taking risks, for example by investing more in stocks than in fixed income investments. In fact, many black Americans, especially older ones, are too conservative, said CFP Malik Lee, founder and CEO of Atlanta-based wealth management company Felton & Peel.

“You need the power of the market behind you,” he said.

While there may be a distrust of financial professionals, he does advise finding one that you are comfortable with. There are also many – like Lee, Elliott, and Saporu – who don’t have a minimum account requirement.

Found a company

Wealth can also be generated through corporate ownership. Before quitting your job to start a full-time business, however, make sure you have at least six to ten months of savings in expenses and have a five-year roadmap, Saporu advised.

Going through alone allowed him to make more money instead of being undervalued in a bureaucratic system, he said.

“You have to take a risk to get oversized rewards,” said Saporu. “When the People [financially] are comfortable and find the right grip, they can take these risks. “

Think about future generations

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U.S. Vice President Kamala Harris will give a round table speech on voting rights in Washington on July 14, 2021.

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Vice President Kamala Harris is visiting Walter Reed National Military Medical Center on Sunday for a routine medical appointment, a White House official told NBC News.

There is currently no evidence that the appointment is related to the vice president’s meeting last week with Texas Democratic lawmakers, some of which have since tested positive for Covid-19.

Symone Sanders, senior advisor and main spokesperson for Harris, said Saturday that the vice president and her staff were not at risk of exposure to the virus at the meeting.

Based on the schedule of positive Covid-19 tests, it was determined that Harris and her staff “were not at risk of exposure because they were not in close contact with those who tested positive and therefore do not need to be tested or quarantined. Said Sanders. “The Vice President and her staff are fully vaccinated.”

Known for quick videos of lip-syncing teens and cute pet tricks, TikTok is now the first stop for finding Gen Z employees.

Chipotle, Target, WWE, and Shopify are among the companies that are partnering with TikTok Resumes, a pilot program that allows applicants to submit video résumés on the social platform. The recruiting offer is another way for companies to connect with potential employees while the battle for talent continues.

Restaurants, bars and fast food chains are finding it particularly difficult to hire staff to replace those laid off at the start of the pandemic. Many of these workers are either uncomfortable returning to work and are still on the sidelines or have left the industry entirely.

According to Marissa Andrada, Chipotle’s chief people officer, the restaurant chain already had 1.6 million followers on TikTok when she considered the idea of ​​partnering with the video resume platform.

“We have a crazy following and it’s always great to see what fan videos are about,” said Andrada.

With the majority of the employees at Chipotle restaurants being Gen Z and Millennials, “why not rely on their energies?” said Andrada. “TikTok Resumes is a way to interact with them in a way that they already like to connect with us.”

With the advent of career and work-related content on social media platforms, showing off people with their creativity is an effective way for the company to find the right talent. “You can see their enthusiasm and passion for our food and get a feel for what this person would be like as a team member, which is different than just taking a résumé or an application,” she said.

Chipotle restaurant employees process orders for customers in Miami, Florida.

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Restaurants, bars, and fast food chains are doing everything they can to bring workers back to their factories as people are now more comfortable going out and eating inside.

Denny has just completed the America’s Diner Hiring Tour, which will recruit 20,000 restaurant-level employees in both its company-owned and franchise restaurants across the country. A 53-foot food truck drove on historic Route 66 for a week, making several stops to help potential workers fill out applications for a free pancake breakfast. CEO John Miller told CNBC earlier this month that finding enough workers will be one of the biggest challenges as the country emerges from the pandemic lockdown.

You see their enthusiasm and passion for our food and get a feel for what this person would be like as a team member.

Marissa Andrada, Chief People Officer, Chipotle

The numbers underline his point of view. Although restaurants and bars created more than half a million jobs from March to June, the industry’s unemployment rate is still high, hitting 10% in June, according to the Department of Labor.

Even wage increases are not always the solution. The June National Federation of Independent Business job report shows that 46% of small business owners report vacancies they have been unable to fill despite increases in pay.

Coast to coast interviews

In addition to the TikTok video résumés, Chipotle casts a wide network for new employees. On July 15, it hosted a Coast-to-Coast Careers Day at all of its restaurants. The goal, says Andrada, is to hire 15,000 people to fill the existing locations as well as the additional 200 new locations planned by the end of 2021.

Higher wages are another lever that restaurants, bars and fast food chains use to attract workers. In recent months, some have raised hourly wages, announced plans to cover tuition fees, and given workers more time off – all in an effort to attract and retain workers.

McDonald’s recently announced that it would increase hourly wages, give workers paid time off, and cover study costs for employees. In late May, Chipotle announced it would raise the average hourly wage to $ 15 and also introduced employee referral awards of $ 200 for crew members and $ 750 for apprentices and directors.

Darden Restaurants, the parent company of Olive Garden, announced in the spring that it would be spending around $ 17 million to give hourly restaurant workers a one-time bonus and raise wages. The hourly workers make at least $ 10 an hour, including tip. Hourly wages will rise to $ 11 in January and to $ 12 an hour in January 2023.