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Average Australian three times richer than American

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A new report has found the average Australian is three times richer than average American.

 
Australians are the richest with America ranked second in average wealth per adult, according to Investment bank Credit Suisse.

According to the report, Australians collected a higher median wealth at just over $273,000.

Australia was followed on the rich list by Belgium and New Zealand, with the U.S. trailing behind at number 18.

The report showed the U.S. was home to the largest number of “ultra high net worth” individuals, with more than 140,000 ultra rich people dragging the country’s average wealth stat upwards.

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How has the hospitality industry changed since the onset of the coronavirus pandemic?

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Many global issues continue to have an impact on multiple sectors of the economy—including the hospitality industry.

Since the onset of the coronavirus pandemic, how has the hospitality industry changed ?

 
Numerous international challenges including inflation, worker shortages, the Russia-Ukraine war and rising tensions between the United States and China—continue to have an impact on many sectors of the economy—including the hospitality industry.

According to the 2023 State of the Restaurant Industry report, the foodservice sector is forecast to reach $997-billion in sales in 2023—driven in part by higher menu prices.

So, how has the hospitality industry changed since the onset of the coronavirus pandemic?

Priya Krishna, a food reporter with The New York Times joins us to discuss. #PriyaKrishna #thenewyorktimes #food #hospitality #economy #veronicadudo #business

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Why are restaurants adding service charges amid rising prices?

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American diners across the nation may be bewildered by an unfamiliar charge at the bottom of the check—a“service charge,”tacked on with little explanation.

So, why are restaurants adding service charges amid rising prices?

 
You’ve probably noticed it’s a lot more expensive to go out to eat.

The post-covid world is still working try and get back to pre-pandemic economic output.

And the hospitality industry is no different.

An increasing number of restaurants have added service charges of up to 22%—or more—in recent years in to keep up with rising costs.

So, are these changes in the hospitality industry a byproduct of the coronavirus pandemic?

Priya Krishna, a food reporter with The New York Times joined us to discuss. #hospitality #restaurants #PriyaKrishna #veronicadudo #inflation #pandemic #economy #thenewyorktimes

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China and the U.S. now caught up in a deadly game

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As the U.S. and Chinese defence bosses spoke in Beijing, many in the room realised one thing – the two are far from ready to talk.

 
A thinly veiled criticism of the United States was delivered by Chinese Defence Minister General Li Shangfu.

In his first public statement to an international audience since becoming defence minister in March, Li highlighted China’s Global Security Initiative, a set of foreign policy principles and directions in line with Beijing’s style of diplomacy, which was announced in April last year by Chinese President Xi Jinping.

“It practises exceptionalism and double standards and only serves the interests and follows the rules of a small number of countries,” he told Asia’s biggest defence conference.

Among them are opposition to unilateral sanctions and economic development as a means of stemming instability and conflict.

“Its so-called rules-based international order never tells you what the rules are, and who made these rules,” Li said in a speech to the Shangri-La Dialogue in Singapore, without naming the US or its partners.

#featured #china #li shangfu #south china sea #taiwan

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