Welcome to Mobility Minute, a newsletter published every Friday byWorldwide ERC®for the benefit of members and the global mobility and relocation industry. Here's a quick glimpse of what you'll find in this week’s issue:
European Home Prices Rising Faster than Rents
Worldwide ERC Helps Push Renewed Efforts to Protect Transferee Personal Data
How to Move Cars, Boats, and RVs
Worldwide ERC Congratulates New Board Members and Foundation Trustees
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European Home Prices Rising Faster than Rents
A study of long-term real estate trends in the European Union found that house prices have increased much more than the cost of renting a home over the past decade. According to the European Commission, both rents and home prices in the EU have been rising gradually since 2010. The cost of purchasing a home has increased by 45%, while rent increases have been about 17%.
Why is this important?
Could the apparently unshakable real-estate boom in Europe be coming to an end? A recession may be on the horizon, according to some economists, as the country confronts higher interest rates and the worst cost-of-living problem in a generation.
Worldwide ERC® Helps Push Renewed Efforts to Protect Transferee Personal Data
Worldwide ERC® has long advocated for policies to protect the personal data of transferees and military personnel from fraud. Senator Steve Daines (R-MT) has now filed an amendment to the National Defense Authorization Act (NDAA) to protect the personally identified information (PII) of transferees and military personal who are shipping their household goods to the U.S. To assist in the effort, Worldwide ERC is a signatory of a coalition letter of support and is reaching out to key congressional offices.
Why is this important?
U.S. Customs and Border Patrol (CBP) presently sells the manifest data on vessel shipments into the U.S. to data brokerage firms that post the information online to paid subscribers. While it is not the intent of the CBP to release the sensitive data of individuals, the manifests currently provided to data brokers includes this information, and the CBP does not believe it has the authority under statute to remove the PII. The data brokers post the manifest information online to provide an analysis and trends on shipments not intending to expose the PII of transferees. The amendment, if enacted, would correct this problem.
If a relocating employee is moving across the country or around the world, transferring cars, boats, and RVs to their new home can be complicated, time-consuming, and expensive and requires careful budgeting and planning.
Why is this important?
It is important that organizations relocating employees both domestically and internationally understand the complexities of moving an entire household, including the basics of moving vehicles, boats, and large recreational vehicles.
Worldwide ERC® Congratulates New Board Members and Foundation Trustees
Worldwide ERC® recently announced that four members will join its Board of Directors for three-year terms on 1 January 2023.
The new members are: Tanya Mariottini, director of global mobility at Twilio Inc.; David Pascoe, executive senior vice president of EMEA & APAC global talent mobility at Cartus; Kelly West, founder and CEO of The MilesWest Group; and Deb Convery, director of global mobility and immigration at Stripe.
The skies could soon be filled with electric, autonomous air taxis, but they'll need a place to take off, land, and recharge—hence the arrival of the "vertiport." These transportation hubs could become critical parts of urban or regional mobility ecosystems, linking fast and convenient air travel to other forms of transit, like airports, buses, trains, and ride-hailing networks. — Axios
A study this year by professors at Columbia University and New York University estimated that lower tenant demand because of remote work may cut 28%, or $456 billion, off the value of offices across the U.S. About 10% of that would be in New York City alone. — Bloomberg
With COVID-19 measures easing in many countries in early 2022, the medium-term expectation was for economies to be reinvigorated by rising consumer confidence and a return to normalcy for supply chains. However, Russia's invasion of Ukraine, China's zero-COVID policy, and the energy and food crises, saw optimism for the global economy dwindle in the latter half of the year. — World Economic Forum
Many Americans, facing record-high inflation and interest rates, can’t afford to travel right now. But for the lucky ones who can, this might be the perfect time to book a trip to Europe. The British pound fell to an all-time low against the U.S. dollar, and the euro, which slid below parity with the dollar this summer, also remains weak against the greenback.
The strong U.S. dollar makes European travel very attractive
As a result, U.S. travelers who are able to jump on a good deal can take advantage of this moment to jet across the Atlantic and stretch their dollars further, saving money on food, souvenirs, and other goods purchased in the local currency.
Worldwide ERC®, P.O. Box 41990, Arlington, VA 22204, United States, 1-703-842-3400
