Last week we talked about the how to invest in the apps that millennials use everyday. One of these, Instagram – the photo-sharing social media network owned by Facebook – is arguably the most popular.
500 million* people access the app daily, the majority of whom are millennials. Indeed, nearly two out of every three adults aged 18-29 are regular users*. From selfies to fashion shots, food to pets, millennials are constantly sharing photos and encouraging people to ‘like’ these glimpses into their lives.
But not everyone ‘likes’ that. In a recent Telegraph article the author claimed that her recent holiday to Santorini was ruined because of narcissistic millennials wanting that perfect Instagram shot.
I feel her pain, I really do. Nothing frustrates me more than tourists in London stopping in the middle of the street for a photo. But has it ever been any different at a tourist hotspot or at a picturesque location? And do other people taking photos really ruin your holiday?
Here are the top ten Instagrammable holiday destinations. You can choose whether you want to visit them or avoid them and maybe invest instead. After all, where there are tourists, goods and services are consumed, and money can be made.
“Take only memories, leave only footprints.”
Top ten ‘Instagrammable’ holiday destinations
1. Tulum, Mexico
Mexico has never been high on my personal holiday wish list, but it seems others don’t agree: it is home to number one and number four on the list – the beautiful coast line and Mayan ruins of Tulum, and Mexico City respectively. Mexican investments make up over 20%** of ASI Latin American Equity and we recently talked to manager Devan Kaloo about Trump’s ambitions for a Mexican wall on our investing on the go podcast.
2. Amsterdam, The Netherlands
With canals, bridges, bicycles and colourful town houses, Amsterdam is next on the list. And with 11.9%** invested in The Netherlands, it’s the third largest country allocation in Janus Henderson European Focus fund run by John Bennett. Conversely, in a recent podcast, we asked Chris Garsten manager of Waverton European Capital Growth fund why his fund also has zero holdings in Dutch companies despite running a Netherlands country fund earlier in his career.
3. The Greek Islands
With over 200 inhabited islands and 16,000km of coastline, beaches and caves to explore its no wonder Greece is a popular destination. Of course, some places are more popular than others: Santorini and its white-washed houses against the blue skies and sea, for example. But, after going bankrupt in 2010, the Greek economy has held little in the way of attractive investments in recent years and selectivity has been key. Elite Radar Schroder Global Recovery has a third of the portfolio invested in Europe ex UK with 2%*** in Greece.
5. The Maldives
Did you know the Republic of Maldives is the smallest Asian country by both land area and population? And it’s the lowest lying country in the world, meaning climate change and rising sea levels are greatly impacting this popular destination. If global carbon emissions continue unchecked, much of the 1,200 island archipelago could be underwater by the end of this century which is why the country is aiming to be carbon neutral by 2020.
There are just eight listed companies on the Maldives stock exchange, so if you want to invest in this destination you may be better served investing in its future by cutting your investment carbon footprint and reducing the use of plastic.
6. The Algarve, Portugal
The Algarve, Portugal’s southernmost region, is known for its Atlantic beaches and resorts – are you sensing a theme yet? In Portugal, tourism and travel-related revenues account for about 10% of the country’s gross domestic product (GDP). Portugal accounts for 3%*** of the Elite Rated JOHCM Global Opportunities fund.
7. Marrakech, Morocco
Whether you’re looking for a last minute city break, a girls holiday, or a romantic trip away, Marrakech is the perfect destination. With affordable flights and deals from Ryanair, a top ten holding in Man GLG UK Income**, it’s no wonder millennials are flocking to Morocco for a weekend away.
8. Positano, Italy
Another popular destination for a romantic getaway, Positano is a beautiful little beach town in Italy, famous for its colourful buildings, excellent restaurants, and ideal location on the Amalfi Coast. Italy makes up 9%*** of the holdings in Artemis Global Income fund and the country is no stranger to tourism: the industry is set to reach over 14% of Italian GDP by 2028^.
9. Cappadocia, Turkey
If you’ve ever wanted to go hot air ballooning then Cappadocia is the place for you. But those with an aversion to heights may prefer to stay on the ground and consider the delights (couldn’t resist, sorry) of the M&G Emerging Markets Bond fund, which currently holds 2%** in Turkish government bonds.
10. Bali, Indonesia
Last, but certainty by no means least, is beautiful Bali – known for its forested volcanic mountains, iconic rice paddies, beaches and coral reefs. Indonesia accounts for 2.5%*** of Elite Rated Fidelity Asia Pacific Opportunities portfolio and, as the world’s largest island country composed of more than 17,000 islands, it’s also the 4th most populous country. Bali is also home to a number of yoga, meditation and wellness retreats making it popular with a number of millennials.
*Source: Sprout Social, 13 August 2019
**Source: Fund factsheet, 30 June 2019
***Source: FE Analytics, 12 Aug 2019
^Source: Statista, Italy: travel and tourism’s total contribution to GDP 2012-2028