What Opportunities is the European Crisis Creating?

Europe is going through one of its most difficult periods since the previous financial crisis. While the continent is still recovering from the pandemic wounds, the Ukrainian war has dragged it deeper into the mire.

The economic situation couldn’t be worse. Inflation has reached all-time high records. Euro and Sterling hit lows not seen in decades against the dollar. The continent is experiencing severe drought and the gas reserves are not enough to cover its energy needs which is causing energy bills to skyrocket and food prices to increase even further. The war in Ukraine is entering a critical turn after Putin has annexed four Ukrainian regions. And the victory of the far-right in Italy is threatening the strength of EU sanctions against Russia. In short, Europe is facing one of its worse nightmares and toughest winters.

In the midst of all of these woes, there is an opportunity for many countries to entice European talents, employers, freelancers, investors, and whoever can work or study remotely, to come live in areas where the cost of living is much lower, the weather is warmer, and the quality of life is good (or sometimes even better!).

Places like Morocco, Türkiye, Egypt, UAE, Thailand, and Malaysia are among the most popular non-EU travel destination for Europeans thanks to their low cost of living, touristic areas, food diversity, warm climate, hospitality, and more importantly, safety.

Here are a few recommendations for European policymakers and non-EU countries to seize the opportunity this crisis is creating:

Non-EU Governments and policymakers:

To issue special 6-month multiple entry visas for European nationals who meet certain criteria. This should bolster the tourism sector of these countries now that the pandemic has just subsided.

Business Hubs:

To invite European talents to share their expertise and contribute to local talent development via knowledge transfer, speaking engagement, consultancies, and business advisory.

Hotels and Resorts:

To offer customized long-term “Work-from-Hotel” packages accommodating solo, couple, and family travelers.

Airlines:

To provide special flight packages to travel to a number of non-EU countries from major European cities.

European Policymakers:

To provide incentives and tax deductions to those willing to spend the next 6 months abroad. This would help reduce energy consumption by households even further.

Employers in Europe:

many employers are already adapted to their employees working remotely from the time of the pandemic. Employers could encourage their employees to continue working remotely for the next 6 months to reduce their office energy bills and ensure the well-being of their workforce. It might be also a chance to gauge business opportunities in other countries and expand to new markets.

European Schools:

they could allow students to study remotely or partner with international schools in non-EU countries where students can study while traveling with their parents to other countries during the winter. Switching to remote teaching would also allow schools to reduce their energy expenses during the winter. 

The opportunities are endless. Non-EU countries stand a chance to boost their tourism sector and benefit from the European influx of talent, expertise, and investments in the coming winter. European citizens will also benefit a great deal from avoiding expensive energy bills, exploring new markets, and increasing their savings.

If you’re looking to put together a customized campaign or plan a strategy to leverage any of the opportunities shared above (or if you have other ideas) and you need professional help to put it together, book a meeting with me at consultmansi.com

Mansi is a seasoned business expert with more than 16 years of experience in the sectors of startups, trade, events, hospitality. With a strong network of government officials, senior executives, investors, and entrepreneurs from more than 20 countries.