13/03/2017 World Business Report


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13/03/2017

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The Dutch prepare to make their choice in a critical general

:00:00.:00:19.

election - with the economy up and crime down why

:00:20.:00:22.

Grab your mountain bike or your climbing shoes,

:00:23.:00:31.

as we take you to one of the fastest growing trends in tourism.

:00:32.:00:34.

Welcome to World Business Report. I'm Sally Bundock.

:00:35.:00:47.

Also in the programme change at the top of Europe's biggest bank

:00:48.:00:50.

- HSBC - we'll tell you all you need to know.

:00:51.:01:02.

We will be talking about the elections in the Netherlands as

:01:03.:01:05.

Can a form of well.

:01:06.:01:26.

Can a form of travel in which experience matters more than

:01:27.:01:32.

destination keep tourism companies are float? We have been to the

:01:33.:01:43.

Berlin tourism so. To have much fun as possible on a tight budget - the

:01:44.:01:50.

adventure tourism business is worth $300 million a year and it is

:01:51.:01:55.

growing fast. The age has started to come down a little bit so maybe it

:01:56.:02:00.

is more in the mid to late 40s but we are also seeing a significant

:02:01.:02:04.

growth in multigenerational travel and that means being grandparents

:02:05.:02:10.

who might be in the 60s and 70s who are still active taking their kids

:02:11.:02:17.

and their kids kids doing all sort of adventure travels. The daughter

:02:18.:02:23.

might go sea kayaking and so forth. There are no longer barriers about

:02:24.:02:29.

where you can go. It is not just reaches any more. If you prefer your

:02:30.:02:35.

holidays to take place on firm land, you may not see an appeal but they

:02:36.:02:41.

are becoming more and more popular and the problem for tourism

:02:42.:02:46.

companies is you can just as easily do this in Berlin. People and

:02:47.:02:54.

families will do hiking in the mountains but also around Berlin,

:02:55.:03:03.

beautiful forests and lakes. We have an expedition people but it is more

:03:04.:03:08.

outdoor and families stop young people will do the rock climbing is

:03:09.:03:16.

in Berlin. Whether customers venture far all near, companies now think

:03:17.:03:22.

there will never be a substitute for the real thing. What do you think

:03:23.:03:32.

about that idea? Send me your thoughts. We can chat about that on

:03:33.:03:40.

Twitter. Let's discuss HSBC, Mark Tucker has been appointed as its

:03:41.:03:48.

group chairman. Shares are on the move in Hong Kong. He is due to take

:03:49.:04:00.

over on the first of October, succeeding the man in role since

:04:01.:04:10.

2010. Mr Tucker has spent many years overseeing the expansion in Asia and

:04:11.:04:15.

one of the first important jobs is to find a replacement for Stuart

:04:16.:04:20.

Gulliver who plans to step down next year. HSBC is Europe's biggest bank

:04:21.:04:28.

but the bulk of its profits are generated here in Asia and the bank

:04:29.:04:31.

has been through an overall two diverse and declining profits and

:04:32.:04:37.

put it behind a series of scandals. More than 40,000 jobs have gone and

:04:38.:04:46.

we have seen profits tumbling more than 60% last year. It has moved

:04:47.:04:55.

into more risky areas of banking. This year it reached a settlement

:04:56.:04:59.

with the US government related to dubious mortgage lending and

:05:00.:05:04.

foreclosure during the financial crisis. In 2015 they were

:05:05.:05:11.

unacceptable practices which helped clients avoid tax. At $1.9 billion

:05:12.:05:19.

in a settlement over money laundering. Investors are however

:05:20.:05:23.

like the news of Mr Tucker's appointment. She is going higher. --

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shares. Looking at the top story. Decision day is getting closer for

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the Dutch. Tonight they get a decisive last look at the cannabis

:05:42.:05:44.

before making a decision on Wednesday. The leading candidate in

:05:45.:05:50.

a final television debate. It is the first of three big elections in

:05:51.:05:53.

Europe casting uncertainty over the continent. The next one to follow is

:05:54.:06:01.

France and then Germany in autumn. Financial markets are following them

:06:02.:06:12.

very closely. The incumbent, Mark Rutte, faces a challenge from Geert

:06:13.:06:18.

Wilders but there is great fracture and it gives uncertainty to the

:06:19.:06:26.

outcome. For the Dutch, they are one of the wealthiest nations in the

:06:27.:06:36.

world. Economic growth forecast to be steady at 2% with wages and

:06:37.:06:41.

growing which is again unusual. Unemployment is falling. Foreign

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ownership has become a hot topic with the Labour Party, part of the

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current coalition, proposing the government should be able to block

:06:53.:06:56.

takeovers not in the national interest. Am joined by the senior

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analyst at control to give us his reaction. What is your take on what

:07:04.:07:13.

the key issues are for voters and how cannabis have been playing that?

:07:14.:07:18.

The number one issue is clearly immigration and integration

:07:19.:07:27.

particularly of Muslims. Geert Wilders Has sought to make that the

:07:28.:07:35.

only issue. It is almost like the right to elections. One in which the

:07:36.:07:42.

world is looking at and looking at Geert Wilders. The other were

:07:43.:07:49.

education, job and economy is still the key for the Dutch. We touched

:07:50.:07:57.

the top of the iceberg in the introduction but the economy sounds

:07:58.:08:02.

fairly healthy, wages going up, incomes high. Voters would like to

:08:03.:08:14.

see more acceleration in wages after a fairly prolonged period but they

:08:15.:08:19.

are doing better than most other European economies will not it is a

:08:20.:08:26.

matter of cementing... We are still almost in the recoveries since the

:08:27.:08:32.

global financial crisis in terms of macro economic data in Europe so

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they would like that consolidated, greater job security, you mentioned

:08:37.:08:44.

the campaign to limit the rights of takeovers as well. What will happen

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on Wednesday... I know I am asking you a difficult question LAUGHTER

:08:53.:08:59.

most likely the party of the incumbent Prime Minister Mark Rutte

:09:00.:09:05.

will be beckoned at with the party of Geert Wilders but neither will

:09:06.:09:14.

get more than the required majority percentage so it will be a long and

:09:15.:09:23.

arduous the -- negotiation process. It will be a broad coalition with

:09:24.:09:30.

and possibly the Greens involved. What about the risk for the eurozone

:09:31.:09:40.

and the EU? The idea that Brexit and Trump equals Geert Wilders is

:09:41.:09:51.

far-fetched. I think it will remain European. The Labour Party is

:09:52.:09:57.

struggling a bit but they may hang on. Essentially it is a business as

:09:58.:10:04.

usual. Thank you for your time this morning and we will keep you across

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every twist and turn. Market very quickly... A big week for financial

:10:09.:10:16.

markets because we have the elections on Wednesday and the US

:10:17.:10:22.

Federal Reserve will make its decision on borrowing and most

:10:23.:10:26.

believe Janet Yellen will decide to raise the cost of lending in the US

:10:27.:10:31.

for the second time. That is a massive event. The UK and Japanese

:10:32.:10:38.

central banks meeting also. Stay with us we have the news review very

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soon. Police are launching

:10:41.:10:49.

an unprecedented appeal at the Supreme Court

:10:50.:10:51.

against a ruling that it failed

:10:52.:10:54.