Thursday, August 18, 2022

ACS urges diversity boost to address the Aussie labour shortage problem

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Australian technology employment numbers continue to boom, with over 1.2 million people expected to be working in the sector by 2027, according to the new ACS Australia’s Digital Pulse 2022 report released in Brisbane. Digital Pulse 2022 reveals technology jobs are paying better than equivalent industries and proposes ways the nation can address the chronic IT worker shortage, including boosting the sector’s diversity and building the skills pipeline.

Illicit tobacco accounts for 19.3% of tobacco consumption in Australia

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The Australian government is losing billions in excise tax as illicit tobacco consumption hits 2.2 million kilograms, subsidising dangerous criminal enterprises, KPMG UK’s latest ‘Illicit Tobacco in Australia’ research report has revealed. The report found illicit tobacco now accounts for 19.3% of all tobacco consumed in Australia. If the 2,242 tonnes of illicit tobacco had been consumed legally, it would have generated an estimated additional $3.4 billion in tax revenue.

NielsenIQ reports on the impact of inflation on small and medium brands

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NielsenIQ previews findings from the Brand Balancing Act, a study providing a perspective on how consumers perceive small and medium-sized brands in the new inflationary marketplace.

Global finance executives predict imminent downturn, says AlixPartners

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AlixPartners announced the findings of its 17th Annual Turnaround and Transformation Study, which reveal that over 600 of the finance professionals most experienced in responding to the downside of economic volatility see a period of widespread business distress looming.

Necessity driving consumer spend in 2022 amidst increasing cost of living

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JCDecaux New Zealand released its IRIS audience study, revealing consumers are scrutinising FMCG spend as the cost of living rises and household budgets are put under pressure. The study also reveals that the emotion or promise of brands can overcome price sensitivity. Consumers seek validation to define which brands remain as necessities on shopping lists. Brands without meaningful quality cues may be swapped out for cheaper alternatives.

US loses strength as a private wealth magnet while Canada holds its own

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The United States has plummeted to 6th place in the Top 10 countries globally in terms of net inflows and outflows of millionaires projected for 2022, according to the forecast high-net-worth-individual (HNWI) figures published by Henley & Partners in the Henley Global Citizens Report, which tracks private wealth and investment migration trends across the globe.  

China forecast to see highest net loss of millionaires in 2022 after Russia

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China is forecast to suffer a net loss of 10,000 US dollar millionaires in 2022, and Hong Kong is predicted to lose 3,000 more high-net-worth individuals (HNWIs), according to the Henley Global Citizens Report, which tracks private wealth and investment migration trends globally. As expected, Russia has experienced the biggest exodus of millionaires over the past six months, with forecast net outflows of 15,000 by the end of 2022 — a massive 15% of its high-net-worth individuals (HNWIs) population and 9,500 more than in 2019, pre-pandemic.

Singapore, ANZ are top millionaire magnets reports Henley & Partners

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Indonesia is forecast to suffer a net loss of around 600 US dollar millionaires in 2022, putting it in the Top 10 countries globally that are predicted to lose more high-net-worth individuals (HNWIs) than they attract this year, according to the latest Henley Global Citizens Report, a study which tracks private wealth and investment migration trends across the globe.

The acclaimed China International Import Expo readies for its fifth edition

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The fifth China International Import Expo will take place from November 5-10 this year. Buoyed by its opening-up policy, continuous optimization of the business environment and strong economic resilience, China will remain a hot investment destination in the years to come, said global experts at the World Economic Forum (WEF) 2022 in Davos, Switzerland.

Illicit market continues to grow in the EU driven by counterfeits in France

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Philip Morris International Inc. is calling for European policymakers to consider the millions of adult smokers who are turning to the illicit market instead of switching to better alternatives. The 2021 KPMG annual study on illicit cigarette consumption, commissioned by PMI, reveals that illicit cigarette consumption increased by an estimated 3.9%—or 1.3 billion cigarettes—last year, reaching 35.5 billion cigarettes consumed across EU member states. Meanwhile, the study estimates that total EU cigarette consumption declined over the same period.