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The growth of luxury tourism has been brought to a grinding halt due to the COVID-19 pandemic affecting most parts of the world since early 2020. Although the time for recovery of hospitality and tourism industries is still unclear, experience from the SARS outbreak in 2003 showed that the bounce back from consumers could be fast. The group of most affluent consumers, mostly known as HNWIs (high net worth individuals), will resume their original consumption behaviour much sooner than the rest of the market; these affluent consumers are the main target market of luxury hospitality and tourism industries.

This chapter presents different types of luxury tourism, luxury lifestyle, luxury tourists' decision-making and luxury hospitality products. The luxury food and beverage business in Singapore is presented to illustrate the commercial environment during the pandemic.

At the time they occurred, the savings and loan insolvencies were considered the worst financial crisis since the Great Depression. Contrary to what was then believed, and in sharp contrast with 2007–2009, they in fact had little macroeconomic significance. Savings and Loan (S&L) remediation cost between 2 percent and 3 percent of Gross Domestic Product (GDP), whereas the Troubled Asset Relief Program (TARP) and the conservatorships of Fannie and Freddie actually made money for the US Treasury. But the direct cost of government remediation is largely irrelevant in judging macro significance. What matters is the cumulative output loss associated with and plausibly caused by failing financial institutions. I estimate output losses for 1981–1984, 1991–1998, and 2007–2026 (the latter utilizing forecasts and projections along with actual data through 2015) and, for a final comparison, 1929–1941. The losses associated with 2007–2009 have been truly disastrous – in the same order of magnitude as the Great Depression. The S&L failures were, in contrast, inconsequential. Macroeconomists and policy makers should reserve the word crisis for financial disturbances that threaten substantial damage to the real economy, and continue efforts to identify in advance financial institutions which are systemically important (SIFI), and those which are not.

This chapter explores in-depth the particularities of the luxury travel industry during the coronavirus pandemic. The chapter begins with a literature review on the concept of the experience referred to as luxury travel, followed by a brief overview of the measures adopted globally in the tourism sector for the prevention of COVID-19. Due to the impact of the crisis, high-net-worth individuals (HNWIs) have changed their motivations, preferences and behaviour. To meet the new demands prompted by the pandemic, the luxury travel industry has adopted a wide range of strategies that have been classified into three groups: (1) reducing new moments of friction; (2) experiencing protection and (3) building new memorable experiences. A selection of examples from the luxury travel industry illustrates each category. The chapter ends with a case study that describes the strategy adopted by Fiji to respond to the pandemic. The manner in which Fiji has tackled the pandemic may be inspiring for other tourism-dependent destinations as Fiji has been able to protect the health and safety of the inhabitants of its islands while preserving the local economy, which relies on tourism.

This chapter aims to critically access the Tier 1 (Investor) visa’s effect on the conceptualisation of the British Migration system. The scheme offers an exclusive route to temporary residency in the UK in return for a £2 million investment in Britain. It is contended that the government have consistently underestimated the continual detrimental effects of offering such a scheme due to their overarching pursuit for economic gain. As such, the scheme has imparted social disadvantage, highlighting the prevalence of inequality and the existence of a hierarchy of desired migrants. Furthermore, it is asserted that the investor scheme is facilitating threats to the public’s safety, exemplified in the recent Salisbury Novichok attacks. However fundamentally, this chapter will seek to illustrate that the Tier 1 (Investor) visa has commodified the UK’s migration system, bestowing investors with a ‘golden ticket’ and in turn disregarding the needs of the UK’s citizens.

Institutional complexity shapes what is perceived as possible by framing cultural debates about practices, but organizations in turn shape how logics interpenetrate fields, suggesting that we must consider both the degree of compatibility between logics and the degree of practice variation in a field. Our exploratory study of three entrepreneurial impact finance organizations considers how they situate their practices between the market and community logics. We offer a recursive view that considers how multiple institutional logics shape practices and how entrepreneurial organizations adapt and invent new practices that, through their continued use, can influence the institutional complexity of a field.

This chapter sketches a new development in responsible investing, namely impact investing. Impact investing, which we define as the entire spectrum of investments deliberately aiming to create shared value, can be seen as an integrative approach to wealth creation through investments. The case of microfinance is used to illustrate this new development.

The chapter combines a viewpoint and a case study that serves to illustrate the practical relevance of the viewpoint.

The chapter starts with a brief overview of the origin and rise of responsible investments, followed by a description of mission-related investments and impact investing as its latest development. Microfinance is presented as a special case, thereby focusing on the investors, the asset allocation and the meaning – and application – of the notion of impact.

The chapter shows that a focus on social and financial returns can be combined without having to make serious financial sacrifices. It also demonstrates that investments can come from investors as diverse as pension funds, foundations or high net-worth individuals.

If impact investing really takes off – particularly supported by institutional money – there will be much more opportunity to tackle social and environmental innovation than without those investments.

The chapter challenges (institutional) investors to evaluate their responsible investment strategy and to rethink their asset allocation. Impact investing can become an important addition to the responsible investment landscape.