In 1973, travel writer Paul Theroux (father of Louis) set off on a train journey around the globe. From London, to Istanbul via Europe and into the Middle East. The world’s largest train network in India carried him across the Subcontinent. Next stop was the Far East and into Russia. The 5 day trans-Siberian journey returned him safely back to Europe and home.
He produced a book about the adventure, ‘The Great Railway Bazaar.’ A remarkable account of an extraordinary journey. I’ve read it a dozen times in the past 30 years since stumbling across it as a teenager. In 2007, considerably older, Paul Theroux retraced his tracks in ‘Ghost Train to the Eastern Star.’ His closing chapter, reflecting on the changes across the planet in 40 years includes these words, ‘…Most people on earth are poor. Most places are blighted and nothing will stop the blight getting worse…No one on earth is well governed.’
If you catch the headlines of any news programme, you may be inclined to agree with Mr Theroux. There exists instability in all parts of the world. Instability is more pronounced in some regions, I’m thinking Syria but do not ignore last week’s disturbances in Chicago where Trump protesters clashed with Trump supporters.
Stability yields prosperity. Most countries in the world have some form of pension infrastructure. The ability to squirrel away funds that one day will support you in retirement. These pension funds are collated by the investment services industry who seek to invest and watch them grow. Investors place a premium upon stability.
Stability is a key attribute when it comes to placing pension funds. The UK enjoys stability. Successive governments here in the UK are democratically elected without violence. The Police maintain law and order without the creation of a police state. The Army is the backbone of the UK which can claim the fourth highest defence budget on earth, but there is little risk of it taking charge of Parliament. The UK is relatively well governed. Little surprise, it has harvested the fruits of stability, positioning itself as the fifth largest economy in the world. We are expected to claim fourth place in the near future.
Investors place a premium upon stability.
With stability comes the question of trust. The UK is trusted. It is home to the largest insurance industry in Europe and the third largest in the world. The degree of trust enjoyed by the UK is further illustrated by inward foreign investment. Purchase a home in Dubai, the absence of a land registry system means you own it in faith. Purchase a home in the UK, land registry means you literally own a castle. With increasing instability around the world, the UK is a beacon for safe investment.
Representatives from Greater Birmingham and the Midlands region are at MIPIM this week. MIPIM is a property and investment conference which brings together the world’s most attractive development opportunities and presents them to the world’s money men and women. It offers a forum for local policy makers and regeneration initiatives to meet financial decision makers.
I would like to wish Greater Birmingham’s representatives all the very best in their endeavours to attract investment to our region. It’s a very exciting time for the Midlands Engine. To the world’s investors, thank you for visiting the Greater Birmingham Stand at R7.B12, I’m confident you will be assured of our region’s stability and trust here in the heart of the United Kingdom.
Paul Theroux’s book ends on a positive note, he asks himself ‘Is there hope? Yes. Most people I’d met, in chance encounters, were strangers who helped me on my way. And we lucky ghosts can travel wherever we want. The going is still good.‘
Good luck at MIPIM 2016.
Jas Sansi is a freelance photographer based in Greater Birmingham and a trustee of LoveBrum @LoveBrumUK
@jassansi 07930 837 505 sansi1@btinternet.com
Jas Sansi PHOTOGRAPHY 