With extensive UK media coverage of the bigotry unleashed by Brexit, the resulting ‘opening of Pandora’s box’ to reveal anti-LGBT, racial, anti-Semitic and other prejudices and hate speech, the damage to the UK’s hereto reputation as an inclusive and relatively successfully multi-cultural society has already been done.The Brexit turmoil and rhetoric has acted to validate such bigoted thinking and speech – and the resulting damage to the UK’s appeal as a destination for LGBT tourism and travel is likely to be manifest going forward. For property purchases by non-UK resident members of the LGBT Community, London is likely to be most affected. However, this shift in public perception may also increasingly encourage members of the UK’s own LGBT Community to move abroad, whether seeking to work or to retire to a more genuinely inclusive environment.This may create opportunities for other countries and destinations - within Europe, not least for Spain, already top of the list for UK citizens living abroad within the European Union, as well as Ireland and France which typically take second and third place on the list of EU countries popular among Brits abroad – and potentially for other forward thinking countries and destinations (e.g. certain cities) as well.
Thailand could become the first in Southeast Asia to allow same-sex unions, with significant positive implications, including for jointly owned assets and inheritance, as well as for the country’s profile in the competition among many Asian countries to attract the purchasing power of the LGBT Community.While disagreements continue among Thailand’s parliamentarians and the law has yet to passed by Parliament, after its approval by Cabinet late last year, the public relations and international profile related signals are already being picked up by the LGBT Community, internationally as well as within Thailand itself, significantly enhancing Thailand’s existing appeal to the Community as a holiday and retirement destination.Click here to read more from Fridae.asia.
The ruling against same-sex marriage came despite the Court acknowledging that the country’s 1987 Constitution "does not define or restrict marriage on the basis of sex, gender, sexual orientation, or gender identity or expression". However, as a potentially positive signal, the Court also highlighted the country’s history of anti-LGBT discrimination, calling on the Philippines’’ Congress to address the recognition of same-sex unions.Meanwhile, the so-called SOGIE anti-discrimination bill has been languishing in parliament, with its third reading passed by the House of Representative now over 2 years ago, but since dying in the Senate – and then resubmitted for the current Congress.This stands in sharp contrast to the recent efforts by other Asian destinations such as Thailand and Taiwan, with their significant and very positive efforts to promote greater LGBT equality and inclusion, and the resulting much greater appeal to the LGBT Community when it comes to the fierce competition between destinations for the valuable LGBT travel and tourism segment, as well as attracting property purchase by the LGBT Community for second homes and retirement planning purposes.Click here to read more from Fridae.asia.
A USA Today article observes how some iconic "gaybourhoods" are becoming so expensive that LGBT people are being priced out, citing neighbourhoods such as San Francisco's Castro district and New York's Greenwich Village, both with very significant cultural and historical significance for the LGBT Community. Click here to read more from USA Today
The LGBT market is a significant and growing market. In 2018, LGBT Capital estimated the LGBT population in the European Union to be around 33 million individuals, with some US$900 billion of annual spending power. Globally, the LGBT population was estimated at just below 500 million with a spending power of some US$3.6 trillion and an estimated total household wealth of US$18 trillion. These are serious numbers and should command respect!
Today, Property Equality has its official launch in the UK!! Property Equality, the first Property Portal designed to serve as a 'home finder' tool for the global LGBT community, alongside informative editorial to raise awareness for the Community in its property and financial planning objectives. Property Equality’s offering is being rolled out on a country-by-country basis. Watch out for our next launch - after Spain and the UK, where might that be?!
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