Wealth
Mongolia’s ‘ambitious’ plan could boost tourism to 10% of GDP by 2030, says minister
Tourism could comprise 10% of Mongolia’s gross domestic product if the country can attract 2 million annual tourists by 2030, the country’s tourism minister told CNBC Wednesday. “We have a big, ambitious kind of goal, which is about 2 million tourists by 2030, which will be around a $4 billion contribution towards our GDP,” […]
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Donald Trump Jr. co-founds new private members club, Executive Branch, with a $500,000 fee
A new private membership club in Washington, D.C., co-founded by Donald Trump Jr., is charging a $500,000 membership fee — and there’s already a waiting list. The club, called Executive Branch, held a launch party on Saturday night that included at least a half dozen members of President Donald Trump’s administration as well as wealthy […]
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Indian airlines can’t fly over Pakistan. Here’s how that is affecting flights
Pakistan’s closure of its airspace to Indian airlines Thursday is forcing carriers to alter some routes that link India to Europe, North America, Central Asia and the Middle East. Indian carriers — including Air India, IndiGo, Akasa Air and SpiceJet — must now fly longer, and thus costlier, flights on some westbound routes. The detour […]
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Fewer Americans are planning summer vacations. Travel costs aren’t the top reason
Fewer Americans are planning to travel this summer, according to a survey by the consumer finance company Bankrate. Some 46% of respondents said they are planning a summer vacation this year — down from 53% in 2024. Of those who don’t intend to travel, nearly two-thirds (65%) said money was the main reason. However, it’s […]
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More rich Americans are opening Swiss bank accounts fearing U.S. risks
A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. A growing number of wealthy Americans are opening bank accounts in Switzerland as part of the “de-Americanization” of their portfolios, according […]
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Tax attorneys say IRS has become a ‘zombie’ as agency cuts staff and halts audits of the wealthy
People walk in the rain past the Internal Revenue Service (IRS) building in Washington, D.C., U.S., April 11, 2025. Jonathan Ernst | Reuters A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. […]
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How does an island with high prices and few beaches attract tourists? Singapore lays out a plan
Inexpensive hotels and swaying palm trees have long attracted travelers to Southeast Asia, but Singapore is doubling down on a different strategy — focusing on increasing tourism receipts instead of traveler arrivals. Officials on Friday outlined a plan to increase tourism revenue in the city-state from a record-breaking $29.8 million in 2024 to $47 million-$50 […]
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The wealthy are loading up on cash, gold and family trusts during market turmoil
A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. Wealthy investors have made the best trade over the past week — largely doing nothing. While many hedge funds and institutions […]
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Is it safe to travel to Thailand right now? Thai officials say yes
The Tourism Authority of Thailand is expecting that country’s upcoming Songkran festival will generate more tourism revenue than it did last year, despite projections that the March 28 earthquake has dampened tourist arrivals to the kingdom. The 7.7-magnitude earthquake, which epicentered in neighboring Myanmar, caused a building under construction near Bangkok’s famous Chatuchak market to […]
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Family offices are moving money out of the U.S. on tariff, economic fears
A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. At his Singapore-based family office, Srihari Kumar has long favored U.S. investments. The former Goldman Sachs managing director, who also co-founded […]
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