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The video uses come clips of “THIS IS AKONCITY” from Akon, go check out their video as well.
Early on in my investing career, I learned a principle that I have used to steer my investments and that is *”money goes where it is treated best”*
When you start thinking in these terms, you start to look at your money and your investments totally different just by asking yourself “is this the best place for my money”
well carrying on with this trend, one thing that I am super excited to see develop is that now we are starting to see people want to go where they are treated best I have talked about this in some previous real estate videos where people are moving, I have called it the great migration
people want to go where it’s best for them and now we are seeing this happen in mass we have the baby boomers retiring and wanting to move somewhere better which for them is somewhere warmer where they can play golf and tennis year round where the cost of living is low, where taxes are low and this has been accelerated with the pandemic as many businesses including Google, Facebook and Twitter in Silicon Valley saying workers never have to come back to the office, and can just work remotely forever
and this is causing everyone to ask themselves: “Is this the best place for me and my family”
Akon broke ground on a planned $6billion crypto city on the coast of Senegal which is his home and is one of the more safe and stable countries in Africa The plans are to develop about 2k acres about 100 miles away from the capital city of Dakar. and a short drive from Senegal’s new $50 million dollar airport.
Senegal’s current president as well as the minister of tourism are the main partners of the project from within the Senegalese government. The idea is to provide a high tech hub for entrepreneurship
and innovation in Africa, which can be replicated in other countries.
But it will also be a hub for clean energy, cryptocurrency-fueled transactions, and a place where African Americans can go to escape the perceived racism in the United States. Of course, plans are far from a finished product, and there are some reasons to be skeptical.
Another example is what’s happening here in the US, in Georgia where 19 black families recently bought 96 acres with the goal of creating a town where black people can feel safe, free from oppression and systemic racism.
Generally, the idea is to implement lower taxes and less regulation to attract business and investment. There are a few good examples of this working for us to observe One of which is Shenzhen, China.
In what was a very closed off Communist country In the 1980s, the city was allowed to try economic innovations like removing price controls and accepting foreign investment.
Another great example of a modern special economic zone is located in high crime and high poverty area of Honduras. Roatán Prospera is a zone for economic development and employment
(Zede) located on the much safer island of Roatán, off the coast of mainland Honduras. The special economic zone is largely independent.
We have also seen examples of this working in Puerto Rico as well on January 17 2012, the country passed legislation to attract business, investors, and entrepreneurs to come to the country and start businesses and hire local workers. In exchange for starting a business and hiring local workers, the businesses enjoy special tax advantages are especially attractive to US residents
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