00:00Climate change is very much related to cost. Travel and tourism is becoming much more expensive and
00:06you all have travel this summer I guess and you notice it in your pockets you know for what you
00:10used to pay that now you're paying double the price if not triple the price and this is having
00:15a huge impact in perception too. Ambassador White was talking about the Transatlantic Corridor by
00:22the way the most important travel corridor of the world. It's still by far U.S. is the most important
00:28long-haul market for Europe. We have a huge intra-European tourism. 85 percent of tourism
00:34in Europe is Europeans traveling in Europe but you know from outside of Europe we have
00:39a lot of Americans still coming not only veterans but a lot of you know also Gen Z and you
00:44know
00:45Gen Alpha and so on trying to to see the magics and the magic of Europe. The problem with cost
00:51increasing tourism is that it puts a huge scrutiny into the service. We have also the issue of labor
00:58after the pandemic a lot of people moved out from the travel and tourism business and never came back
01:02so we are struggling in some countries you have to import labor like from far away from Pakistan from
01:11Nepal you see in the most iconic places in the Mediterranean and you are served by someone you
01:17know from the sub-Indian continent which and then you have very high unemployment rates some places in
01:24Europe like my own hometown in Andalusia so there is like a dichotomy there you know how can we not
01:29fix the problem internally and again governance I think it's the it's the answer here
01:35you
01:37you
