1. Personalization: Personalization is becoming increasingly important in the hospitality industry. Travelers are seeking tailored experiences that cater to their specific preferences and needs. Hotels and other hospitality providers are leveraging technology and data to gather guest information and offer personalized recommendations, amenities, and services.
2. Technology Integration: Technology is revolutionizing the hospitality industry. From online booking platforms to mobile check-in, keyless entry, and in-room automation, technology is enhancing the guest experience and improving operational efficiency. Artificial intelligence, chatbots, and voice-activated assistants are also being used to deliver personalized and seamless customer service.
3. Sustainable Practices: Sustainability is a growing trend in the hospitality industry. Travelers are increasingly concerned about environmental impact and are seeking eco-friendly options. Hotels are implementing energy-efficient practices, waste reduction strategies, and sustainable sourcing of materials. Additionally, eco-lodges, green certifications, and responsible tourism initiatives are gaining popularity.
4. Wellness and Well-being: Wellness tourism is on the rise, with travelers seeking opportunities to relax, rejuvenate, and prioritize their well-being. Hotels are incorporating wellness amenities such as fitness centers, spas, yoga studios, healthy dining options, and mindfulness programs. Wellness-focused retreats and activities are also being offered to cater to this growing demand.
5. Authentic Local Experiences: Travelers are looking for authentic and immersive experiences that connect them with the local culture and community. Hotels are partnering with local businesses, organizing cultural activities, and offering unique excursions to help guests explore the destination beyond the traditional tourist attractions. This trend promotes a deeper engagement with the local community and creates memorable experiences.
6. Food and Beverage Innovation: Food and beverage offerings are becoming a significant differentiator for hotels and resorts. The emphasis is on sourcing local, organic, and sustainable ingredients, providing diverse dining options, and catering to dietary preferences and restrictions. Additionally, culinary experiences such as cooking classes, food tours, and farm-to-table initiatives are gaining popularity.
7. Mobile and Contactless Services: Mobile technology and contactless services have gained prominence, especially in response to the COVID-19 pandemic. Mobile apps are being used for various purposes, including contactless check-in/check-out, mobile payments, room service orders, and concierge services. This trend promotes convenience, efficiency, and a seamless guest experience.
8. Collaborative Spaces: Hotels are creating collaborative and flexible spaces to cater to the needs of remote workers, digital nomads, and business travelers. Coworking spaces, communal lounges, and flexible meeting rooms are being integrated into hotel designs, allowing guests to work, network, and socialize in a dynamic and inspiring environment.

These trends reflect the evolving expectations and desires of travelers, as well as the industry’s response to technological advancements and sustainability concerns. Staying abreast of these trends and adapting to meet the changing demands can help hospitality businesses thrive in the competitive landscape.

The food and beverage industry is always evolving and changing to meet the needs and wants of consumers. As we approach 2023, there are several key trends that are predicted to shape the industry in the coming years. Here are nine of the most important food and beverage industry trends that we can expect to see from 2023 to 2026.

1. Sustainable Packaging
   The environmental footprint of products is becoming an escalating concern for consumers. In response, many food and beverage companies are exploring more sustainable packaging options, such as biodegradable plastics and reusable containers. This trend is expected to continue and grow in the coming years.
2. Plant-Based Products
   The increasing popularity of plant-based diets is a trend that continues to gain momentum. As more consumers seek out plant-based options, food and beverage companies are responding with an ever-expanding range of products, from meat alternatives to dairy-free milk.
3. Health and Wellness
   As consumers become more health conscious, they are seeking out food and beverage products that promote wellness and health. This trend is driving the growth of products that are low in sugar, fat, and calories, as well as those that contain functional ingredients like probiotics and superfoods.
4. Personalization
   Personalization is becoming increasingly important in the food and beverage industry. Consumers want products tailored to their specific needs and preferences, whether customized meal plans or personalized nutrition plans.
5. Convenience
   Consumers are busier than ever, and they are looking for food and beverage products that are convenient and easy to consume on the go. This trend is driving the growth of products like meal kits, prepared meals, and snack bars.
6. Local and Regional Products
   Consumers are increasingly interested in supporting local and regional food producers, and this trend is expected to continue in the coming years. Food and beverage companies are responding by sourcing ingredients locally and highlighting the provenance of their products.
7. Technology
   In the food and beverage industry, technology is becoming more and more significant. From online ordering and delivery to smart appliances that help consumers prepare meals, technology is changing the way we eat and drink.
8. Transparency
   Consumers are demanding more transparency from food and beverage companies, particularly when it comes to ingredient sourcing and production methods. This trend is driving the growth of products that are certified organic, non-GMO, and fair trade.
9. Premiumization
   As consumers become more discerning, they are willing to pay a premium for high-quality food and beverage products. This trend is driving the growth of artisanal, handcrafted products, and made with premium ingredients.

The world of video entertainment is on the brink of a paradigm shift as we step into “The Next Normal.” This exciting future is characterized by immersive experiences, gamified content, and a diverse range of offerings that cater to audiences’ evolving preferences. In this article, we will explore the key trends and innovations shaping the future of video entertainment, and how these advancements redefine how we consume and interact with content. From virtual reality and interactive storytelling to personalized experiences and inclusive representation, the next normal promises to revolutionize the way we engage with video entertainment.

1. Immersive Experiences: Stepping into the Action
   The future of video entertainment is all about immersive experiences that transport viewers into the heart of the action. Technologies like virtual reality (VR) and augmented reality (AR) are revolutionizing the way we engage with content by creating fully immersive environments. Viewers can now step into virtual worlds, explore new dimensions, and interact with characters in ways never seen before. Whether it’s experiencing a thrilling adventure, exploring historical landmarks, or attending live events from the comfort of home, immersive experiences bring a new level of excitement and engagement to video entertainment.
2. Gamified Content: Entertainment Meets Interactivity
   Gamification is reshaping the landscape of video entertainment by infusing elements of play and interactivity into the content. From interactive storytelling experiences and choose-your-own-adventure narratives to competitive gaming and gamified learning, audiences are seeking more than passive viewing. Gamified content allows viewers to actively participate, make decisions, and influence the outcome, blurring the lines between entertainment and gameplay. This trend enhances engagement and provides opportunities for content creators to create personalized, dynamic experiences that cater to individual preferences and tastes.
3. Diverse Representation: Reflecting and Celebrating our World
   In the next normal, video entertainment is embracing diversity and inclusivity like never before. Audiences are seeking authentic representation that reflects the rich tapestry of our society. This includes diverse characters, stories, and perspectives that resonate with viewers from various backgrounds. The future of video entertainment will feature a wide range of narratives that celebrate different cultures, ethnicities, genders, and identities, fostering a sense of belonging and understanding. By showcasing diverse voices and experiences, the industry is not only addressing societal needs but also unlocking new creative possibilities and attracting a wider audience base.
4. Personalization: Tailoring the Experience
   Personalization is becoming a cornerstone of the next normal in video entertainment. With the abundance of data and advanced analytics, content providers can now curate personalized recommendations, content suggestions, and user interfaces. Viewers can enjoy a customized experience that caters to their unique interests, preferences, and viewing habits. From personalized playlists and algorithm-driven recommendations to targeted advertisements, personalization allows for a more tailored and enjoyable viewing experience, keeping audiences engaged and coming back for more.

“The Next Normal” in video entertainment is poised to revolutionize the way we consume, engage with, and experience content. With immersive experiences, gamified content, diverse representation, and personalized offerings, the future of video entertainment promises to be more engaging, inclusive, and captivating than ever before. As technology continues to advance and audience expectations evolve, content creators, platforms, and industry stakeholders have the opportunity to shape this next normal and redefine the boundaries of entertainment. By embracing innovation, embracing diversity, and delivering personalized experiences, the video entertainment industry can create a future that delights and resonates with audiences worldwide.

Money, banking, and finance have come a long way from their early days as simple bartering systems and local credit networks. Today, these sectors are complex, interconnected, and global, with a range of actors and technologies shaping their evolution and transformation.

Evolution of Money

The evolution of money can be traced back to the earliest forms of trade, where people exchanged goods and services directly, without any intermediary medium of exchange. As societies grew more complex, they developed various forms of money, including precious metals, coins, paper currency, and digital currencies.

Digital currencies like Bitcoin and Ethereum are gaining popularity as alternatives to traditional fiat currencies. These currencies are decentralized, meaning they are not subject to the control of any central authority. This makes them more resistant to inflation and government interference but also presents security, regulation, and adoption challenges.

Evolution of Banking

Banks have played a crucial role in the development of modern economic systems. They emerged as intermediaries between savers and borrowers and provided essential services like lending, investment, and payment processing.

Over time, banking has become more complex and diversified, with a range of institutions catering to various needs and markets. These include commercial banks, investment banks, central banks, and shadow banks.

Recent trends in banking include the rise of digital banks and fintech, which are disrupting traditional banking models and offering new ways to access financial services. This presents opportunities for greater financial inclusion and innovation but raises concerns about data privacy, cybersecurity, and regulatory oversight.
But
Evolution of Finance

Finance encompasses a broad range of activities and institutions that deal with the management of money and assets. This includes investment, risk management, insurance, and financial planning.

Financial systems have grown increasingly globalized and interconnected, with complex networks of investors, institutions, and markets. This has led to greater volatility, systemic risk, and financial crises.

Recent developments in finance include the rise of sustainable finance and impact investing, which seek to align financial goals with social and environmental objectives. This presents opportunities for greater accountability and ethical investment but also raises questions about measurement, standardization, and impact.

Envisioning the Future

The future of money, banking, and finance will be shaped by a range of factors, including technological innovation, regulatory frameworks, geopolitical trends, and social demands.

Some possible trends and scenarios include:

• Greater adoption of digital currencies and blockchain technology, leading to more decentralized and secure financial systems
• Continued growth of fintech and digital banking, leading to greater competition and innovation in financial services
• Increased focus on sustainability and impact in finance, leading to greater accountability and transparency in investment decisions
• Greater regulatory scrutiny and oversight of financial institutions, to prevent systemic risk and protect consumer interests
• More collaboration and coordination between governments, institutions, and civil society, to address global challenges like climate change, inequality, and pandemics.

In conclusion, the evolution and future of money, banking, and finance are complex and multifaceted.

The financial technology (FinTech) industry has experienced remarkable growth in recent years, reshaping the way we manage and interact with our finances. Combining innovation, technology, and finance, FinTech companies are disrupting traditional banking and financial services, offering innovative solutions that are more accessible, efficient, and tailored to individual needs. In this article, we will explore the transformative power of FinTech and its impact on the financial landscape.

1. Enhanced Financial Inclusion:

One of the significant advantages of FinTech is its ability to promote financial inclusion by providing services to underserved populations. Traditional banking systems often present barriers to entry, such as high fees and strict eligibility criteria. FinTech companies leverage digital platforms, mobile technology, and alternative data sources to offer affordable and accessible financial services to individuals who have limited access to traditional banking. This includes services like digital payments, microloans, and peer-to-peer lending, empowering individuals to participate in the formal economy.

2. Convenient Digital Payments:

FinTech has revolutionized the way we make payments, offering convenient, secure, and instant digital payment solutions. Mobile payment apps and digital wallets have gained popularity, allowing users to make transactions, transfer funds, and manage their finances with just a few taps on their smartphones. These solutions eliminate the need for physical cash and traditional payment methods, providing a seamless and frictionless payment experience for consumers and businesses alike.

3. Disruptive Lending and Crowdfunding:

FinTech has transformed the lending landscape by introducing innovative lending models and alternative sources of funding. Peer-to-peer (P2P) lending platforms connect borrowers directly with investors, bypassing traditional financial intermediaries. This enables faster loan approvals, competitive interest rates, and increased access to credit for individuals and small businesses. Additionally, crowdfunding platforms have emerged as a popular way for entrepreneurs and innovators to raise funds for their projects, allowing individuals to invest in startups and innovative ventures.

4. Robo-Advisors and Automated Investing:

FinTech has democratized investment and wealth management through the introduction of robo-advisors and automated investment platforms. These digital platforms leverage algorithms and machine learning to provide personalized investment advice and portfolio management services. By automating investment processes, robo-advisors offer lower fees, greater transparency, and accessibility to a broader range of investors, enabling individuals to achieve their financial goals with minimal effort and expertise.

5. Strengthening Security and Fraud Prevention:

As digital transactions increase, the need for robust security measures becomes paramount. FinTech companies have responded by developing advanced security solutions to protect user data and financial transactions. Biometric authentication, multi-factor authentication, and encryption technologies are employed to ensure secure transactions. Additionally, AI-powered fraud detection systems analyze patterns and detect anomalies, enabling proactive measures against fraudulent activities and safeguarding consumers and financial institutions.

6. Regulatory Challenges and Collaboration:

The rapid growth of FinTech has brought about regulatory challenges as authorities strive to strike a balance between innovation and consumer protection. Governments and regulatory bodies are working to establish frameworks that support innovation while ensuring compliance, data privacy, and financial stability. Collaboration between FinTech companies, traditional financial institutions, and regulators is essential to create an environment that fosters innovation, maintains consumer trust, and ensures the financial system’s integrity.

FinTech has transformed the financial landscape by leveraging technology to provide innovative, inclusive, and customer-centric financial services. From digital payments and lending to automated investing and enhanced security, FinTech solutions are empowering individuals, small businesses, and underserved populations worldwide. As the FinTech industry continues to evolve, collaboration between FinTech firms, traditional financial institutions, and regulatory bodies will be crucial to unlock the full potential of this technological revolution and ensure a sustainable and inclusive financial future for all.

But what exactly is gross income, and how does it differ from net income?

Continue reading for everything you need to know about gross income and how it applies to you.

What is gross income?

For individuals, your gross income is the total amount of earned income that you can find on your paycheque before any taxes and deductions are taken off.

It considers all sources of income from your wage, rental income, interest income and even dividend profits.

Businesses calculate gross income slightly differently. Their gross income is also called gross profit, the income they make from selling their product or service minus the actual cost of those products sold.

Related: These 11 U.S. States Are Reducing Individual Income Taxes | Entrepreneur

How is gross income calculated?

Now that you know what gross income is, how do you calculate it?

You may need to calculate your total gross income to acquire a loan from the bank to satisfy the lender.

Your potential landlord may require it to ensure you can afford the rent.

You may even be applying for a credit card, and they require your gross income amount before approving your application.

Continue reading for how both individuals and businesses can calculate their gross income.

Related: How to Calculate Gross Profit: Formula and Examples | Entrepreneur

Gross income calculation for individuals

As gross pay for individuals includes numerous forms of income from employment, rental income, interest income and dividend payments, this must be considered when calculating your gross income.

Example:

If Alex earns an annual income of $100,000 a year at his office job and he also earns $70,000 in rental income from real estate he owns, $10,000 from dividend profits and $5,000 in interest income on his savings account his calculation would be as follows:

Gross Income = $100,000 + $70,000 + $10,000 + $5,000 = $185,000

Gross income calculation for businesses

A business’s gross profit is on the income statement of the business.

It is the business’s annual gross margin before taking off any indirect expenses, interest and taxes.

This calculation represents the business income earned from selling goods or services after deducting any tax deductions regarding the direct costs that the business incurred.

Examples of direct costs can include:

• Employee labor costs.
• Equipment used in the production phase.
• The cost of supplies.
• The cost of the raw materials.
• Any required shipping costs.

Example:

If the total revenue of Brian’s Hardware Store totaled $1,300,000 and their expenses were as follows, what is their gross income?:

• Material cost: $150,000
• Supply cost: $60,000
• Equipment cost: $340,000
• Labor cost: $150,000
• Shipping cost: $100,000

To calculate the gross profit, revenue minus the cost of goods sold (COGS), of Brian’s Hardware Store, the calculation is as follows:

Gross Income = $1,300,000 (COGS) -$150,000 – $60,000 – $340,000 – $150,000 – $100,000 = $500,000

What is net income?

Another question your accountant may ask you is what your net income is.

Your net income is your gross income minus any taxes and deductions taken off by your employer.

Essentially, you can see your take-home pay on your pay stub on payday.

Net income represents your actual total earnings and is what you can use to give yourself an idea of the amount of money you can spend throughout the month.

It is also a good indicator of how much you might pay in taxes every year.

Related: What Exactly Is Your Income Statement Telling You? | Entrepreneur

How do I calculate my net income?

To calculate your net income, first, take your gross income and deduct the following expenses:

• Income taxes.
• Health insurance payments.
• Retirement account contributions.
• Social Security and Medicare taxes.
• Loan payments.
• Child support payments.
• Alimony payments.
• Wage garnishments.

Example:

If Susan’s annual salary is $150,000 a year as a lawyer, and she has the following expenses, what is her net income?:

• Income taxes: $8,000.
• Health insurance payments: $2,000.
• Retirement account contributions: $5,000.
• Loan payments: $10,000.

To calculate Susan’s net income, the calculation is as follows:

Net Income = $150,000 – $8,000 – $2,000 – $5,000 – $10,000 = $125,000

Related: How To Calculate Net Income: Here’s a Comprehensive Guide | Entrepreneur

What is taxable income?

You will use your gross income when you fill out your state and federal income tax papers.

Next, you can deduct any applicable deductions to determine how much you may owe.

Remember that your gross income is not the same as your taxable income.

This is because some sources of income are not counted as part of your gross income for tax purposes.

Some sources of income that are not taxable include:

• Life insurance payouts.
• Specific Social Security benefits.
• State or municipal bond interest.
• Certain inheritances or gifts.
• 401(k) contributions.
• Health savings account contributions.
• Educator expenses.

Your taxable income is also what may be used to determine what tax bracket you are in.

Related: Is it taxable income if a company reimburses an employee for health insurance premiums? | Entrepreneur

What isn’t considered taxable income?

While most sources of income are considered taxable, there are a few cases where income isn’t taxed.

Partnership income

Typically, a partnership is not considered to be a taxable entity.

The distributive share of partnership income, such as the gains, losses, deductions or credits, is usually based on the partnership agreement.

You must report these on your tax return regardless of whether they have been distributed.

Even though a partnership typically doesn’t pay tax, it is still required to file an information return.

S corporation income

Typically, an S corporation does not have to pay any tax on its income.

Instead, the income, losses, deductions and credits are passed through to the shareholders based on each of their pro rata shares.

Again, even though an S corporation normally doesn’t pay tax, it is still required to file a return.

Related: Tax Basics For Business Owners | Entrepreneur

What is adjusted gross income?

The IRS defines your adjusted gross income (AGI) as your gross income minus any applicable adjustments.

Your adjusted gross income will never be higher than your total gross income and can be lower.

Your accountant will use your adjusted gross income as the starting point for calculating your taxes for the year and helping to determine your eligibility for any tax credits and deductions to help lower your overall tax bill.

Related: What Is Adjusted Gross Income? Everything You Need To Know. | Entrepreneur

What are tax brackets?

There are several different tax brackets that you can fall under at income tax time.

Federal income tax rates are broken down into seven sections called tax brackets.

As your income increases, so does the tax rate that you will pay.

To figure out what your marginal tax rate is or what your highest federal tax bracket is, you may need to know the following: