Jan. 11, 2011:
"Morocco's prime tourist destinations--cities like Marrakesch, Meknes, and Fes--have fine hotels," writes Global Investing Correspondent Vivian Lewis.
"But the most attractive and cheapest places to stay are their Riads. These are old Arab houses built around courtyards, open to the sky, with little gardens or pools in the middle. From the street they are just nail-studded doors in high blank walls. But, inside that door, the Riad is a haven of peace and luxury, shut off from the noisy town, with all its rooms opening onto that quiet, green courtyard.
"Many such Riads have been converted into boutique guesthouses, usually with no more than four or five bedrooms. Old Arab tiles and artworks, such as carved wooden doors, window frames, and screens, are typically used in these restorations, which are carried out to the highest standard. Bedrooms have en-suite bathrooms and divans for sprawling on like a pasha. Breakfast is served in the cool courtyard, and other meals may be available, too. Often there is a hammam, or Arab steam bath, massages, and treatments.
"Riads are open the year round, as Morocco no longer has a tourist season. In the cooler, wetter winter months, the inner courtyards are often cunningly covered with transparent plastic sheets that catch the rain and funnel it down a long hose to the garden or pool. Luckily, Morocco's winter rains fall mainly at night.
"Some Riads provide wine and snacks for their guests. If yours does not, you can buy a bottle at a Western-style restaurant and take it back with you. Meknes and Fes have been major wine-making centers since Roman times, but it is hard to find a bottle in these cities' Arab and Islamic souks.
"Morocco's Riads are very Internet-conscious. A Google inquiry about the Riads or any major city will turn up a host of websites and photos."Continue Reading:
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"Then the euro started to climb, reaching a peak of nearly US$1.60 in 2007. Anyone living there was paying nearly double the dollars to get the same amount of euros, the same goods and services. That hurt.
"Now the euro stands at about 1.29. In the first few days of 2011 alone the euro has fallen from 1.34. That's huge. Traders are betting that the United States will recover sooner and faster than much of Europe, that interest rates in the States will rise sooner than those in Europe. Higher interest rates and a stronger economy mean a stronger dollar.
"Let's hope the dollar gets back down to parity with the euro, that is, 1 to 1. Then Europe will present very good value, indeed.
"Unfortunately most of the rest of the world continues to get more expensive for those with dollars. Huge flows of dollars into Argentina and Brazil, into Malaysia and Thailand, are driving up local currencies. In a recent study (http://goo.gl/hjzZ2) Sao Paulo, Brazil, came out as the world's second most expensive city, behind Oslo. Cities in Argentina, Uruguay, and Chile are or soon will be close behind.
"Bangkok came out as second-cheapest in the survey. Still, because of a rising baht, Bangkok costs way more than it did just a few years ago.
"To keep the dollar from falling further, Brazil last week did another round of exchange controls. Thailand, China, and Malaysia intervened in their currency markets. But the world is awash in dollars. Third World countries will have to work hard to protect their currencies from rising further.
"Meanwhile, again, Europe provides good value and opportunity. Consider a trip to the south of France--the Basque country, say--or to the beaches in Spain. You should find costs much lower than just a few years ago."
Kathleen Peddicord
P.S. As Europe grows more affordable for dollar-holders, we're planning more Euro-coverage this new year, starting with a complete report on French Basque country in this month's issue of my Overseas Retirement Letter, due in subscribers' e-mailboxes Jan. 15.
If you're not yet an ORL subscriber, get on board here now in time to read Euro-correspondent Lucy Culpepper's complete guide to retirement in this beautiful, affordable region of France.Continue Reading:
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Dec. 22, 2010:
"Kathleen, in general I agree with your main conclusions in your Overseas Retirement Letter report on Medellin, comparing it with Panama City. Volumes could of course be written on the subject, but let me address just a few points.
"In Medellin, one can rent a first-class apartment, well designed and well finished, in several excellent neighborhoods, for considerably less than in Panama City. The result can be big annual savings.
"In Medellin, the restaurant qualities and services are excellent, and there are many upscale restaurants, as well as the 'tipico' places that are in themselves delightful. The prices are generally excellent.
"Regarding the 'gentility' of the taxi drivers, try rush hour in Medellin, and you'll see that the drivers are just as aggressive as anywhere, especially in the downtown area.
"Out in the suburbs, you are right. Things are much less frantic.
"Overall quality of life? Very subjective, of course. But for developing a social life, sophisticated residents, quality of the clubs, restaurants, not to mention a very agreeable climate, and so forth...Medellin, here I come!"
--Ken Latta, United StatesContinue Reading:
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"The most obvious change is the architecture. Every house, and I do not exaggerate, is painted white with lots of Basque red paintwork. You can buy the paint at any Home Depot-type store. The paint pot will be labeled 'Basque Red.' And that is likely the only red paint in the store. In Basque country, there's just one red.
"There is also Basque Green, but nearly everyone here sticks with the red.
"This collective paintwork has the effect of making everything appear pristine and cared for. Even the neighboring people of the Béarn marvel at the incredible upkeep of Basque homes. This slightly heavy-handed painting decree is imposed by the local government sometimes, half-jokingly, referred to as the Communist State of Pays Basque!
"The Basque people also have their own language, music, dance, sport, cuisine--reputed to be one of the best in France--myths, flag, and even alphabet typeface.
"The Basque Region (Pays Basque in French and Euskal Herri, meaning 'Land of the Basque language,' in the Basque language of Euskara) is made up of seven provinces that sit astride the French-Spanish Atlantic border. Four of the provinces are in Spain (Alava, Viscaya, Guipuzcoa, and Navarra), and three are in France (Labourd, Bas Navarre, and Soule). This geographic arrangement gave rise to an old form of Basque nationalist graffiti ('4 + 3 = 1') and the motto for Pays Basque ('Zazpiak Bat'), meaning 'The seven make one.'
"The French Basque provinces, sometimes referred to as the Northern Basque Country, form the western part of the Pyrenees-Atlantic department. The Atlantic Ocean forms the western boundary, the Spanish border the southern, and the River Adour the northern border.
"Within the Pyrenees-Atlantic department the Basque region is divided into the Basque Coast (regional capital Biarritz), and the Basque Country (regional capital St. Jean Pied de Port). And, in good ol' French style, there's yet one more layer of administration for this area; the Basque region forms the southernmost tip of the region of Aquitaine.
"The geography is intense. It reminds me of a young child's drawing of the countryside where every type of geographic feature is squeezed onto one sheet of paper. Small steep valleys, rolling hills, towering mountains, meandering rivers, a wild coastline, forests and woodland, all crammed into about 31,000 square feet. And all gloriously green and lush.
"At the last census (2006), the population of the Northern Basque Country (NBC) was about 260,000. The projected population for 2020 is 317,000. Over the last 40 years the population of the coastal area and the area immediately inland has increased in size, while that in the interior (particularly in the Soule) has decreased. This is directly related to employment opportunities in those regions.
"The Basque Coast lies on the Bay of Biscay and runs for 30 kilometers from Biarritz to Hendaye at the Spanish border. This coastline has 5 kilometers of exceptionally beautiful beaches, with many winning European awards for high standards of cleanliness and maintenance.
"The main beach at Biarritz, Grande Plage, is where you go to people-watch, ogle at the surfers, have a coffee sitting on a café terrace, or wander along the promenade. Grande Plage can get crowded in summer, but there are other beaches to escape to, such as Ilbarritz.
"At Anglet, the wide open sandy beach is the place for beach sports and playing in the surf. For more quiet, cove-like beaches, try Bidart or Guéthary. If you prefer to swim in protected water, away from the waves, head for St. Jean de Luz. The cobblestone lanes of this town are the best place for boutique shopping.
"The water in many parts of the bay is shallow, giving rise to spectacular surf. This coastline, in particular Biarritz, was the birthplace of French surfing, back in the late 1950s, after the American filmmaker Peter Viertel amazed and intrigued the locals by surfing a Californian longboard. Biarritz continues to hold a top spot in surfing circles, hosting international competitions and the annual weeklong Biarritz Surf Festival.
"My favorite small village on the coast is Guéthary. The half-square-mile of homes are so perfectly kept that I felt as if I was walking through an exhibition village. The first written record of the village dates back to 1193; however, Roman remains of a salt factory have been discovered at the railway station.
"The village was also an important whaling port, and you see reminders of this all around. The beach at Guéthary is probably the wildest along this coastline, and the surf break is good, so it's always busy with 'dudes.'
"There's a fabulous restaurant on a grassy knoll right next to the beach called Cenitz Ostatua (www.cenitz.fr). You can spend the day at the beach then stroll up for a sumptuous evening meal of freshly caught seafood or meats grilled on a big barbecue in the garden..."
Kathleen Peddicord
Editor's Note: Lucy's complete report on living and retiring in French Basque country will be featured in the January issue of Overseas Retirement Letter and includes a detailed budget showing that a retired couple could live comfortably and well in this picture-postcard corner of France on about 2,000 euro per month.
If you're an ORL subscriber, look forward to Lucy's comprehensive and colorful report in your e-mailbox early in the New Year. If you're not yet an ORL subscriber, get on board here now...in time to start 2011 off right!Continue Reading:
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Nov. 3, 2010
"It's the season of...strikes!" writes France Correspondent Lucy Culpepper.
"You may have read about all the pensions' reform protests and strikes that have been going in France. The reason? A proposed pension reform law that finally has been passed. This increases the legal retirement age from 60 to 62 by the year 2018 and from 65 to 67 for a full pension, regardless of contributions history.
"Different regions have been hit by the strikes that have plagued this country in different ways. Luckily for us here in the southwest, there has been little fuel restriction. Meantime, though, more than 4,500 petrol stations in France are without fuel. Strike action brought all local transport (buses) to a halt and has disrupted flights in and out of the region. As of this writing, our trash is being collected, unlike in many regions across France.
"Feelings among our French neighbors are mixed. They are worried about the effects the strikes are having on the economy. The finance ministry has estimated that the strikes have cost the French economy up to €3.2 billion. The petro-chemical industry (a major employer in this region) is losing €33 million a day, while Air France is losing €5 million a day.
"On the other hand, our French friends don't like what the government is doing.
"Meantime nationals from other countries are wondering why France is so behind the times with its reforms. The UK is reviewing a law that currently makes it possible for employers to force retirement on its employees at the age of 65; in other words, many Brits want to work longer! C'est la vie."Continue Reading
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