With the euro crisis nipping at Italy's finances, local budgets have been severely squeezed. To try to ease the pain, the jewel in the country's tourist crown is targeting ticketless public-transport users who do not play fair, Colin Randall, Foreign Correspondent, writes from Venice
Think Venice and, automatically, you think water.
The heart of this stunningly beautiful city, built on more than 100 islands in a lagoon at the northern summit of the Adriatic Sea, can be explored only by negotiating its canals and crossing its bridges.
For many, the emblem of Venice remains the gondola, the long rowing boat that served for centuries as the main method of getting around.
But these days the gondoliers navigate their craft mainly for short tourist excursions - typically €80 (Dh380) for 40 minutes - or private ceremonies.
In their place as the principal public transport system has developed a bustling network of canal buses, or vaporetti, that carries millions of passengers as effectively as the underground railways of, say, London, Paris and New York.
In harsh economic times, with Italy feeling a particularly chilly financial drought, the service has to contend with dwindling regional funding and rising costs, especially for fuel. And as part of the struggle to balance the books, the public company that runs the canal buses, Azienda del Consorzio Trasporti Veneziano (ACTV), is waging war on fare-dodgers.
The impression gained by many users of the vaporetto service between hotels, bus and railway stations and such tourist magnets as St Mark's Square, the Lido and the islands of Murano and Burano, is of a service that is easy to avoid paying for.
Passengers wander on and off untroubled, for the most part, by ticket control barriers. Boats serving key destinations are often so crowded that even if an inspector appears, only a few travellers will be asked to produce valid tickets before the next stop is reached and observant offenders can smartly disembark.
Failure to produce a ticket carries a fine of €52 plus the cost of a single journey €7 unless the passenger makes the first move, approaching an employee on boarding the boat to offer payment if, for example, ticket machines were out or order. On a busy weekend in May, one ticketless American woman could not claim when challenged to have made any such approach, yet seemed to have little difficulty in convincing an inspector to take no further action than selling her one.
But appearances may be deceptive. ACTV is adamant that it has the problem under control and that with 140 inspectors covering the network, the American was rather fortunate not to have been fined. But officials acknowledge that further action is needed to stop revenue draining away unnecessarily.
"I could talk about this for three days," says Marcello Panettoni, president of the AVM Group, which owns ACTV. "You may be lucky in a short visit and encounter few controls and it is possible to use the service on a single day and not be checked. But you should certainly expect to be asked to produce your ticket if you used the service on, say, three days in a week."
He points out that in a country where fare evasion is a serious issue - the national rate on public transport is around 20 per cent - the vaporetto service's record is comparatively good. Fare-dodging in April, for example, was estimated at just 2.5 per cent, with a total of 612 vaporetto passengers found without tickets and fined, mostly paying on the spot or within days. Last year, inspectors imposed about 50,000 fines, although this figure includes penalties for people using the company's buses on roads away from the canals without paying. Fare-dodging on those buses was estimated at 5.6 per cent last month.
But even if ACTV sees reason to believe it has had some success against cheats, the evasion that does occur costs the company about €1.5 million a year on its own calculations, which may be conservative.
The loss of revenue is especially disturbing at a time of need for financial rigour in the way the service operates. The Veneto regional government reduced its subsidies by €13m in 2012/13 and €8.5m the year before; the figure currently stand at €76m. Meanwhile, annual fuel costs have risen by €4m. There are some 3,000 employees but ACTV insists it wants to make the economies necessary without laying off staff.
"We are trying to reorganise services and find economies without sacrificing the service to the public or having to lose employees," Mr Panettoni says.
"We are going to eliminate some journeys rarely used and re-organise the whole company starting from a strong spending review. We are cutting and reducing all company costs, re-organising all services in order to be more competitive and efficient."
This suggests greater savings are needed than the €6.7m economies found in 2012.
The reduction if not eradication of cheating has a small but important part to play. Ticket control barriers have been introduced at a few key stops, including Tronchetto, Accademia and others on the tourist trail, and more are planned.
They would not be practical for safety reasons at all the network's 80 stops but Mr Panettoni, who is also president of Italy's public transport operators' association, insists that controls are already energetically enforced. Inspectors target each of the 23 lines every other day in rotation.
He does promise further measures, however. "We want to improve it further by a combination of technology and staff, with control barriers at more stations and more people to carry out controls on board," he says.
The aim is to make the system as cheat-proof as, for example, the London Underground or Paris Metro where those seeking to avoid paying have to vault barriers or "double up" with paying customers as they pass through.
Checks are being stepped up at some of the busiest stops such as Rialto, Piazzale Roma and the railway station, and more staff will be used to verify tickets before passengers board the boats if installing new barriers is not an option. "I can assure you that only a few people could escape our controls," the president says.
Venice attracts 26 million visitors a year and the vast majority rely for part of their transport needs on the vaporetto routes.
"The importance of public transport is becoming nowadays fundamental," Mr Panettoni adds. "European cities and especially Italian ones are not suitable for private transport because of their structure and the presence of numerous historical monuments.
"In Venice, we must make a bigger effort compared with other cities because we are managing public transport on water, with all the problems and costs that means.
"But we have to connect places and people and have to be 'green', investing money to be more and more environmental respectful. This is the aim for the future: let our city be more liveable."
buisness@thenational.ae
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Company%20Profile
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COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
PROFILE OF CURE.FIT
Started: July 2016
Founders: Mukesh Bansal and Ankit Nagori
Based: Bangalore, India
Sector: Health & wellness
Size: 500 employees
Investment: $250 million
Investors: Accel, Oaktree Capital (US); Chiratae Ventures, Epiq Capital, Innoven Capital, Kalaari Capital, Kotak Mahindra Bank, Piramal Group’s Anand Piramal, Pratithi Investment Trust, Ratan Tata (India); and Unilever Ventures (Unilever’s global venture capital arm)
FIGHT%20CARD
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Where to submit a sample
Volunteers of all ages can submit DNA samples at centres across Abu Dhabi, including: Abu Dhabi National Exhibition Centre (Adnec), Biogenix Labs in Masdar City, NMC Royal Hospital in Khalifa City, NMC Royal Medical Centre, Abu Dhabi, NMC Royal Women's Hospital, Bareen International Hospital, Al Towayya in Al Ain, NMC Specialty Hospital, Al Ain
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
Company%20Profile
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UAE currency: the story behind the money in your pockets
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
COMPANY%20PROFILE
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The%20specs%3A%202024%20Mercedes%20E200
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Scores in brief:
- New Medical Centre 129-5 in 17 overs bt Zayed Cricket Academy 125-6 in 20 overs.
- William Hare Abu Dhabi Gymkhana 188-8 in 20 overs bt One Stop Tourism 184-8 in 20 overs
- Alubond Tigers 138-7 in 20 overs bt United Bank Limited 132-7 in 20 overs
- Multiplex 142-6 in 17 overs bt Xconcepts Automobili 140 all out in 20 overs
Israel Palestine on Swedish TV 1958-1989
Director: Goran Hugo Olsson
Rating: 5/5
BORDERLANDS
Starring: Cate Blanchett, Kevin Hart, Jamie Lee Curtis
Director: Eli Roth
Rating: 0/5
The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
COMPANY%20PROFILE
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The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
A timeline of the Historical Dictionary of the Arabic Language
- 2018: Formal work begins
- November 2021: First 17 volumes launched
- November 2022: Additional 19 volumes released
- October 2023: Another 31 volumes released
- November 2024: All 127 volumes completed
Know your Camel lingo
The bairaq is a competition for the best herd of 50 camels, named for the banner its winner takes home
Namoos - a word of congratulations reserved for falconry competitions, camel races and camel pageants. It best translates as 'the pride of victory' - and for competitors, it is priceless
Asayel camels - sleek, short-haired hound-like racers
Majahim - chocolate-brown camels that can grow to weigh two tonnes. They were only valued for milk until camel pageantry took off in the 1990s
Millions Street - the thoroughfare where camels are led and where white 4x4s throng throughout the festival
Nayanthara: Beyond The Fairy Tale
Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni
Director: Amith Krishnan
Rating: 3.5/5
UAE currency: the story behind the money in your pockets
Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
