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Europe faces significant demographic challenges due to an aging population and the need for a more inclusive workforce. This report outlines five key strategies for renewal: promoting family-friendly workplaces, embracing flexicurity, fostering innovation, integrating immigrants, and ensuring generational equity. The document examines labor market dynamics, emphasizing the importance of smart youth employment initiatives and real estate market trends. With rising immigration and youth unemployment rates, it highlights the necessity for inclusive policies and effective integration strategies to build a sustainable social safety net for all.
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EU Demographics • Old and aging • 5 keys for renewal: • Family-friendly workplaces • Flexicurity • Innovative , dynamic business environment • Integration of immigrants • sustainable social net and generational equity
Moderates projected labor shortages, but not the solution • First challenges are integration, acceptance • Stuck in low paying jobs • Alienation, disaffection impacts 2nd and 3rd generations Immigration
Lisbon Strategy: integrate young workers, keep older workers employed • Flexicurity—protect the worker, not the job • 4 priorities: • Research and innovation • Invest in people • Unlock business potential • Energy and climate change Employment
First rung on the career ladder is hard to reach • High school drop-out rates (double U.S. rate) • Good paying jobs for young workers = more demand for homes • Vibrant economies draw foreign investment Youth Employment
Smart • Innovation Union • Youth on the Move • Digital Agenda • Sustainable • Resource-Efficient Europe • Policy for the Globalization • Inclusive • New skills and jobs • Platform against poverty Europe 2020 Roadmap for recovery and progress
Residential Real Estate • Real estate bubbles follow “horseshoe” around Europe • Spain and Ireland rapid price appreciation • 2006, more housing units were under construction in Spain than in Germany, France, Italy, and the U.K. combined • Huge oversupply in some markets
Few Foreclosures • Social support systems for unemployed • Job security • less excess inventory • Few low-income home buyer initiatives • Tough penalties for loan default
Homeownership • Overall EU homeownership rate: 70% • Except Germany • High rates in former communist countries due to privatization
Signs of fragile recoveries • Relatively brief crash • No market meltdown • Some quick recoveries • “Normal” won’t be like boom times • Little new construction • Localized supply gluts • Worst performers: Ireland, Spain, East/Central Europe, Greece, Mediterranean RICS, 2009European Housing Review 8 Market Projections
FDI Outward FDI Inward
Why You Need to Know • Your own property • Regulation of real estate profession • Business environment • Professional Services Directive • Integrated transaction procedures and processes • Ability to establish a business • Common Frame of Reference • Search for tax revenues • Consumer protection legislation • Subsidiarity and proportionality • Sustainability initiatives • Focus on remodeling and retrofitting
Build Your Network • NAR’s Cooperating Associations • Presidents Liaisons • Networking Information System
NAR Annual Expo and Convention • Barcelona Meeting Point • CEREAN Conference • Expo Real • FIABCI World Congress • MIPIM Europe • RECon • SIMA • More…….. Expos & Events