Blog Archive: December 2023
Minimum Wages Set to Increase in Baltic States in 2024
| Macroeconomics | 120 seen
As we usher in the new year, significant changes are on the horizon for the Baltic states, particularly in the realm of minimum wage. In 2024, Estonia, Latvia, and Lithuania are all set to witness an increase in their minimum wage, signifying a shift in economic dynamics. Let's delve into the details of these changes and their potential impact.
In 2024 minimum wage is set to increase in all Baltic states. Estonia will have a minimum wage of EUR 820; Latvia - EUR 700 and Lithuania - EUR 924.
Estonia, a key player in the Baltic region, is slated to implement a notable increase in its minimum wage. Starting from 2024, the minimum wage is set to rise to EUR 820. This move reflects Estonia's commitment to addressing economic disparities and ensuring a fair standard of living for its workforce.
Across the border in Latvia, the minimum wage is poised to see an increase as well, reaching EUR 700 in 2024. This adjustment comes in response to various factors, including inflation rates and the cost of living, aiming to uplift the financial well-being of workers in the country.
Meanwhile, Lithuania, another significant player in the Baltic economic landscape, will witness its minimum wage rise to EUR 924 in 2024. This upward adjustment is part of Lithuania's ongoing efforts to align wage levels with the evolving economic landscape and to provide a better livelihood for its citizens.
The increase in minimum wages across the Baltic states is expected to have a positive impact on the workforce. With higher minimum wages, employees are likely to experience an improvement in their standard of living, enabling them to meet the rising costs of daily necessities.
While the move towards higher minimum wages is laudable from a social perspective, it also raises questions about potential economic implications. Businesses, particularly small and medium enterprises, may face challenges in adjusting to the increased labor costs. Striking a balance between fair wages and economic sustainability will be a crucial task for policymakers.
As we step into 2024, the Baltic states are set to undergo significant changes in their minimum wage structures. Estonia, Latvia, and Lithuania's commitment to improving the living standards of their citizens is evident in these adjustments. While the move is expected to benefit the workforce, it also prompts a careful consideration of its broader economic implications. As these changes unfold, it will be interesting to observe how businesses, policymakers, and the workforce adapt to this economic shift in the Baltic region.
Now, let's see if I'll be able to take at least the Latvian minimum wage from the growing TerraMatris crypto hedge fund by the end of 2024.
Postcards from Ushguli
| | 67 seen
Ushguli is a community of five villages located at the head of the Enguri gorge in Svaneti, Georgia.
Ushguli is one of the highest continuously inhabited settlements in Europe. Compared to somewhat more developed towns like Mestia, Ushguli is not in an accessible location, which has preserved many of the villages' medieval characteristics, including unique defensive tower houses called Svan towers. Because of their preservation and traditional architecture, Ushguli, Mestia, and the surrounding area was recognized as the Upper Svaneti UNESCO World Heritage Site in 1996.
I had a chance to visit Ushguli for a few hour visit back in September 2023, during which I made some amazing drone photography (I was so inspired that order photo prints for our office walls in Tbilisi)
We traveled to Ushguli by a 4x4 car, back in the days there was just a dirt road, but in recent yeras major improvemtn has been made, and currently there was about.6km unpaved dirt road. I would say quite accesible location.
The famous Swan towers of Ushguli
Ushguli is located at an altitude of 2,100 metres (6,900 ft) near the foot of Shkhara, one of the highest summits of the Greater Caucasus mountains. About 70 families (about 200 people) live in the area, enough to support a small school. The area is snow-covered for 6 months of the year, and often the road to Mestia is impassable.
We found a nice cafe near the river, order some wine and I went exploring Ushguli with the help of drone.
Latter we decided to return to Racha via Lentekhi and took some of the most spectacualr rides.
The most notable feature of the villages in Ushguli are the defensive tower houses found throughout the community. These houses are between 3-5 stories tall were built primarily between the 9th and 12th centuries. Although many of the towers in the lower towns such as Mestia have fallen into disrepair, the isolation of Ushguli has preserved the towers. Chazhashi, one of the villages within the community, contains over 200 of these towers and has been preserved as a Museum-Reserve
Our returning road to Tbilisi, via Kutaisi and via Lentekhi. Spectacular. We didnt met any car for about 2 hours.
If there is a reason to visit Georgia, then Ushguli and region of Svaneti should be a top of your priorities.
Westminster Abbey
| Tourism objects | 31 seen
Westminster Abbey, formally titled the Collegiate Church of Saint Peter at Westminster, is an Anglican church in the City of Westminster, London, England. Since 1066, it has been the location of the coronations of 40 English and British monarchs, and a burial site for 18 English, Scottish, and British monarchs. At least 16 royal weddings have taken place at the abbey since 1100.
I had a chance to visit the famous Abbey at the start of August 2023, during my birthday trip to London
Although the origins of the church are obscure, there was certainly an abbey operating on the site by the mid-10th century housing Benedictine monks. The church got its first grand building in the 1060s under the auspices of the English king Edward the Confessor, who is buried inside. Construction of the present church began in 1245 on the orders of Henry III. The monastery was dissolved in 1559 and the church was made a royal peculiar—a Church of England church responsible directly to the sovereign—by Elizabeth I. In 1987, the abbey, together with the Palace of Westminster and St. Margaret's Church, was designated a UNESCO World Heritage site because of its historic and symbolic significance.
Although historians agree that there was a monastery dedicated to St. Peter on the site prior to the 11th century, its exact origin is somewhat obscure. One legend claims that it was founded by the Saxon King of Essex Sæberht, and another that its founder was the fictional 2nd-century British king Lucius.
One tradition claims that a young fisherman on the River Thames had a vision of Saint Peter near the site. This seems to have been quoted as the origin of the salmon that Thames fishermen offered to the abbey, a custom still observed annually by the Fishmongers' Company.
The origins of the abbey are generally thought to date to c.960, when Saint Dunstan and King Edgar installed a community of Benedictine monks on the site.
At that time, the location was an island in the middle of the River Thames called Thorn Ey. The buildings from this time would have been wooden, and have not survived.
Tower of Love in Svaneti
| Tourism objects | 50 seen
As you make your way from Mestia to Ushguli, one of the highest settlements in Europe, look out for the “Tower of Love”, which stands on a huge boulder in the river Enguri.
This three-story tower has high floors that are connected with one another by vertical stairs, although you should be especially careful when climbing them. The thick walls of the tower have stood for centuries and are likely to stand for many more.
We forst discovered this tower at the end of September 2023, during our few day trip to Svaneti. We were asked GEL 2 for entrance and were actaully allowed to climb up the tower. I decided not to climb but filmed with a drone.
The root of the tower’s name lies in local legend. Once upon a time, Miaguli Pirveli, a beautiful woman, met a skilled hunter called Otia Margvelani during the Kvirikoba festival. They fell in love, but Otia was married and had five children, while Miaguli did not want to ruin her beloved’s family.
Saddened by this story, Otia went hunting, fell into the river and died. His wife could not bear the pain of her husband’s death and jumped into the Enguri river as well. According to the legend, the husband and wife turned into trout. Miaguli asked her father to build a tower on the boulder, where she lived till the end of her life, feeding the fishes every day.
Once the water level in Enguri decreases, a pure spring appears from the bottom of the boulder, which is said to be Miaguli’s tears.
If you happen to be in the area, make sure to make a stop, climp up the tower or buy some goodies at the kiosk in front of it.
Big Ben
| Tourism objects | 52 seen
The Elizabeth Tower is the clock tower of the Palace of Westminster in London, England. It contains the Great Clock, a striking clock with five bells. The tower is nicknamed "Big Ben", a name which was originally applied only to the largest bell of the clock.
The tower was officially called the Clock Tower until 2012, when it was renamed to mark the Diamond Jubilee of Elizabeth II.
Probably one of the most recognizable tourist attractions around the World. I first had a chance to visit it, in August 2023, during my birthday trip to London.
The tower was designed by Augustus Pugin in a Perpendicular Gothic Revival style and was completed in 1859. It is elaborately decorated and includes symbols related to the four nations of the United Kingdom, the Tudor dynasty, and a Latin inscription to Queen Victoria.
The tower stands 316 feet (96 m) tall, and the climb from ground level to the belfry is 334 steps. Its base is square, measuring 40 feet (12 m) on each side. The dials of the clock are 22.5 feet (6.9 m) in diameter.
Elizabeth Tower, originally named the Clock Tower, and popularly known as "Big Ben", was built as a part of Charles Barry's design for a new Palace of Westminster after the old palace was largely destroyed by fire on 16 October 1834.
Although Barry was the chief architect of the neo-gothic palace, he turned to Augustus Pugin for the design of the Clock Tower, which resembles earlier Pugin designs, including one for Scarisbrick Hall in Lancashire.
Construction of the tower began on 28 September 1843. The building contractors were Thomas Grissell and Morton Peto. An inscribed trowel now in the Parliamentary Archives records that Emily, sister of Peto's daughter-in-law, was given the honour of laying the first stone.
It was Pugin's last design before his descent into mental illness and death in 1852, and Pugin himself wrote, at the time of Barry's last visit to him to collect the drawings: "I never worked so hard in my life for Mr Barry for tomorrow I render all my designs for finishing his bell tower and it is beautiful".
The Elizabeth Tower is a British cultural icon. It is one of the most prominent symbols of the United Kingdom and parliamentary democracy, and it is often used in the establishing shot of films set in London. The clock tower has been part of a Grade I listed building since 1970 and a UNESCO World Heritage Site since 1987. The fabric was repaired and renovated between 2017 and 2021, during which the bells remained silent with few exceptions.
KidZania London
| Entertainment | 26 seen
KidZania London is a unique learning and entertainment experience filled with ultra-realistic role-play activities designed to mirror real-world careers. Their unique blend of education and entertainment aims to boost confidence, and independence and empower children to make a difference early on in life.
KidZania London is located at the Westfield London shopping mall (Ariel Way Shepherds Bush LONDON W12 7GF).
It took us about 1-hour taxi drive by Botl from our hotel at White Chappel to reach this place at the start of August 2023.
Join Kidzania to unleash your child's full potential in a world of hands-on discovery, learning and fun (and all without their phones or devices), and children aged 8+ are welcome to explore without an accompanying adult for that added sense of freedom and autonomy!
As our kiddo during our visit was 5 year old, one parent had to stay with her during the activities. Mom stayed, while daddy explored shopping mall.
Kids got involved into flying an airplane, paramdecis, police, banks, shops and even firefighters.
About KidZania
We're a learning and education centre for children to explore their interests, develop essential skills and cultivate social responsibility in immersive activities that mirror the real world, such as being a doctor, firefighter or radio host. Each realistic experience is designed to challenge children’s decision-making skills, boost their practical learning and feel a real sense of achievement.
Our mission extends beyond our scaled city in London. Not only will you find KidZania in almost 30 locations worldwide, we also encourage children to apply their learnings outside KidZania, becoming active global ‘CitiZens’ who contribute positively to their communities, believing in the right to ‘be, know, create, share, care and play’; values brought to life through our RightZKeepers.
Enguri Dam
| Tourism objects | 91 seen
The Enguri Dam is a hydroelectric dam on the Enguri River in Tsalenjikha, Georgia. Currently, it is the world's second-highest concrete arch dam with a height of 271.5 meters (891 ft).
It is located north of the town of Jvari. It is part of the Enguri Hydroelectric Power Station (HES) which is partially located in Abkhazia. In the past, I had heard about this damn but didn't expect I will actually visit it during our few-day trip to Svaneti at the end of September 2023.
Construction of the Enguri dam began in 1961. The dam became temporarily operational in 1978, and was completed in 1987. In 1994, the dam was inspected by engineers of Hydro-Québec, who found that the dam was "in a rare state of dilapidation". In 1999, the European Commission granted €9.4 million to Georgia for urgent repairs at the Enguri HES, including replacing the stoplog at the arch dam on the Georgian side and, refurbishing one of the five generators of the power station at the Abkhaz side.
In total, €116 million loans were granted by the EBRD, the European Union, the Japanese Government, KfW and Government of Georgia. In 2011 the European Investment Bank (EIB) loaned €20 million in order to complete the rehabilitation of the Enguri hydropower plant and to ensure safe water evacuation towards the Black Sea at the Vardnili hydropower cascade.
While the arch dam is located on the Georgian controlled territory in Upper Svanetia, the power station is located in the Gali District of breakaway Abkhazia. Enguri HES has 20 turbines with a nominal capacity of 66 MW each, resulting in a total capacity of 1,320 MW. Its average annual capacity is 3.8 TWh, which is approximately 46% of the total electricity supply in Georgia as of 2007. According to the 1992 agreement Abkhazia gets 40% and the rest of Georgia gets 60%, however in the late 2010s the Abkhazian consumption increased significantly driven in part by bitcoin mining.
The facility's arched dam, located at the town of Jvari, was inscribed in the list of cultural heritage of Georgia in 2015.