theceomagazine.com | 10317 years ago. “The fly-and-flop mentality – getting on a
plane and flopping on a Maldivian island – has evolved
to a more mindful, experiential, discovery process. It is
actually fundamental to people who are successful and
now want to give back to a community in which they
are travelling, or assist that community in some way by
influencing it through experiences.”
By way of example, Simpson mentions one of his
clients who has built a purpose-specific yacht that
operates not only for personal use but also as a fully
staffed marine research vessel. Rather than simply
holidaying in the Great Barrier Reef and commenting
on its environmental issues, this affluent client spends
up to six months at sea analysing the data around the
deterioration of the reef and feeding it back to the
global research community.
“There are endless examples of this sort of thing
where people aren’t simply going to a destination to
take some beautiful pictures for Instagram, but are
getting involved because they have the resources and
wherewithal to do so,” says Simpson.
Quintessentially has noticed a deeper social
consciousness in general among its younger members,
which reflects growing concerns around giving back
and philanthropy. Simpson attributes the fundamental
shift in what people value to the global financial crisis in
- “It woke everybody up to the fact that the age
of bling, showing your wealth and being crass has died
off,” he says. “In many ways, the philanthropic gene has
kicked in since 2008. The creation of wealth has
reached the point where one has to give back because
too much is too much. And it’s a self-fulfilling prophecy
because these clients realise that, ultimately, they can
change things – and be more effective and much faster
than governments at changing things – and they have
the resources and business logic to do it.
“While a lot of people are now taking on more
global problems, big-ticket items, most of our clients
don’t operate at that level – but they do operate at the
level where they are taking care of certain projects and
travelling for that purpose.”
The Boston Consulting Group (BCG) noted a
post-recession shift towards valuing experiences over
material goods in its 2010 report ‘The New World of
Luxury’. According to BCG, the global market for
luxury was close to €1 trillion, of which €340 billion
was spent on travel and accommodation, alcohol and
food, and other (encompassing spas and clubs, for
example). From its research, BCG pointed out that in
the 90s and early 2000s, consumers in the aspirational
mass market, the rising middle class, and the new-
money households viewed luxury items as status
symbols. But after the GFC, many of these consumers
began to question not only why they purchased luxury
goods but also the value they placed on such items.
“Once you have all the material trappings in your
life figured out, you also find yourself with more time
and space to think about what you wish to focus on.
It doesn’t take very long to realise that more holidays or
material possessions won’t necessarily bring you the
fulfilment you really need,” says Seppälä. “Mindfulness
is one way that people start to explore the deeper
aspects of their life: contemplation, wisdom, self-
awareness and spirituality.
“We know from research that our deepest
fulfilment comes from compassion, altruism, kindness,
meaning, purpose and transcendence – focusing on
something bigger than oneself.”
Experiential holidays and being more self-aware
are all well and good, but when the wholesome pursuits
of mindfulness and philanthropy become trendy (and
‘for show’), are they detrimental to the good they
perpetuate? Thich Nhat Hanh, considered to be the
father of mindfulness, says there are positive benefits
of mindfulness, no matter what the intention. True
mindfulness practice changes our perspective on life,
leads to greater compassion, and naturally develops
our desire to end the suffering of others, he says.
Ultimately, it’s not a bad thing. As Seppälä points
out: “Philanthropic pursuits have been status symbols
for a very long time. Some people engage in
philanthropy for name recognition alone, but many
others do so out of compassion. At the end of the day,
the way I see it – and the way an economist would see it- is that it really doesn’t matter. If you’ve benefited
other people, that is all that matters.”
Besides which, she adds, research indicates that
people who carry out altruistic actions with only
themselves in mind aren’t going to enjoy the same
feelings of fulfilment and happiness as those who
genuinely care. “It is ironic but true that only selfless
kindness reaps these more selfish benefits.”
Self-improvement | INVEST