Word: market
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This network reached a quarter of a million students through the Internet, which was 5% of the online market at the time, and newspaper publications ran for 11 weeks and reached 13 million readers. SitesALIVE! was the first online interactive learning experience at the time of its creation...
Hong Kong may be better known for its char siu bao than its chardonnay, but the wealthy city is making a surprising bid to become one of the world's most important markets for fine wines. Last weekend marked another milestone: In the second of its two major wine auctions held this year in Hong Kong, Sotheby's on Oct. 3 and 4 sold $7.9 million worth of vintage wines, taking the house's total wines sales in Hong Kong to $14.3 million in 2009 - eclipsing its sales totals of $10.5 million in New York and $8 million in London...
...world's stock of fine wines. But most of that stash - the largest in the world on a per capita basis - has been stored abroad because the city charged an onerous duty on imported wines that at one point reached as high as 80%. Then, two years ago, the market really began to flourish when the government scrapped all wine and spirits duties. To encourage the creation of a local wine industry, authorities also abolished most of the paperwork surrounding wine imports, and importers were allowed to have customs inspections inside wine cellars, saving delicate vintages from examination...
...more Hong Kong residents began taking an interest in drinking wine, not just investing in it. Said noted wine critic Jancis Robinson, editor of The Oxford Companion to Wine: "I have never before, in my 30-plus years in wine, witnessed a government so consciously targeting the fine-wine market." (Watch Joel Stein drink his way through wine from ten different U.S. states...
...There's a major commercial prize at stake. Hong Kong would like to become a wine center for Asia. With half the world's population, Asia accounts for only 7% of total wine consumption, so the market has plenty of room to grow. With zero tariffs and world-class logistics, Hong Kong hopes to become the main entrepot for Asia's wine trade and headquarters for the region's wine experts and merchants...