Travel/Tourism
Interest for Trump’s $5m Golden Visa Dwindles
The latest analysis from Astons reveals that online search interest in Donald Trump’s US Gold Card has rapidly dwindled in the days following the President’s announcement, while interest in European Golden Visa programmes has remained steadfast.
The US President has announced plans to introduce a “Gold Card” visa scheme through which he hopes wealthy foreigners will invest at least $5m in the US economy in exchange for what Trump calls “Green Card privileges“.
Astons has analysed global Google search trend data* for terms related to Golden Visas in the days and weeks following Trump’s announcement and found that while there was an initial flurry in search interest, this quickly dwindled. And even at its peak, it never surpassed the interest garnered by the Golden Visa programmes offered by Spain and Greece.
In the 10 days immediately following Trump’s Gold Card announcement, the online search interest score for the term ‘US golden visa’ averaged out at 27.90. Meanwhile, the term ‘US gold card’ scored 24.10, while ‘Trump golden visa’ scored 22.20.
During the same time frame, search interest in European Golden Visas was significantly stronger. ‘Spain golden visa’ scored 38.90, while interest in ‘Greece golden visa’ was scored at 36.50.
However, after this initial 10 days following the announcement, interest in Trump’s offering rapidly decline, as during the subsequent 10-day period, search interest in ‘US gold card’ fell by -82.6%, interest in ‘Trump golden visa’ fell by -76.1%, and interest in ‘US golden visa’ fell by -55.6%.
At the same time, interest in European golden visa programmes remained steadfast.
In fact, interest in ‘Greece golden visa’ increased by +1.1%, while interest in ‘Spain golden visa’ remained unchanged at 38.90.
Astons Business Development Director and Head of Astons Cyprus Office, Denis Kravchenko, commented:
“Donald Trump’s plan to introduce what is essentially a residency by investment program that, apparently, provides a quick path for citizenship to the US has understandably generated a surge in interest and speculation. But the $5m price tag is likely going to be far too high to result in a large enough level of uptake for it to reduce the US’s national debt as it is intended to do.
It is also possible that this new programme could become more popular than America’s existing EB-5 visa programme which already offers green cards to those who are willing to invest between $800,000–$1m into the US economy, so doubts around investors now being willing to pay a substantially higher price for residency are well-founded.
Should Trump decide to scrap the EB-5, one of the world’s oldest residency by investment programmes having been introduced by President George H. W. Bush under the Immigration Act of 1990, it will be all the more surprising given that 2024 saw 5,000 applications for the programme, marking an annual uplift of 85%.
It remains unclear whether Trump’s program will offer any substantial advantages—such as expedited processing – currently, the EB-5 path to a green card takes between one and ten years depending on nationality with the absence of stringent background checks—to motivate investors to commit more funds.
Trump may face further challenges due to there being other countries in the world that offer far more accessible programmes. Investors can, for example, qualify for Maltese citizenship through exceptional naturalisation for an investment of around 1 million euros, for which an investor can obtain citizenship to an EU member state in an average of 1.5 years without the need for permanent relocation.
Then there are the multitude of European Golden Visa programmes that are also far more budget-friendly than Trump’s new initiative. Hungary launched a new residency program in summer 2024, requiring a minimum investment of at least 250,000 euros, and Portugal’s offer starts at a minimum investment of 500,000 euros.
However, it’s Greece’s Golden Visa opportunities that are proving most popular of all,
Despite the entry investment threshold recently being raised, it is still possible to obtain residency by purchasing property for just 250,000 euros. Somewhat ironically, it’s young Americans who are driving the recent surge in demand for Greek Golden Visas which, in 2024, set a record, issuing 17,194 visas (based on 11 months of data).”
Travel/Tourism
Verve, Providus Bank Unveil Travel Card for Tourists, Others
By Aduragbemi Omiyale
A travel card designed for tourists, business visitors, Diaspora returnees has been launched by Verve in partnership with Providus Bank.
Known as the ProvidusVerve Travel Card, the Naira-based travel card will allow inbound travellers to enjoy a smooth, secure, and convenient payment experience throughout their stay in Nigeria. It was powered by Verve’s secure.
Created to support the surge of tourists, expatriates, business visitors, conference delegates, and returning diaspora expected during the festive Detty December season, the ProvidusVerve Travel Card enables seamless payments for transportation, hotels, dining, shopping, entertainment, and everyday essentials nationwide.
The card also works on select global merchant platforms that accept Verve, including Netflix, Google Play, and other digital services, ensuring travellers enjoy uninterrupted access to familiar services.
The ProvidusVerve Travel Card eliminates the hassle of sourcing naira or converting foreign currency on arrival. It enables instant, secure transactions, reduces reliance on cash, and supports compliance with the cashless policy of the Central Bank of Nigeria (CBN).
It also mitigates the risks associated with carrying physical cash such as loss, theft, or fraud, offering a safe, regulation-aligned option for both online and in-person payments.
“The ProvidusVerve Travel Card is a timely solution for inbound travellers seeking reliability, security, and simplicity while navigating Nigeria.
“Together with Providus Bank, we have created a product that eliminates the friction traditionally associated with accessing local payments.
“Whether for tourism, business, or festive activities, this card ensures a smooth financial experience from the moment visitors land,” the Vice President for Issuing and Acquiring Management for Africa at Verve International, Mr Paul Ohakim, stated.
On his part, the Divisional Head for Product Management and Solution Delivery at Interswitch, Mr Ademola Adeniran, described the partnership as a reflection of “Verve’s commitment to designing products that respond to real user needs.”
“The ProvidusVerve Travel Card supports everyday experiences — from booking rides and hotels to shopping, streaming, and dining. It provides inbound travellers with a secure, compliant, digital-first way to experience Nigeria without financial barriers,” he added.
Travel/Tourism
FG May Sell Dana Air Assets to Repay Debts
By Adedapo Adesanya
The Minister of Aviation and Aerospace Development, Mr Festus Keyamo, has disclosed that the federal government may recover and sell the assets of Dana Air to refund passengers and travel agents whose funds remain trapped following the suspension of the airline’s operations.
The Minister disclosed this in Abuja on Tuesday at the Ministry’s fourth quarter stakeholders’ engagement to enhance governance for effective service delivery in aviation.
Speaking at the event themed “leveraging public feedback to drive excellence in aviation services, the Nigeria Civil Aviation Authority (NCAA) will be directed to probe why funds trapped by the airline are yet to be refunded.
He revealed that the authority suspended the operations of the airline as a matter of choice between safety and disaster.
“For Dana, the problem is that it was a choice between safety and disaster. So we didn’t take the commercial thing as priority. The priority was safety, and we all looked at the damning reports that we had met on the table.
“It was a decision of the NCAA to suspend them, but I pushed them to say, look, these are the reports we are seeing on the table about safety record, about lack of standards that put the lives of Nigerians at risk. If they continue flying, I don’t know whether most of us will be here. Many of us would have been victims of one of those flights. God forbid.”
According to him, “I have asked Najomo (NCAA director general) to dig deep to find out how those passengers and agents will be refunded. He has to dig deep on that.
“One solution will also be that if that same individual or those entities are trying to come back to aviation under any guise, whether to go and register a new AOC or use any business within the aviation sector, they have to go and settle their debts first.
“We should look at their assets. There are assets that are still available. Let them sell their assets. Let’s cannibalize their revenue and pay people. Let’s find a way to go after their assets and get money to pay Nigerians who are owed.
“NCAA should do that because they can’t get away with it.”
Travel/Tourism
NCAA Slams N5m Consumer Protection Infraction Fine on Qatar Airways
By Adedapo Adesanya
The Nigerian Civil Aviation Authority (NCAA) said it has imposed a N5 million penalty on Qatar Airways for consumer protection violations.
The announcement was made on Wednesday by the NCAA’s Director of Public Affairs & Consumer Protection, Mr Michael Achimugu, on X, adding that there may be other sanctions depending on how the airline treats other cases.
“Glad to announce that, today, the NCAA has sanctioned @qatarairways to the tune of five million naira being penalty for consumer protection-related infractions. In addition, the letters of investigation (LOI) written to the airline over other cases may lead to further sanctions if not treated satisfactorily,” Mr Achimugu wrote.
The fine followed an incident when a Nigerian passenger was accused by a Qatar Airways cabin crew member of sexual harassment during boarding in Lagos for a flight to the United States via Doha, Qatar.
The allegation was only reported in Doha, where the passenger was arrested, detained for 18 hours, fined, and compelled to sign a document written solely in Arabic.
Qatar Airways allegedly refused to continue his journey, forcing him to purchase another ticket at considerable financial and reputational cost.
The NCAA said it invited Qatar Airways’ country manager to a meeting over the incident, but he failed to attend, sending subordinates instead.
“I understand that some countries do not have advanced aviation consumer protection regulations like Nigeria does. In certain cases, some countries don’t even have any. This creates a situation where airlines operating out of those countries (mostly national carriers) act with disdain towards consumer protection enforcement in Nigeria.
“This is not a situation that we would accept here. It is against the law for ANY Airlines not to respond to the NCAA. It is against the law to provide false information to the NCAA. It is against the law to fail to comply with the provisions of Part 19 of the NCAA Regulations 2023,” Mr Achimugu said in an earlier post.
In September, the NCAA accused Qatar Airways of mistreating Nigerian passengers and failing to comply with consumer protection regulations under Part 19 of the NCAA Regulations 2023.
The regulator then threatened stiff penalties against the airline for repeatedly disregarding its directives.
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