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Paul Almeida: My European Favourites in 5 – 4 – 3 – 2 – 1!
Salzburg, Austria by Paul Almeida
Salzburg is one of my favourite mid-sized cities in Europe and Austria’s fourth largest city, with only about 150,000 residents. Geographically, it lies at the foot of the Eastern Alps, close to the German border and is bisected by the Salzach River. The compact old town, with medieval and baroque architecture is classified as a UNESCO World Heritage Site and is easy to explore on foot. Salzburg is visited annually by millions of tourists from around the world and our Azorcan tour groups often list it as a favourite stop.
Salzburg, Austria
5 FUN FACTS
Salzburg literally means “Salt Fortress.” The reigning Prince-Archbishops, the city and the region became wealthy mainly from the salt mines in the area, trade and some gold mining. Don’t miss the opportunity to visit a salt mine in the area to learn more about the extraction of the “white gold.”
The 11th century Hohensalzburg is one of the largest and best preserved medieval fortresses in Europe. You can walk up the path to the fortress or you can take the Festungsbahn funicular railway located just off the Kapitelplatz. From the fortress, you can enjoy some of the best views of the city and the surrounding area.
Composer Wolfgang Amadeus Mozart was born on January 27, 1756 in Salzburg, and you can visit his birthplace which is also a museum. You can’t miss the bright yellow building at No. 9 Getreidegasse with “Mozart’s Gebursthaus” in gold letters on the façade. The Getreidegasse is a pedestrian street with shops and restaurants. The ornamental wrought iron signs on the building facades harken back to medieval times. The Schlosserei Wieber shop on the Getreidegasse is a traditional metalworking shop that also continues to make these signs. The city celebrates Mozart Week festival in January around his birthday. A friend once joked that “Mozart was my favourite composer, now he’s my favourite decomposer.”
Hohensalzburg Fortress, Mozart’s Gebursthaus and the metal signs on the Getreidegasse
The famous Salzburg Festival, established in 1920 and which features some of Mozart’s works, is held each summer for five weeks starting in late July. With approximately two hundred drama, concert, and opera events and a quarter of a million visitors, it is a huge undertaking and an important driver of the local economy. The festival celebrated its 200th anniversary in 2020 but unfortunately plans had to be scaled back due to the corona virus pandemic.
The Rodgers and Hammerstein musical, “The Sound of Music,” about the Von Trapp family was set in Salzburg and movie fans love to search out film locations in the city.
Some of the most popular places to seek out are St. Peter’s cemetery, the Mirabell Palace and gardens with the Pegasus fountain, the Horse Pond, the Residence Square with it’s baroque fountain, Schloss Leopoldskron and the Nonnberg Abbey. The Rock Riding School, which was initially built to be a cathedral but was changed to a riding school by the Prince-Archbishop, later became Salzburg’s favourite concert venue. This is where the real Von Trapp family won the 1936 Salzburg Music Festival. There are other film locations located in the surrounding areas and there are tours that focus on the Von Trapp’s and the movie.
Mirabell Gardens, Makartsteg Bridge and the view of the old town from the Mochsberg
4 POINTS OF INTEREST
A walking tour of Salzburg usually starts at the Mirabell Palace gardens. The Palace was built by a Prince-Archbishop in 1606 and has a grand marble hall that is popular for weddings. The view from the palace’s gardens to the Hohensalzburg fortress in the summer when the geometrically laid flowers are in bloom is amazing. The Grand Fountain in the centre of the garden with four mythological statues representing the elements (Fire, Air, Earth, Water), the Dwarf Garden, and the Pegasus Fountain are popular photo stops. The best way to cross the Salzach river to the old town from the Mirabell gardens is the pedestrian Makartsteg Bridge which is usually adorned with numerous “love locks.” The locks are inscribed with the lovers initials, attached to the fencing and the key thrown into the Salzach.
As you cross the river to the old town (Altstadt), go to the right and you will find the Monchsberg lift which takes you up to the Museum of Modern Art (Museum der Moderne). The café at the museum is a great place to have a cappuccino and cheese strudel as you admire the view of the old town. The Monchsberg, which was named after the Benedictine monks, is one of five mountains or hills in Salzburg. The Monchsberg plateau has a hiking path through the forest that you can take and enjoy scenic views all the way to the Hohensalzburg fortress. The city has a mountain inspector’s office (Bergputzer) to check the mountain for possible falling rocks. In 1669, an avalanche of rock landed on the city below and killed over 200 people.
On the University Square (Universitatplatz), you will find the Grünmarkt or green
Market that goes back to the 18th century. The farmers market still has vendors selling fruit, vegetables, cheeses, meats, breads and pastries. It’s a great place to sample local products, or grab a quick lunch or a pretzel. The Kollegienkirche or University church dominates the square, and there are several historic buildings surrounding the lively square.
Pretzel kiosk on University Square, Residence Square and the Salzburg Cathedral>
A short walk from the University Square will take you past the Alter Markt square with the St. Florian Fountain and into the expansive Residence Square (Residenzplatz). The square has a magnificent baroque fountain decorated with four horses snorting water, giants, dolphins and a triton. Here is where you can find horse drawn carriages to enjoy the city centre at a leisurely pace. The Residence museum on the square is a testament to the immense wealth and political power of the Prince-Archbishop’s of Salzburg. The lavish state rooms and painting collection make it a top attraction. The 17th century baroque Salzburg Cathedral or Dom on the square is connected to the Residence. The Cathedral has religious relics of St. Rupert, an impressive pipe organ, plus an ornate ceiling and dome. The baptismal font is the same one used to baptize Mozart.
3 INTERESTING ACTIVITIES
To fully understand the significance of salt to the fortunes of Salzburg take a short trip to the Salzbergwerk Dürrnberg, which is located on the Dürrnberg above the town of Hallein. After supplying you with miner’s overalls, you will go by rail deep into the mountain where you will walk through the tunnels, go down two long slides and take a raft trip across an underground salt lake. The very informative tour explains the history of the mine from the age of the Celts to modern mining methods. After the tour be sure to visit the SALINA Celtic village to see how life was 2,600 years ago.
The Red Bull Hanger 7 at the Salzburg Airport is an impressive glass structure that houses the Flying Bulls historical airplane and helicopter fleet plus a collection of Formula 1 race cars. Austrian Red Bull founder and billionaire Dietrich Mateschitz is the owner of the hanger and the collection. If you like cars or planes, this is a must stop when you visit Salzburg or have a layover at the airport.
Going into the Salt Mine, a Red Bull concept race car and inside the Hanger 7
The imposing 900 year old medieval Hohenwerfen Castle, surrounded by the Berchtesgaden Alps, is located about 40 km south of Salzburg and overlooks the town of Werfen. A funicular takes you from the parking area up to the castle’s interior courtyard. The castle has an extensive weapons exhibit. The main event is a birds of prey demonstration from the Salzburg Falconry Center in the exterior courtyard with falcons, kites, vultures, and eagles. Some of these birds are huge and have no problem walking amongst the spectators. Be sure to check the daily times of the demonstrations in advance.
The impressive Hohenwerfen Castle, the courtyard and a large eagle
2 LOCAL DISHES TO ORDER
Tafelspitz is a popular Austrian dish of veal and vegetables that is simmered slowly. The broth is served separately as a first course then the veal and root vegetables are accompanied by apple-horsradish and chives.
Salzburger Nockerl was invented in Salzburg in the 17th century. Nockerl are vanilla flavoured dumplings dusted with powdered sugar and served with fruit jams or sauces. The warm dumplings arrive in three mounds to represent the three hills that surround Salzburg.
A Salzburger Nockerl, the Augustiner Brewery and their beer gardens
1 BEVERAGE TO ENJOY
There are eleven breweries in Salzburg, and the city is known as Austria’s beer capital. The Stiegl brewery has been privately owned since 1492. The Stieglkeller, located below the Hohensalzburg fortress, is a restaurant and beer garden that offers great views of the old town.
Established in 1621, the Augustiner Brau brewery and tavern is the biggest in Austria with indoor seating and a beer garden. In addition to great beer, you can purchase traditional dishes from food stands located inside the hall or the brewery.
Salzburg is a university town and has a lively café, beer garden and nightlife scene.
In addition to Mozart Week and the Salzburg Music Festival locals celebrate Fasching, Easter and harvest festivals. Salzburg’s Christmas markets are very popular and some shops in the old town specialize in Christmas.
Paul Almeida is the President of Azorcan Global Sport, School and Sightseeing tours and his company has taken thousands of people to Europe on custom group tours since 1994.
Visit azorcan.net to see all our custom group tour possibilities and to see our signature sport, sightseeing and sport fan tours individuals can now join.
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Images compliments of Paul Almeida and Azorcan Tours.
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From the Fraser Institute
By Callum MacLeod and Jake Fuss
The only taxes corporations face are on profits they distribute to shareholders. This allows the profits of Estonian firms to be reinvested tax-free permitting higher returns for entrepreneurs.
A new study found that the current decline in living standards is one of the worst in Canada’s recent history. While the economy has grown, it hasn’t kept pace with Canada’s surging population, which means gross domestic product (GDP) per person is on a downward trajectory. Carolyn Rogers, senior deputy governor of the Bank of Canada, points to Canada’s productivity crisis as one of the primary reasons for this stagnation.
Productivity is a key economic indicator that measures how much output workers produce per hour of work. Rising productivity is associated with higher wages and greater standards of living, but growth in Canadian productivity has been sluggish: from 2002 to 2022 American productivity grew 160 per cent faster than Canadian productivity.
While Canada’s productivity issues are multifaceted, Rogers pointed to several sources of the problem in a recent speech. Primarily, she highlighted strong business investment as an imperative to productivity growth, and an area in which Canada has continually fallen short. There is no silver bullet to revive faltering investment, but tax reform would be a good start. Taxes can have a significant effect on business incentives and investment, but Canada’s tax system has largely stood in the way of economic progress.
With recent hikes in the capital gains tax rate and sky-high compliance costs, Canada’s taxes continue to hinder its growth. Canada’s primary competitor is the United States, which has considerably lower tax rates. Canada’s rates on personal income and businesses are similarly uncompetitive when compared to other advanced economies around the globe. Uncompetitive taxes in Canada prompt investment, businesses, and workers to relocate to jurisdictions with lower taxes.
The country of Estonia offers one of the best models for tax reform. The small Baltic state has a unique tax system that puts it at the top of the Tax Foundation’s tax competitiveness index. Estonia has lower effective tax rates than Canada—so it doesn’t discourage work the way Canada does—but more interestingly, its business tax model doesn’t punish investment the way Canada’s does.
Their business tax system is a distributed profits tax system, meaning that the only taxes corporations face are on profits they distribute to shareholders. This allows the profits of Estonian firms to be reinvested tax-free permitting higher returns for entrepreneurs.
The demand for investment is especially strong for capital-intensive companies such as information, communications, and technology (ICT) enterprises, which are some of the most productive in today’s economy. A Bank of Canada report highlighted the lack of ICT investment as a major contributor to Canada’s sluggish growth in the 21st century.
While investment is important, another ingredient to economic growth is entrepreneurship. Estonia’s tax system ensures entrepreneurs are rewarded for success and the result is that Estonians start significantly more businesses than Canadians. In 2023, for every 1,000 people, Estonia had 17.8 business startups, while Canada had only 4.9. This trend is even worse for ICT companies, Estonians start 45 times more ICT businesses than Canadians on a per capita basis.
The Global Entrepreneurship Monitor’s (GEM) 2023/24 report on entrepreneurship confirms that a large part of this difference comes from government policy and taxation. Canada ranked below Estonia on all 13 metrics of the Entrepreneurial Framework. Notably, Estonia scored above Canada when taxes, bureaucracy, burdens and regulation were measured.
While there’s no easy solution to Canada’s productivity crisis, a better tax regime wouldn’t penalize investment and entrepreneurship as much as our current system does. This would allow Canadians to be more productive, ultimately improving living standards. Estonia’s business tax system is a good example of how to promote economic growth. Examples of successful tax structures, such as Estonia’s, should prompt a conversation about how Canadian governments could improve economic outcomes for citizens.
Authors:
From the Fraser Institute
Business investment in the extraction sector (again, excluding residential structures and adjusted for inflation) has declined from $101.9 billion to $49.7 billion, a reduction of 51.2 per cent
Canada has a business investment problem, and it’s serious. Total business investment (inflation-adjusted, excluding residential construction) declined by 7.3 per cent between 2014 and 2022. The decline in business investment in the extractive sector (mining, quarrying, oil and gas) is even more pronounced.
During that period, business investment in the extraction sector (again, excluding residential structures and adjusted for inflation) has declined from $101.9 billion to $49.7 billion, a reduction of 51.2 per cent. In fact, from 2014 to 2022, declines in the extraction sector are larger than the total decline in overall non-residential business investment.
That’s very bad. Now why is this happening?
One factor is the heavy regulatory burden imposed on Canadian business, particularly in the extraction sector. How do we know that proliferating regulations, and concerns over regulatory uncertainty, deter investment in the mining, quarrying and oil and gas sectors? Because senior executives in these industries tell us virtually every year in a survey, which helps us understand the investment attractiveness of jurisdictions across Canada.
And Canada has seen an onslaught of investment-repelling regulations over the past decade, particularly in the oil and gas sector. For example, the Trudeau government in 2019 gave us Bill C-69, also known as the “no new pipelines” bill, which amended and introduced federal acts to overhaul the governmental review process for approving major infrastructure projects. The changes were heavily criticized for prolonging the already lengthy approval process, increasing uncertainty, and further politicizing the process.
In 2019, Ottawa also gave us Bill C-48, the “no tankers” bill, which changed regulations for vessels transporting oil to and from ports on British Columbia’s northern coast, effectively banning such shipments and thus limiting the ability of Canadian firms to export. More recently, the government has introduced a hard cap on greenhouse gas emissions coming from the oil and gas sector, and new fuel regulations that will drive up fuel costs.
And last year, with limited consultation with industry or the provinces, the Trudeau government announced major new regulations for methane emissions in the oil and gas sector, which will almost inevitably raise costs and curtail production.
Clearly, Canada badly needs regulatory reform to stem the flood of ever more onerous new regulations on our businesses, to trim back gratuitous regulations from previous generations of regulators, and lower the regulatory burden that has Canada’s economy labouring.
One approach to regulatory reform could be to impose “regulatory cap and trade” on regulators. This approach would establish a declining cap on the number of regulations that government can promulgate each year, with a requirement that new regulations be “traded” for existing regulations that impose similar economic burdens on the regulated community. Regulatory cap-and-trade of this sort showed success at paring regulations in a 2001 regulatory reform effort in B.C.
The urgency of regulatory reform in Canada can only be heightened by the recent United States Supreme Court decision to overturn what was called “Chevron Deference,” which gave regulators powers to regulate well beyond the express intent of Congressional legislation. Removing Chevron Deterrence will likely send a lot of U.S. regulations back to the drawing board, as lawsuits pour in challenging their legitimacy. This will impose regulatory reform in and of itself, and will likely make the U.S. regulatory system even more competitive than Canada.
If policymakers want to make Canada more competitive and unshackle our economy, they must cut the red tape, and quickly.
Author:
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