On Deck: BREXIT and the Phuket marine industry

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On Deck: BREXIT and the Phuket marine industry
Phuket Gazette


Brits using Pound Sterling to charter or buy yachts in Thailand will be spending more in fees and related costs. Photo: MY Norma by Monte Carlo Yachts

PHUKET: -- Rather a lot has changed since my last column, at least in Europe. BREXIT. Lots has been said and written – lies, assumptions, crystal ball gazing and all the political back-biting that comes with such a momentous decision.

I won’t go through the details here – there are many better qualified than myself for that – but I will take this chance to polish my own crystal-ball and look at how this could affect Phuket’s marine industry.

At first glance, we might think ‘it’s over there in Europe, nothing has changed here’. That would be a convenient view, but unlikely to be completely accurate.

Right now the UK economy is in turmoil, politically and economically. Granted, the word ‘turmoil’ is perhaps a little harsh but the fall-out of the public decision, the yet-to-be-taken-if-at-all action by the government, and the lack of any sensible political leadership, does shine a negative light on the country and creates instability.

Instability equals uncertainty, and uncertainty means delayed decision-making across the board. It is this instability and current drop in currency value that are likely, in my opinion, to have an impact on Phuket. This may take time to filter through. Individuals or businesses may already be feeling it, but from a marine industry perspective, I see three possible areas that will be impacted.

Full story: http://www.phuketgazette.net/phuket-lifestyle/On-Deck-BREXIT-the-Phuket-marine-industry/64203


-- Phuket Gazette 2016-07-14

[daveAustin]

Right now the UK economy is in turmoil, politically and economically.

Hardly. Politically, it has stabilised in London (follow the news); economically, trade didn't stop because of the outcome of the referendum -- new deals are being done every day and it doesn't need politicians and the Houses of Parliament to function. Possibly tank in the long term but the only real knock-on effect for Phuket is the lower pound and drop in British visitors. However, with the influx of 'quality' Chinese tourists that the Thai government keep alluding to be of more significant importance to the Thai economy, there is no need to worry.

[Brer Fox]

Riveting stuff for those who are in the slightest bit interested in the Phuket maritime industry which I suspect 99% of the local population aren't. It seems the author has an interest in the industry and is anti-Brexit and is venting his spleen on how he sees how he might be personally disadvantaged by Brexit. Crystal balls have been proven unreliable but I give the author the benefit of the doubt that his is infallible.

[NamKangMan]

Right now the UK economy is in turmoil, politically and economically.

Hardly. Politically, it has stabilised in London (follow the news); economically, trade didn't stop because of the outcome of the referendum -- new deals are being done every day and it doesn't need politicians and the Houses of Parliament to function. Possibly tank in the long term but the only real knock-on effect for Phuket is the lower pound and drop in British visitors. However, with the influx of 'quality' Chinese tourists that the Thai government keep alluding to be of more significant importance to the Thai economy, there is no need to worry.

The UK will disintegrate, and England will go into a serious recession.

There will not be many English tourists to ANY country in the near future, and English expats and retirees will have decades of financial pain.

That said, I still think the UK will remain in the EU. It all depends on who, and when, Article 50 is triggered, but that is for another thread, in another forum.

Villages in Issan will gain an influx of Brits in the near future, as they did in 2008, when the GFC hit.

Edited July 14, 2016 by NamKangMan

[tomwct]

No idea what your are talking about!

[daveAustin]

The UK will disintegrate, and England will go into a serious recession.

There will not be many English tourists to ANY country in the near future, and English expats and retirees will have decades of financial pain.

That said, I still think the UK will remain in the EU. It all depends on who, and when, Article 50 is triggered, but that is for another thread, in another forum.

Villages in Issan will gain an influx of Brits in the near future, as they did in 2008, when the GFC hit.

What ever have you been reading? That you think they'll stay in the EU shows how wide of the mark you are -- your article will be triggered. The UK is one of the world's biggest economies because of its know-how, brilliant engineers and scientists, hard work and what it churns out, not because of the stifling EU. None of the above will stop in a hurry, but keep telling yourself that if it makes you feel all fuzzy. If it did seriously go to the dogs, Europe, of which UK buys so much off, will also be in dire straits. They would be committing economic suicide if they try to play hardball.

[NamKangMan]

The UK will disintegrate, and England will go into a serious recession.

There will not be many English tourists to ANY country in the near future, and English expats and retirees will have decades of financial pain.

That said, I still think the UK will remain in the EU. It all depends on who, and when, Article 50 is triggered, but that is for another thread, in another forum.

Villages in Issan will gain an influx of Brits in the near future, as they did in 2008, when the GFC hit.

What ever have you been reading? That you think they'll stay in the EU shows how wide of the mark you are -- your article will be triggered. The UK is one of the world's biggest economies because of its know-how, brilliant engineers and scientists, hard work and what it churns out, not because of the stifling EU. None of the above will stop in a hurry, but keep telling yourself that if it makes you feel all fuzzy. If it did seriously go to the dogs, Europe, of which UK buys so much off, will also be in dire straits. They would be committing economic suicide if they try to play hardball.

Firstly, I made a few quid out of BREXIT, so no bother to me.

The referendum is not legally, nor politically binding. I predict a General Election, prior to the triggering of Article 50, with a candidate standing for "Remain."

They will automatically have ALL of the "Remain" votes, possibly more, from those who have reconsidered, or those who will then make an effort to turn out and vote. If they were to win the election, this would give them a mandate from the people to "Remain."

As far as the EU playing "hardball" - of course they will, if what I predict does not happen.

They will seek to make an example out of England, not necessarily the UK, as they welcome countries of the former UK into the EU.

This will act as a deterrent to other EU nations considering the same move.

It's not over.