PHUKET'S TITANIC Will Euro Sink, Swim Or Just Float?
We've all seen the movie the Titanic and that epic iceberg which sunk the ship. Gathering momentum in recent days is mounting concern over the stability of the Euro.
Is an iceberg lurking just under the water?
Both the island's tourism and property sector are highly leveraged on Euro based travelers and real estate buyers. Historically no single event as the dramatic swing of the British pound's decline impacted property sales over the past decade.
While Greece has been the focus, new concerns are mounting over Spain Portugal and Ireland that could see a dramatic shake up of underlying fundamentals.
While in this part of the world one of the regions key outbound tourism markets Korea is suffering from both political and financial market jitters over the recent sinking of a naval vessel but its northern neighbor and now a new series of war monging saber rattling is creating instability.
For now as has been the case for the entire decade, 2010 is looking to be a rocky road not only here but all over the globe. While tourism and property remain domestic matters, they continue to be linked to the larger picture abroad.
Safe havens, sorry there don't' seem to be any these days.