Numerous have watched the marine sector of our economy go through some fairly choppy seas in the last handful of decades, but are there a lot more to follow? Yes and no, and let me tell you why. 1st, this market often gets hammered by the altering financial tides, and of course the occasional economic sector calamity – get in touch with it a Hurricane storm surge or Tsunami if you will. There is a definite ebb and flow to the marine and boating market. Nowhere is this extra evident than in the sport and luxury boat constructing sector in the US. Florida is all in when it comes to marine jobs and boat constructing, so let’s speak shall we?
The Herald-Tribune had an fascinating write-up posted on July 26, 2013 titled “Boat constructing business tends to make a comeback,” by Michael Pollick and I suppose the title sums up the info provided effectively enough, but a single has to ask why?
First, really a bit of the luxury yacht sector has been siphoned off by Chinese boat builders and also Taiwanese – they have cheaper labor and industrial capacity and they’ve discovered all of our technical know-how. Second, the 2008 financial tragedy was a super storm heard globally. China also has wealthy buyers to purchase luxury boats and yachts, it is but a different status symbol, and just as corporate jet sales will rise, that tide will raise all boat sales there too. So, will China sail away with our boating industry as they have so a lot of other sectors of our economy?
Tough to say, since in medium sized yacht industry, it really is a challenging job to transport the finished products. Large 100-foot plus yachts can be sailed across the ocean, or transported in the hulls of specialized boats and that tends to make sense for expense. Boat Trip Palma can be shipped in container variety ships or in auto-transport ships. The labor charges getting what they are, give a enormous benefit, plus fewer regulations on suppliers, worker safety challenges, boat painting EPA guidelines, and so forth.
Also plaguing the marine sector boat creating sector in Florida and elsewhere in the USA will be the ObamaCare rules and these insane rapid rising health care insurance coverage charges. And not to put dark clouds on a nice summer sailing day, but there are headwinds ahead, so the sector will will need to be careful how it handles all these future challenges. Also, with an anti-wealthy, class warfare, populist push by our leadership we can also expect much more use taxes on the horizon, luxury tax laws, to resurface as sea mines in the coming years. Please take into consideration all this and consider on it.